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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 Continues Expansion of Home Health Care Business in Southwest Florida — Acquires Summit Home Respiratory of Naples, Florida
SOUTHFIELD, MI: August 22, 2005 -- Arcadia Resources, Inc., (OTC BB: 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 durable medical and respiratory medical equipment sale and rental business of Summit Home Respiratory Services, Inc., serving the Naples, Bonita Springs and Fort Myers markets.
Upon full integration of the acquisition, Arcadia Resources will operate Summit Home Respiratory under the brand name Arcadia Home as a wholly owned Arcadia company. In addition to supplying home respiratory and durable medical equipment to patients, Arcadia plans to offer pharmacy and home health agency services. Tom White, Regional Manager of Arcadia’s recently acquired United Health Care Services located Ft. Myers and Port Charlotte, Florida, will also manage Summit Home Respiratory, Inc.
Keith Glisch, Chief Executive Officer of Summit Home Respiratory, Inc. stated, “We are impressed with the quality of Arcadia Resources’ services. We entrust their experienced leadership team to expand our operations by providing additional products and services for the benefit of our customers.”
Larry Kuhnert, President of Arcadia Resources, stated, “Our goal is to provide a one-stop approach to in-home health care that leverages our centralized management team, unified national branding and additional marketing support to deliver superior customer support and services in the in-home health category. The acquisition of Summit Home Respiratory strengthens this platform for growth by increasing accessibility to a broad range of services, from in-home caregivers to durable medical equipment, throughout Southwest Florida.”
About Arcadia Resources
Arcadia Resources, Inc. operations include home health care services, medical and non-medical staffing, 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.
Arcadia Resources is the product of the May 2004 merger of Critical Home Care, Inc. and RKDA, the parent company of Arcadia Services, Inc., and Arcadia RX, LLC. The Company, for the purposes of comparability, has combined predecessor and successor results for the quarter ended June 30, 2004. Since June 30, 2004, the Company has acquired 11 successful staffing and home health care businesses in Alabama, Colorado, Florida, Georgia, Illinois, Indiana, Massachusetts, Michigan and North Carolina along with a mail-order catalog business. 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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