Arcadia Resources Announces Closing of $11.1 Million Financing

INDIANAPOLIS, Nov. 23 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. , a leading provider of innovative consumer health care services under the Arcadia HealthCare(SM)( )brand, announced today that it has completed the previously announced sale of shares of its common stock and warrants to purchase common stock pursuant to a registered direct offering to institutional investors, representing gross proceeds to Arcadia of approximately $11.1 million.

The common stock and warrants were sold by Arcadia pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC). A prospectus relating to the offering was filed with the SEC on Nov. 9, 2009. Burnham Hill Partners, LLC acted as the exclusive placement agent for the transaction.

About Arcadia HealthCare(SM)

DailyMed(TM) Pharmacy dispenses a monthly cycle of a patient's prescriptions, over-the-counter medications and vitamins, and organizes them into pre-sorted packets clearly marked with the date and time the medications should be taken. In the dispensing process, a DailyMed pharmacist reviews each patient's medication profile and utilizes state-of-the-art medication therapy management tools in order to improve the safety and efficacy of the medications being dispensed. A DailyMed pharmacist provides routine communication with the patient, the primary care physician, caregivers and payers in order to maximize the pharmaceutical care administered. The DailyMed program improves patient care and drug utilization while reducing drug and hospitalization costs for private and government payers.

Arcadia Resources, Inc.