SOUTHFIELD, Mich., Jan. 17 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. , 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 acquisition of the business of HomeLife Medical, Inc. (“HomeLife”). As a DME provider, HomeLife specializes in the sales and rental of respiratory products for home care and rehabilitation throughout the metro Atlanta, Georgia region. Established in 2000, HomeLife is headquartered in Blairsville, with offices in Demorest and Gainesville, Georgia.
Doug Payne, co-founder of HomeLife Medical, Inc., stated, “We are very excited about Arcadia. Our patient care philosophies align perfectly and their multi-faceted service approach is the wave of the future for our industry. This merger brings the best of both worlds to the table.”
Larry Kuhnert, president of Arcadia Resources, Inc., stated, “We have recognized a strong growth opportunity in the DME sector. Recent resolutions over Medicare reimbursement for respiratory services, combined with rapid consolidation of the sector, should bode well for Arcadia. Through acquired companies such as HomeLife, we can expand our service offerings and cross- referral opportunities in Georgia, while increasing our market share in the national DME sector.”
John E. Elliott II, chairman and CEO of Arcadia Resources, Inc., stated, “Arcadia continues to execute the diversified growth strategy initiated in 2005 to expand all segments of the business, including home health care products, staffing services, pharmacy sales and DME. We are creating a balanced revenue mix through key acquisitions, a growing retail presence and online commerce that we anticipate will favorably contribute to sales and gross margin in fiscal 2006.”
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 .
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, if 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 strategy of growth through acquisitions of businesses, Medicare reimbursement for respiratory services and our expectations of a favorable impact on sales and gross margins 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, our ability to procure our products and providers of services at competitive prices, and our ability to successfully leverage operational efficiencies and cross-marketing across the Arcadia family of businesses. 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, respiratory 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.
For more information: National Financial Network Geoffrey Eiten, Investor Relations 781-444-6100 x613 geiten@nationalfc.comhttp://www.nfnonline.com/acdi
Arcadia Resources, Inc.
CONTACT: Geoffrey Eiten, Investor Relations, National Financial Network,+1-781-444-6100, ext. 613, geiten@nationalfc.com , for Arcadia Resources,Inc.