Arcadia Resources Acquires Respiratory Services Provider in Chicagoland
01 2월 2006 - 10:00PM
PR Newswire (US)
--Accretive Acquisition Brings $2.7 Million in Annual Sales to
Arcadia-- SOUTHFIELD, Mich., Feb. 1 /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 Remedy Therapeutics, L.L.C. based in Crystal Lake,
Chicagoland. Remedy Therapeutics brings annual sales of $2.7
million and accretive earnings before income taxes, depreciation
and amortization (EBITDA) to Arcadia. Arcadia has retained Michael
Burke, founder of Remedy Therapeutics, as Arcadia's Regional
Manager for Chicagoland. A heath care industry veteran of nearly 30
years, Mr. Burke brings an extensive background in executive sales,
marketing and customer relationship management for national and
regional business-to-business and consumer accounts. Prior to
founding Remedy Therapeutics, Mr. Burke was a regional manager for
Rotech Healthcare, Inc. Michael Burke commented, "I have known the
team of professionals at Arcadia for many years, and am always
impressed with their ability to stay ahead of the curve in the
health care industry. Arcadia's business model capitalizes on the
preference for patients to recover and achieve wellness within a
home setting, and serves the market void for integrated, expert in-
home health care products and services. Remedy Therapeutics is
established within the highly-populated region of Chicagoland and
can offer Arcadia new opportunities for sustainable growth." Larry
Kuhnert, president of Arcadia Resources, Inc., stated, "We are very
excited to integrate Remedy Therapeutics into Arcadia's home
respiratory care and durable medical equipment (DME) division. We
are equally pleased to welcome Mr. Burke to our executive
management team. His background of success in the direct-to-patient
DME business is an asset to our organization, and supports our
initiative to acquire accretive acquisitions. This strategic
acquisition will immediately contribute to our top-line and EBITDA
in 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 of National Financial Network,
+1-781-444-6100 x613, Web site: http://www.arcadiaresourcesinc.com/
http://www.nfnonline.com/acdi
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