Arcadia Resources Acquires Select Assets of Sparrow Development to Expand Services in Mid-Michigan
24 Octobre 2005 - 10:09PM
PR Newswire (US)
SOUTHFIELD, Mich., Oct. 24 /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 durable medical equipment
(DME), announced today that Arcadia Health Services of Michigan,
Inc. has acquired select private duty home care services assets
from Sparrow Development, Inc., a holding company of the Sparrow
Health System in Lansing, Michigan. Sparrow Development is an
affiliate of Sparrow Health System, a major provider of inpatient,
outpatient, and home care services serving the mid-Michigan
markets. Larry Kuhnert, president of Arcadia Resources, stated, "By
acquiring Sparrow private duty services' assets, we not only add
value to our existing service offerings, but also can realize
significant sales and cost synergies through the integration of
these assets under our centralized location in Lansing, MI. We
expect this acquisition will be accretive to our earnings beginning
in 2005." Susan M. Powell, Administrative Director of Sparrow
Private Duty Services, stated, "We are excited to be working with
the Arcadia team of professionals. For the patients and employees
of Sparrow private duty services, we believe Arcadia offers
expanded access to a leading, nationwide home health care agency to
continue to deliver expert services to our community." 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. 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. Since June 30, 2004, the Company has acquired several
successful staffing and home health care businesses in Alabama,
Colorado, Florida, Georgia, Illinois, Indiana, Massachusetts,
Michigan, North Carolina and South Carolina, along with a
mail-order catalog business. For more information, visit:
http://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. For more information: National
Financial Network Geoffrey Eiten, Investor Relations 781-444-6100
x613 http://www.nfnonline.com/acdi DATASOURCE: Arcadia Resources,
Inc. CONTACT: National Financial Network: Geoffrey Eiten, Investor
Relations, +1-781-444-6100, x613, Web site:
http://www.arcadiaresourcesinc.com/
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