Arcadia restructures

Monday, April 30, 2007

SOUTHFIELD, Mich. - Arcadia Resources announced plans March 30 to restructure the company to "further sharpen its focus on its core businesses, strengthen future cash flow, integrate recent acquisitions, enhance organizational efficiency and significantly reduce operating expenses." Arcadia plans to close its Orlando, Fla., office, which provides corporate accounting and administrative functions; close several unprofitable DME facilities and consolidate their operations with other nearby facilities; relocate its Hollywood, Fla., pharmacy facility to a "more economical" location; centralize certain pharmacy operations in Paducah, Ky.; reduce management of its Care Clinic operation by closing its New Jersey office and relocating certain functions to Southfield, Mich.; eliminate duplicate functions resulting from its PrairieStone acquisition; and exit all six DME retail facilities in Sears store locations.