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This release is being distributed on behalf of the Indiana Economic Development Corporation October 10, 2007 National Healthcare, Pharmaceutical Company The provider of home healthcare and products will invest more than $3 million to relocate its suburban Detroit headquarters to Indianapolis’ north side and will begin hiring managers, pharmacists, pharmacy technicians and sales staff later this year. “New jobs in Indiana are always a great story, but headquarters announcements have special meaning in the variety of jobs, higher pay, and deeper civic commitment they bring,” said Daniels. “And we've seen a string of new headquarters coming to the state this year - Really Cool Foods, SMC Corporation, Veolia Water and Princeton Search just to name a few." The relocation of the company’s Southfield, Mich., corporate headquarters comes as it readies the national launch of DailyMed™, a drug packaging system that puts patients multiple prescription and over-the-counter medicines and vitamins into a roll of single dose packs labeled with the dates and times the patient should take the medications. "There is real health care crisis taking place all across America, and it’s called medication non-compliance,” Richardson said. “DailyMed™ is the only retail drug packaging system in the nation that addresses this crisis with an inexpensive, easy-to-use and effective solution that simply pre-sorts a patient’s medications into single dose packets. With DailyMed™, we can finally say goodbye to all those pill bottles and those confusing pill sorters.” As part of its relocation to Indiana, Arcadia is developing a relationship with the state’s Family and Social Services Administration to market DailyMed™ to the more than 100,000 Medicaid recipients as well as the 1.7 million Hoosiers enrolled in Medicare. The Purdue University School of Pharmacy and Pharmaceutical Sciences, located in West Lafayette, Ind., is currently involved with a clinical trial with Arcadia that examines prescription drug compliance among current DailyMed™ users. The objective of the study, Richardson said, is to determine if DailyMed™ can improve a person’s ability to adhere with a prescription drug regimen and therefore help reduce other medical and healthcare costs associated with medication errors and non-compliance. Nationally, medication-related problems create more than $177.4 billion in avoidable healthcare costs, according to the American Society of Consultant Pharmacists. "Within the pharmacy community, we recognize the benefits technology and automation could bring to pharmaceutical care and outcomes," said Craig K. Svensson, Pharm. D., Ph.D., Dean of the College of Pharmacy, Nursing and Health Sciences at Purdue University. "Alternatives to the prescription vials and plastic medication reminders may be helpful to patients trying to organize their use of multiple medications. The DailyMed™ program offers a possible solution to simplify medication management to help ensure patients take the right dose of medication at the right time. We are pleased to extend our expertise to a compliance study of product that may help patients in their daily treatment." The Indiana Economic Development Corporation offered Arcadia up to $6 million in performance-based tax credits and up to $137,500 in training grants based on the company’s job creation plans. The City of Indianapolis offered the company property tax abatement, and Indianapolis Economic Development and the Indy Partnership assisted in the effort. Publicly traded on the American Stock Exchange under the symbol KAD, Arcadia employs over 13,000 professionals across the country in 105 operating locations and operates in 23 states. DailyMed™ is available on-line at www.DailyMedRx.com or by calling 800-973-1955. About Arcadia HealthCare Arcadia HealthCare is a service mark of Arcadia Resources, Inc. (AMEX: KAD), and is a national provider of alternate site healthcare services and products, including respiratory and durable medical equipment; non-medical and medical staffing, including travel nursing; comprehensive central fill and licensed pharmacy services including its proprietary DailyMed™ Pharmacy program and a catalog of healthcare-oriented products, available for purchase on https://www.ArcadiaHealthCare.com and other leading retailer websites. Through industry partnerships, the Company is also establishing a licensed model for walk-in routine (non-emergency) medical clinic inside of retail stores. Arcadia HealthCare’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 or through the convenience of local healthcare sites. The Company’s annual report on Form 10-K for the year ended March 31, 2007 is available on the Company’s website (https://www.arcadiahealthcare.com and the SEC website (https://www.sec.gov ). About IEDC
Media Contacts: Amalia "Molly" Blanco 317.569.8234 Davis Hodge or Dan Fleshler at Kreab/Strategy XXI – (212) 935-0210 Mitch Frazier (IEDC) – 317.232.8873 or MFrazier@iedc.in.gov Elizabeth Gardner, Purdue University, (765) 494-2081, ekgardner@purdue.edu 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 and otherwise within the meaning of court opinions construing such forward-looking statements. Arcadia claims all safe harbor and other legal protections provided to it by law for all of its forward-looking statements. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, estimates, 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, including our estimates of consumer demand for our services and products, required capital investment, competition, and other factors. Actual events and results may differ materially from those expressed, implied or forecasted in forward-looking statements due to a number of important factors, including, but not limited to, the following: (1) Relocating our corporate headquarters may result in temporary instability as personnel, records, and equipment are transitioned to our new location ; (2) We may not be able to attract and retain the key management employees and other skilled workers needed to meet our hiring goals; (3) We may not succeed in executing the national launch of DailyMed™ on schedule; (4) The metrics from the pilot launch of DailyMed™ in the Twin Cities may not accurately predict the demand for DailyMed™ in other geographic regions, potentially resulting in lower than expected revenue growth; (5) The marketing initiatives currently planned in conjunction with the State of Indiana and its agencies may be insufficient for DailyMed™ to achieve the market penetration necessary to meet our revenue growth targets; (6) The Purdue University School of Pharmacy study of DailyMed™ may not find that DailyMed™ improves medication compliance, or may not find that such compliance eliminates other medical and healthcare costs; such a finding could potentially harm our ability to market DailyMed™; (7) We may not be able to realize the full value of the tax credits and grants offered by the State of Indiana and its agencies; (8) Due to our history of operating losses and negative cash flows, we cannot be certain that we will be able to generate sufficient cash flow, including obtaining additional debt or equity financing, to meet our obligations on a timely basis. An inability to raise sufficient capital to fund our operations would have a material adverse effect on our business and would raise substantial doubt about our ability to continue as a going concern; (9) We may be unable to execute and implement our growth strategy; (10) Changes in economic, political and regulatory conditions, including governmental regulations, may force us to alter or abandon certain plans and initiatives; (11) Our management team is relatively new and may not be able to successfully pursue its business plan; (12) The Company may be required to enact restructuring measures in addition to those announced on March 30, 2007 and thereafter; (13) Other unforeseen events may impact our business. The forward-looking statements speak only as of the date hereof. Additional information that could materially affect the Company may be found in the Company’s filings with the Securities and Exchange Commission. The Company disclaims any obligation to update or alter its forward-looking statements, except as may be required by law. Purdue News Service: (765) 494-2096; purduenews@purdue.edu
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