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Arcadia Resources Sells Non-Core Software Business
Date:6/15/2009

- Retains proprietary software platform and internal support for DailyMed Pharmacy

- Proceeds from divestiture used to further reduce debt

INDIANAPOLIS, June 15 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. (NYSE Amex: KAD) a leading provider of home care, medical staffing, and pharmacy services under the Arcadia HealthCare(SM) brand, today announced the sale of its JASCORP retail pharmacy management software business.

Arcadia sold the JASCORP services and systems, including dispensing and billing software used by pharmacies in 39 states and Puerto Rico, to a leading pharmacy benefits management company for $2.2 million in cash.

"In line with our strategic growth objectives, Arcadia has retained the intellectual property and source code necessary to support our DailyMed pharmacy business, while exiting and monetizing the non-core pharmacy management system side of the business," said Marvin R. Richardson, President and CEO of Arcadia Resources. "By divesting ourselves of the customer base associated with the JASCORP system, we reduced debt and continued our efforts to focus our resources on our rapidly growing DailyMed business and core home care and medical staffing operations."

Under the terms of the agreement, Arcadia will retain certain proprietary software, source code and interfaces associated with the DailyMed(TM) platform and the internal programming resources, network and IT system's support for its DailyMed Pharmacy. The JASCORP software platform represented approximately $2.1 million in annual revenue in Arcadia's Pharmacy segment.

Richardson added, "It's important to note that we have secured a buyer that will maintain the high level of service our customers have come to expect. In addition, we are selling the business for a higher price th
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SOURCE Arcadia HealthCare
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