Arcadia Resources Unit Acquires Home Health Professionals
May 02 2005 - 11:48AM
PR Newswire (US)
Arcadia Resources Unit Acquires Home Health Professionals --Expands
Reach to Include Eight New Michigan Markets; Adds Immediate
Revenues of $7 Million-- SOUTHFIELD, Mich., May 2
/PRNewswire-FirstCall/ -- Arcadia Resources, Inc. (OTC:ACDI)
(BULLETIN BOARD: ACDI) , a leading provider of home care and
staffing services, mail order pharmacy and durable medical
equipment ("DME"), announced today that its Arcadia Health Services
of Michigan division has acquired 100% of the assets of Home Health
Professionals. In business for 11 years, Home Health Professionals
provides comprehensive home care services and temporary staffing
for healthcare facilities and other businesses in Southwest
Michigan. Home Health Professionals serves the state of Michigan
from eight office locations in Ann Arbor, Battle Creek, Coldwater,
Jackson, Kalamazoo, Lansing, Livonia and St. Joseph. The company
reported profits on annual sales of $7 million in 2004. Arcadia
plans to retain all Home Health Professionals account service
personnel and the company management team to maintain and continue
excellent relationships with current Home Health Professionals'
customers. John E. Elliott II, chairman and CEO of Arcadia
Resources, Inc., stated, "We continue to successfully execute a
prudent growth-through-acquisition strategy. The purchase of Home
Health Professionals immediately expands our home care services and
equipment businesses. Additionally, we have a significant
opportunity to cross-market our higher margin, Durable Medical
Equipment (DME) and mail-order pharmacy products to their existing
customer base. Upon integration of this acquisition, Arcadia stands
to add established revenue sources with solid potential for
scalability." Thomas J. Unger and Patricia D. Slayton, Co-founders
of Home Health Professionals, Inc. stated, "The management and
staff of Home Health Professionals are extremely pleased to join a
leading, national company such as Arcadia Resources. Arcadia shares
our family-centric approach to home health care. This acquisition
supports our initiatives to increase our U.S. footprint as well as
supports our goal to maximize an individual's potential for quality
of life." Since mid-2004, Arcadia has successfully acquired
multiple staffing and home health care businesses in Alabama,
Colorado, Florida, Georgia, Illinois, Massachusetts and North
Carolina. Arcadia currently operates through 12 affiliated agencies
across Michigan under the Arcadia Staff Resources and Metrostaff
brands. Arcadia plans to continue to acquire synergistic companies
with established operations in the U.S. throughout 2005. About
Arcadia Resources, Inc. Arcadia Resources, Inc., helps
organizations operate more effectively and with greater
flexibility, and enables individuals to manage illness and injury
in the comfort of their own homes. Headquartered in Southfield,
Michigan, the company's core businesses are comprehensive home care
services, medical and non-medical staffing, mail-order pharmacy and
durable medical equipment. For more information about Arcadia,
please visit the company's Web site at
http://www.arcadiaresourcesinc.com/ . Investors should visit
http://nfnonline.com/acdi/ . For more information, contact: Geoff
Eiten, Investor Relations, National Financial Network,
781-444-6100x613; . Safe Harbor under the Private Securities
Litigation Reform Act of 1995: The statements which are not
historical facts contained in this press release are
forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with
the uncertainty of future financial results, regulatory approval
processes, the impact of competitive products or pricing,
technological changes, the effect of economic conditions and other
uncertainties as may be detailed in the Company's filings with the
Securities and Exchange Commission. DATASOURCE: Arcadia Resources,
Inc. CONTACT: Geoff Eiten, Investor Relations of National Financial
Network, +1-781-444-6100, ext. 613, , for Arcadia Resources, Inc.
Web site: http://www.arcadiaresourcesinc.com/
http://nfnonline.com/acdi
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