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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 Appoints Experienced Medical Equipment Manager as Executive Vice President
SOUTHFIELD, MI: December 12, 2005 -- Arcadia Resources, Inc. (OTCBB: KAD), 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 appointment of Jim Haifley, a home care services and medical equipment manager of more than 25 years, as Executive Vice President of Arcadia Resources, Inc. In this newly created role, Mr. Haifley will be responsible for overseeing the strategic direction, including sales and operations, of the Company's two divisions Arcadia Services, Inc. and Arcadia H.O.M.E. (Home Oxygen Medical Equipment).
Mr. Haifley joined Arcadia in 2004 as Director of Business Development. From 2000 to 2004, Mr. Haifley was a Divisional Director of Operations for Rotech Healthcare, Inc., a provider of home respiratory care and durable medical equipment and services. While at Rotech, Mr. Haifley was responsible for operations of the central division. Previously, Mr. Haifley was General Manager at Hook's Medical from 1995 to 2000, at which time the company was acquired by Rotech. He is a graduate of the University of St. Francis with a degree in Business Administration and concentrated studies in Marketing and Management.
Larry Kuhnert, president of Arcadia Resources, Inc., stated, "Jim has a proven track record of leading businesses to success within the public and private sector. I am confident in his ability to integrate our most recent acquisitions under a unified brand that maximizes our efficiencies and expands our marketing and sales opportunities."
John E. Elliott II, chairman and CEO of Arcadia Resources, Inc., stated, "Jim has made significant contributions to the Arcadia team over the past year, and we are extremely pleased to promote him to Executive Vice President. Jim contributes decades of operational and leadership experience within large, complex health care organizations. With an in-depth knowledge of our business and our customers, Jim strengthens our executive management team. He will work closely with other Arcadia executives in advancing our acquisition strategy throughout our expanding, national network."
Jim Haifley stated, "I am very excited to have this opportunity to work with such an impressive and hard working group of people. I look forward to working with our valued associates in the field, on the front line of this ever-changing health care industry. We will continue to focus on patient care and at the same time show revenue and profit growth for our stockholders."
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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