Arcadia Resources Acquires Select Assets of Madrid Medical to Expand Respiratory and Durable Medical Equipment Business
08 Novembre 2005 - 2:01PM
PR Newswire (US)
SOUTHFIELD, Mich., Nov. 8 /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 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, 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:
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: Geoffrey Eiten, Investor Relations, National
Financial Network, +1-781-444-6100 x613, or , for Arcadia
Resources, Inc. Web site: http://www.arcadiaresourcesinc.com/
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