Arcadia Resources Acquires Leading Respiratory Services Provider in Metro-Atlanta, Georgia
18 January 2006 - 1:23AM
PR Newswire (US)
SOUTHFIELD, Mich., Jan. 17 /PRNewswire-FirstCall/ -- Arcadia
Resources, Inc. (OTC:ACDI) (BULLETIN BOARD: ACDI) , a leading
national provider of home care and staffing services, including
travel nursing; mail-order pharmacy; and respiratory and durable
medical equipment (DME), announced today the acquisition of the
business of HomeLife Medical, Inc. ("HomeLife"). As a DME provider,
HomeLife specializes in the sales and rental of respiratory
products for home care and rehabilitation throughout the metro
Atlanta, Georgia region. Established in 2000, HomeLife is
headquartered in Blairsville, with offices in Demorest and
Gainesville, Georgia. Doug Payne, co-founder of HomeLife Medical,
Inc., stated, "We are very excited about Arcadia. Our patient care
philosophies align perfectly and their multi-faceted service
approach is the wave of the future for our industry. This merger
brings the best of both worlds to the table." Larry Kuhnert,
president of Arcadia Resources, Inc., stated, "We have recognized a
strong growth opportunity in the DME sector. Recent resolutions
over Medicare reimbursement for respiratory services, combined with
rapid consolidation of the sector, should bode well for Arcadia.
Through acquired companies such as HomeLife, we can expand our
service offerings and cross- referral opportunities in Georgia,
while increasing our market share in the national DME sector." John
E. Elliott II, chairman and CEO of Arcadia Resources, Inc., stated,
"Arcadia continues to execute the diversified growth strategy
initiated in 2005 to expand all segments of the business, including
home health care products, staffing services, pharmacy sales and
DME. We are creating a balanced revenue mix through key
acquisitions, a growing retail presence and online commerce that we
anticipate will favorably contribute to sales and gross margin in
fiscal 2006." 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/ . 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. For more information:
National Financial Network Geoffrey Eiten, Investor Relations
781-444-6100 x613 http://www.nfnonline.com/acdi First Call Analyst:
FCMN Contact: DATASOURCE: Arcadia Resources, Inc. CONTACT: Geoffrey
Eiten, Investor Relations, National Financial Network,
+1-781-444-6100, ext. 613, , for Arcadia Resources, Inc. Web site:
http://www.arcadiaresourcesinc.com/ http://www.nfnonline.com/acdi
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