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Arcadia Resources Continues to Expand its Home Health Care Business in Florida
Acquires Regional Oxygen and Medical Equipment & Encore Respiratory
SOUTHFIELD, MI:
April 5, 2006: Arcadia Resources, Inc., (OTCBB: KAD), 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: www.arcadiaresourcesinc.com.
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. Our forward-looking statements pertaining to growth strategies, including expanding pharmacy offerings to our patients and assisted living facilities customers and pursuing alternate-site delivery and other specialized pharmacy services, are premised on various factors including, but not limited to, our ability to successfully leverage operational efficiencies and cross-marketing opportunities across the Arcadia family of businesses. Actual results may differ materially from our expectations for various reasons, including if our assumptions and/or the data we rely on are inaccurate or if growth becomes affected by economic conditions. 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. The Company claims all safe harbor and other legal protections provided to it by law for all of its forward-looking statements.
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