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Article: Arcadia sees Sun Belt as health care hot spot.(Focus)
- Article from:
- Crain's Detroit Business
- Article date:
- January 30, 2006
- Author:
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Michelle Martinez
Arcadia Resources Inc.'s strategy of growth by rapid acquisition has intrinsic risks. But the company says the potential rewards are just as great.
The Southfield-based home health care, staffing and durable medical-equipment company, created through a reverse merger, has acquired 18 companies in 20 months.
Arcadia says it's seeking more deals in such places as Michigan, Florida and Nevada.
"We're looking to expand in states heavy in retirement populations,'' said Arcadia CFO Rebecca Irish. "There's a huge base of people moving into Florida every day. We need a bigger concentration in the Southeast, maybe ...