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“Arcadia is a strong player in America's most consistently growing industries: temporary staffing and home health care.” |
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Arcadia Resources Acquires Select Assets of Madrid Medical to Expand Respiratory and Durable Medical Equipment Business
SOUTHFIELD, MI: November 8, 2005 -- Arcadia Resources, Inc. (OTCBB: KAD), a leading national provider of home care and staffing services, including travel nursing; mail-order pharmacy; and durable medical equipment (DME), announced today that its wholly owned subsidiary, American Oxygen & Medical Equipment, has completed an asset purchase of Madrid Medical, a respiratory and durable medical equipment supplier in Lafayette, Indiana.
Larry Kuhnert, president of Arcadia Resources, stated, "The acquisition of the business of Madrid Medical provides us with additional coverage in the Indiana marketplace. We first established a presence in the state with our acquisition of Health-Link. Through select asset acquisitions, we continue to round out our service offerings and strengthen our existing business lines. Madrid Medical adds to our core competencies in the higher margin durable medical equipment business and enables us to cross-market these services through our existing affiliate offices and referral network. We continue to execute a growth-through-acquisition strategy to become an industry-leader within the geographic markets that we serve."
Judy Berchelmann, director of sales for Arcadia Resources' DME division, stated, "We are very excited about our expanded visibility in the state of Indiana. I look forward to working with our valued staff of quality associates to grow our market."
Michael Madrid, founder and president of Madrid Medical, stated, "When we considered selling our business, we wanted to find a company who would share our commitment to the Lafayette medical community and our patients. Arcadia/American Home Oxygen is that kind of company. They truly reflect our philosophy of being patient focused and service driven. The residents of Lafayette and surrounding areas will find the same friendly, courteous and caring attitudes, as most of our staff will continue to serve their existing client base."
About Arcadia Resources
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: www.arcadiaresourcesinc.com
Contact: Geoffrey Eiten, Investor Relations, National Financial Network, 781-444-6100 x613, geiten@nationalfc.com. See also 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, to the extent 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 acquisitions of business which generate higher gross margins and our expectation of a continued positive growth trend in this respect 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, as well as our ability to procure our products and providers of services at competitive prices. 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, 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.
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