Arcadia Resources Enters Indiana Market and Expands Into Metro Chicago With Acquisition of Health-Link, LLC
June 02 2005 - 8:00AM
PR Newswire (US)
Arcadia Resources Enters Indiana Market and Expands Into Metro
Chicago With Acquisition of Health-Link, LLC -Retains UBS
Investment Bank as M&A Financial Advisor- SOUTHFIELD, Mich.,
June 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 it has acquired 100% of the
assets of Health-Link, LLC. Health-Link is a durable medical
equipment supplier focused on respiratory disease management with
operations in Northwest Indiana and Metropolitan Chicago, Illinois.
Upon full integration of the acquisition, it is anticipated that
Health-Link will operate the business under the Arcadia H.O.M.E.
(home oxygen medical equipment) name. Terms of the acquisition were
not disclosed. Abraham Sabbagh, Managing Member of Health-Link,
stated, "Health-Link is very excited to join Arcadia Resources. I
believe Arcadia's expanded scope of services and strong management
team will greatly benefit our customers in Northwest Indiana and
Metro Chicago." Larry Kuhnert, President of Arcadia Resources,
stated, "We have known Mr. Sabbagh since 2000 as one of our highly
successful sales affiliates operating Arcadia home care services in
Michigan and Indiana. He currently continues to serve the Muskegon,
MI market and has relocated his Crown Point, IN office to the
Chicago area. As the principal of Health-Link, Abraham brings a
cross section of marketing expertise on both the home care services
and DME (durable medical equipment) side of our business. His
experience is a tremendous asset to us as we create a new sales
presence in the state of Indiana as well as significantly expand
our existing market coverage in greater Chicago. This acquisition
supports our overall strategy to expand sales nationwide across
multiple revenue streams, including mail order, home health care
products and services." John E. Elliott II, Chairman and CEO of
Arcadia Resources, stated, "We continue to be focused on
solidifying Arcadia's position as a leading provider of home health
care products and services. As our aggressive merger and
acquisition strategy accelerates throughout 2005, we have retained
UBS Investment Bank, one of the world's leading investment banking
and securities firms, to act as our financial advisor. UBS will
assist us to identify new opportunities of growth as well as
facilitate additional M&A opportunities. We are targeting
synergistic companies with established operations, clients and
revenues in 2005." Since mid-2004, Arcadia has successfully
acquired multiple staffing, home health care and DME businesses in
Alabama, Colorado, Florida, Georgia, Illinois, Indiana,
Massachusetts and North Carolina. 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, 781-444-6100 x613; . 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, National Financial
Network, +1-781-444-6100, x613, or Web site:
http://www.arcadiaresourcesinc.com/ http://nfnonline.com/acdi
Copyright