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Arcadia Completes New Financing; Previews Fourth Quarter Results
Date:3/27/2009

- Debt Maturities Extended to 2012; $3 Million in New Financing

- DailyMed(TM) Sales Expected to Increase More Than 40% Over Prior Quarter

INDIANAPOLIS, March 27 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. (NYSE Amex: KAD), a leading provider of innovative consumer health care services under the Arcadia HealthCare(SM) brand, today announced that it has successfully completed a restructuring of $24 million of its outstanding debt, extending the maturity to April 2012, and raising an additional $3 million in working capital.

The Company also announced that sales of its DailyMed medication management system are expected to be 40% higher in the fourth quarter ended March 31, 2009 compared with the most recent third quarter, exceeding previous projections. However, the Company said it expects that its fiscal 2009 fourth quarter EBITDA loss from continuing operations will exceed the loss reported for the third quarter, reflecting declines in industrial and medical staffing revenues and expenses related to the continuing ramp-up of the new Indianapolis pharmacy operations. Arcadia said it is actively pursuing the sale of non-core businesses and has also implemented cost-control measures, including a 10% reduction in executive compensation.

Debt Restructuring

The Company has restructured approximately $24 million in principal amount (plus accrued interest) of secured and unsecured promissory notes and received an additional $3 million in loans, principally from its two largest shareholders.

The restructured notes, previously set to mature October 2009, have been exchanged for new promissory notes totaling approximately $27 million, inclusive of the $3 million working capital loan. The new notes have a maturity of April 2012, accrue simple interest at the
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SOURCE Arcadia Resources, Inc.
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