Arcadia starts pharmacy project

September 11, 2008
Nearly a year after Arcadia Resources Inc. moved its headquarters from Michigan to Indianapolis, the company has started work on an additional pharmacy operation nearby that is expected to employ 130 by the end of 2010.

Arcadia, based at 9229 Delegates Row on the northeast side, said today it has finalized a lease on 7,000 square feet and that the first employees will be hired by the end of the year.

The pharmacy operation is a new business that packages medication for seniors into convenient packages for meal time or a daily basis.

After the pharmacy operation is fully launched, Arcadia anticipates having a total of 400 employees in the state.

The company, which has focused on home care and staffing, was lured to Indianapolis by its central location and more than $6 million in incentives.

Arcadia shares are trading at 27 cents each, down from a peak of $3.44 two years ago.

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