INDIANAPOLIS, Nov. 9 /PRNewswire-FirstCall/ -- Arcadia Resources, Inc. , a leading provider of innovative consumer health care services under the Arcadia HealthCare(SM) brand, today announced that it has received commitments from institutional investors to purchase $11.1 million of securities in a registered direct offering. Under the terms of separate Subscription Agreements with the investors, Arcadia will sell an aggregate of 15,857,141 units. Each unit, which consists of one share of common stock and a warrant to purchase 0.45 shares of common stock, will be sold for a purchase price of $0.70.
Burnham Hill Partners, LLC acted as the exclusive placement agent for the transaction.
About Arcadia HealthCare(SM)
DailyMed(TM) Pharmacy dispenses a monthly cycle of a patient’s prescriptions, over-the-counter medications and vitamins, and organizes them into pre-sorted packets clearly marked with the date and time the medications should be taken. In the dispensing process, a DailyMed pharmacist reviews each patient’s medication profile and utilizes state-of-the-art medication therapy management tools in order to improve the safety and efficacy of the medications being dispensed. A DailyMed pharmacist provides routine communication with the patient, the primary care physician, caregivers and payers in order to maximize the pharmaceutical care administered. The DailyMed program improves patient care and drug utilization while reducing drug and hospitalization costs for private and government payers.
CONTACT: Matthew Middendorf, Chief Financial Officer, +1-317-569-8234
x106, mmiddendorf@arcadiahealthcare.com
