INDIANAPOLIS, Nov. 9, 2010 /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
fiscal 2011 second quarter net revenues of $25.8 million and a net
loss of $2.9 million, or $0.02 per share, which compares to net
revenue of $25.1 million and a net loss of $4.1 million, or $0.03
per share, for the same period in fiscal 2010.
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“During our second quarter we continued to make substantial
progress on a number of fronts,” said Marvin R. Richardson,
President and Chief Executive Officer of Arcadia.
“Importantly, we executed a new three year agreement with
WellPoint’s State Sponsored Business which aligns our interests
with WellPoint’s and ensures that DailyMed will continue to be a
cornerstone of WellPoint’s programs to improve their members’
health and well-being. Importantly, under our agreement with
WellPoint, for the first time in our history, we recognized revenue
attributable to our patient care services we provide as part of our
DailyMed patient care program. We believe this validates our
core value proposition and looking forward our focus in our
Pharmacy segment will be to continue to scale this business model
with WellPoint and additional healthcare payors. Our new
agreement with Touchstone Health further validates the growing
acceptance among payers regarding the value of our DailyMed
program, and we look forward to our market introduction to
Touchstone’s members beginning in January.”
“From an operational stand point, our Pharma
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