Arcadia Resources Announces Acquisition Of Carolina Care, LLC

Indianapolis, MN - Arcadia Resources, Inc., which provides innovative consumer health care services under the trade name Arcadia HealthCare, recently announced that it has acquired Carolina Care, LLC, an in-home health care business with locations in Asheboro, Greensboro and Winston-Salem, North Carolina. Carolina Care generated $2.1M in annualized revenue during 2007, and has served North Carolinians in Davidson, Forsyth, Guilford, Randolph, Rockingham and Stokes counties for more than 12 years.

"The acquisition of Carolina Care, LLC, expands Arcadia's ability to fulfill its mission of ‘keeping people at home and healthier longer,'" said Steven L. Zeller, executive vice president of In-Home Health Care and Staffing for Arcadia. "Furthermore, this acquisition allows us to build upon our existing business in North Carolina."

"Carolina Care has built a solid reputation in the Piedmont Triad area thanks to our well-trained and compassionate caregivers," said Jane Cooke, general manager of Carolina Care. "We are pleased to join Arcadia and to continue delivering high quality in-home health care services in our community."

"Expanding our in-home care business throughout the U.S. is a strategic area of focus," said Marvin Richardson, Arcadia's president and CEO. "By capitalizing on the reputation of Carolina Care, we can enhance our balanced revenue mix and focus on high margin services such as in-home health care."

With the acquisition of Carolina Care, Arcadia will have the ability to service Medicaid CAP-MR clients throughout its North Carolina operations. The acquisition will allow Arcadia to reduce expenses by consolidating the Winston-Salem offices of Carolina Care and Arcadia.

SOURCE: Arcadia Resources, Inc.