Skip to Content

Arcadia Resources secures $5 million

Arcadia Resources secures $5 million

INDIANAPOLIS - Arcadia Resources has secured a new debt facility with a maximum borrowing amount of $5 million, the provider announced April 1. The facility matures on Oct. 31, 2009, and bears interest at annual rate of 10%. It is secured by company assets. "This financing will provide Arcadia with the cash to fund DailyMed and our related pharmacy fulfillment strategy and the working capital needs associated with the pharmacy business growth anticipated during our fiscal year beginning April 1, 2008," stated Marvin Richardson, president and CEO, in a release.

Comments

To comment on this post, please log in to your account or set up an account now.