Arcadia Resources Continues to Expand its Home Health Care Business in Florida
April 05 2006 - 2:30PM
PR Newswire (US)
-- Acquires Regional Oxygen and Medical Equipment & Encore
Respiratory -- SOUTHFIELD, Mich., April 5 /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 it has acquired the Florida operations of Regional Oxygen and
Medical Equipment, Inc., and Encore Respiratory, Inc., with
combined annual sales of $1.8 million in 2005. Both companies are
home care providers of respiratory and durable medical equipment to
the Port Charlotte, Punta Gorda, North Port, Sarasota, Lake Alfred,
Winter Haven, Sebring and Venice markets. Upon full integration of
the acquisition, Arcadia Resources will operate these companies
under the brand name Arcadia Home, a wholly owned Arcadia company.
In addition to supplying home respiratory and durable medical
equipment to patients, Arcadia plans to offer pharmacy, and
ventilator services from these locations. Tom White, Regional
Manager of Arcadia's recently acquired United Health Care Services
located in Ft. Myers and Naples, Florida, will also manage the
acquired companies. Mary Miller, co-owner of Encore Respiratory,
Inc., said, "Arcadia shares the same commitment to patient care and
quality service as Encore. Arcadia is a home medical equipment
provider dedicated to helping clients maintain the greatest
possible level of independence at home." Larry Kuhnert, president
of Arcadia Resources, stated, "The acquisition of these fine
companies exemplifies our vision to provide value-added services to
meet the diverse needs of the in-home patient in the state of
Florida. Our business model can provide patients with greater
accessibility to a broad range of services, from in-home caregivers
to future durable medical equipment, while supporting consumer
confidence through the well-recognized Arcadia brand name. We
believe by selecting accretive acquisitions with quality home care
products and established sales, such as Regional Oxygen and Medical
Equipment and Encore Respiratory, we can solidify long-term
customer relationships in large, geographically desirable markets
such as Florida." About Arcadia Resources, Inc. Arcadia Resources,
Inc. operations include home health care services; non- medical and
medical staffing, including travel nursing; provision of
respiratory and durable medical equipment to patients in the home;
a full service mail-order pharmacy; and a mail-order catalog of
home health care- oriented products. The Company's comprehensive
solutions help organizations operate more effectively and with
greater flexibility, while enabling individuals to manage illness
and injury in the comfort of their own homes. For more information,
visit: http://www.arcadiaresourcesinc.com/. Contact: Geoffrey
Eiten, Investor Relations, National Financial Network, 781-444-6100
x613, . See also http://www.nfnonline.com/acdi. Any statements
contained in this release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21A of the
Securities Exchange Act of 1934, as amended, if applicable to the
Company, and otherwise within the meaning of court opinions
construing such forward-looking statements. The Company claims all
safe harbor and other legal protections provided to it by law for
all of its forward-looking statements. Forward-looking statements
may be identified by the use of forward-looking terminology such as
"may," "can," "will," "could," "should," "project," "expect,"
"plan," "predict," "believe," "estimate," "aim," "anticipate,"
"intend," "continue," "potential," "opportunity" or similar terms,
variations of those terms or the negative of those terms or other
variations of those terms or comparable words or expressions.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which could cause actual financial
or operating results, performances or achievements expressed or
implied by such forward-looking statements not to occur or be
realized. Such forward-looking statements generally are based on
our estimates of future results, performances or achievements,
predicated upon current conditions and the most recent results of
the companies involved and their respective industries. Actual
results may differ materially from those anticipated or implied in
the forward-looking statements. Risks, uncertainties and other
factors pertaining to our forward-looking statements include
competition factors (such as the size and resources of our
competitors), general economic conditions, cyclical factors
affecting our Companies' industries, our ability to sell new and
existing services and products at profitable yet competitive
prices, and the need for our Company to effectively integrate
acquired businesses and to successfully deliver its primary
services and products. In particular, our forward-looking
statements pertaining to our strategy of growth through
acquisitions of businesses, Medicare reimbursement for respiratory
services and our expectations of a favorable impact on sales and
gross margins are premised on factors including, but not limited
to, our ability to successfully reduce operating costs by
effectively integrating these businesses, without adversely
affecting the quality and volume of such services and/or products
available for purchase, our ability to procure our products and
providers of services at competitive prices, and our ability to
successfully leverage operational efficiencies and cross-marketing
across the Arcadia family of businesses. While our forward- looking
statements are premised in part by internal growth through demand
from customers served by our industries and our companies, we
cannot assure that such demand will continue. Actual results may
differ materially from our expectations in the event that our
assumptions and the data we rely on (including the historical and
expected growth of the home care services, respiratory services,
staffing, mail order prescription and medical equipment industries)
are inaccurate or if growth does not continue at historical rates
or is or becomes affected by economic conditions and climate. The
forward-looking statements contained in this news release speak
only as of the date hereof. Additional information with respect to
these and other factors that could materially affect the Company
may be found in the Company's filings with the Securities and
Exchange Commission. The Company does not undertake, and expressly
disclaims, any obligation to update or alter its forward-looking
statements, except as may be required by law. DATASOURCE: Arcadia
Resources, Inc. CONTACT: Geoffrey Eiten, Investor Relations,
National Financial Network, +1-781-444-6100 x613, or Web site:
http://www.arcadiaresourcesinc.com/ http://www.nfnonline.com/acdi
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