Arcadia buys Carolina care firm

May 2, 2008

Indianapolis-based Arcadia Resources Inc. has acquired a small in-home health care company in North Carolina for an undisclosed price.

Carolina Care generated $2.1 million in revenue last year serving Medicaid patients from three locations. Both companies have home health care offices in Winston-Salem, N.C., which Arcadia plans to merge to save money.

"Expanding our in-home care business throughout the U.S. is a strategic area of focus," Arcadia CEO Marvin Richardson said in a statement. "By capitalizing on the reputation of Carolina Care, we can enhance or balanced revenue mix and focus on high margin services such as in-home health care."

Arcadia has 92 locations in 22 states. It employs 5,000 full- and part-time workers.

The company moved its headquarters to Indianapolis from Michigan last fall.
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