Arcadia expands DME collection
SOUTHFIELD, Mich. - Arcadia Resources, a provider that's revisiting the idea of one-stop shopping, continued to collect durable medical equipment and respiratory companies in late August, purchasing Summit Home Respiratory Services in Naples, Fla.
This latest purchase boosts the company's presence in Florida and rounds out its offerings in DME, healthcare staffing, mail-order pharmacy and home health nursing. Earlier this year, Arcadia picked up United Health Care Services in Fort Myers and Port Charlotte, Fla., also a DME supplier that focuses on respiratory disease management.
While he couldn't disclose Summit's price tag or the size of the client base it handed over, Keith Glisch, the company's CEO, said he sees Arcadia's one-stop-shop strategy gaining momentum with its two recent purchases.
"When they buy everything from homecare agencies to DME, you know they're trying to get their arms around as much of the medical dollar as they can," Glisch said.
Attempts to reach Arcadia were unsuccessful. Tom White, regional manager of United, will also manage Summit, according to a statement released by Arcadia. In addition to DME, the Summit location will offer pharmacy and home health services.
Glisch said he decided to sell his adult and pediatric business to Arcadia after retaining respiratory therapists became "virtually impossible."
"I talked to a variety of business brokers and asked them, 'Am I doing something wrong?'" he said. "They said, 'Oh, RTs, it's tough finding good ones.'"
As a larger company with access to capital through fundraising and other sources, Arcadia will likely escape a similar predicament, Glisch said.
For its part, Summit is continuing its Medicaid waiver business and researching a new business idea, he said.
Arcadia was created last year by the "reverse merger" of Critical Home Care and RKDA, the parent company of Arcadia Services and Arcadia Rx. Arcadia Services brought 75 locations in 21 states to the deal.