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Arcadia's DailyMed Continues to Expand
INDIANAPOLIS, Aug. 4 -- Arcadia Resources, Inc. (NYSE Amex: KAD), a leading provider of innovative consumer health care services under the Arcadia HealthCare(SM) brand, has signed an agreement with a leading national in-home care provider Comfort Keepers((R) )to provide DailyMed(TM) for Comfort Keepers franchises in 14 states.
Arcadia said the program with Comfort Keepers will launch this month and includes franchisees in Southern California, Florida, Indiana, Kentucky, Maryland, Minnesota, Missouri, New York, North Carolina, Ohio, South Carolina, Texas, Virginia and Wisconsin. In addition to access to the DailyMed system, each Comfort Keepers franchisee will receive sales, marketing, and customer service from the DailyMed support team.
DailyMed is Arcadia's proprietary drug packaging system that combines patients' prescriptions and over-the-counter medicines and vitamins into compact rolls of packets. Comfort Keepers is a leading provider of non-medical, in-home care market for seniors and other adults needing care and spans more than 560 operating franchise locations in 47 states in the U.S., and 49 locations internationally.
"Our relationship with Comfort Keepers is the largest geographic expansion of DailyMed to date, and will help seniors served by Comfort Keepers across the nation safely and correctly manage their prescriptions," said Marvin R. Richardson, president and CEO of Arcadia. "In addition to fulfilling our vision of 'Keeping People At Home and Healthier Longer,' our relationship with Comfort Keepers is a further testament to the important need of better medication management in a vulnerable patient population. From a business standpoint, this is a critical milestone in our plans to continue to develop DailyMed into our fastest growing business segment and to quickly become a leading provider of pharmaceutical services to the senior care market."
James Booth, president and CEO of CK Franchising, Inc., franchisor of Comfort Keepers, said: "We completed an exhaustive review of prescription providers and believe DailyMed is the best solution for our franchisees and, most importantly, the consumers we serve. The system is easy to use and the DailyMed pharmacists are hands-on with customers, providing the ideal combination of convenience, security and lower health care costs. At the end of the day, other automated systems and related 'gadgets' do not provide the necessary pharmaceutical care and management that exists with the DailyMed solution."
Comfort Keepers said it plans to review the expansion of DailyMed into its remaining franchise territories in the latter half of 2009 and early 2010. Financial terms of the relationship were not disclosed. Arcadia said that as a result of recent developments with Indiana Medicaid, United Healthcare Group, WellPoint and now Comfort Keepers, DailyMed has become the fastest growing segment of Arcadia HealthCare.
According to the American Society of Consultant Pharmacists, medication-related problems create more than $177.4 billion in preventable health care costs in the United States. There are currently 36 million seniors in the U.S., with this number projected to exceed 70 million in the next several decades, according to the U.S. Census Bureau.
Founded in 1998 by a registered home health care nurse and her husband, Comfort Keepers has grown to more than 610 locations in the United States, Canada, Quebec, Ireland, Australia and Singapore. Comfort Keepers was recently recognized as among the Top 3 Franchise Systems in Senior Care by Entrepreneur Magazine. Arcadia's initial program with Comfort Keeper includes 54 territories or demographic market areas within the 14 states.
About Comfort Keepers
Comfort Keepers is a leading franchise in the non-medical in-home care market for seniors and other adults needing care. Since being founded in 1998, the company has grown to approximately 610 global franchise locations. The founders sought a viable solution to a growing senior care issue by providing in-home care services such as meal preparation, incidental transportation, medication reminders, and other services, allowing clients the opportunity to stay in their homes. Each office is independently owned and operated.
Arcadia HealthCare is a service mark of Arcadia Resources, Inc. (NYSE Amex: KAD), and is a leading provider of home care, medical staffing and pharmacy services under its proprietary DailyMed program. The Company, headquartered in Indianapolis, Indiana, has 72 locations in 21 states. Arcadia HealthCare's comprehensive solutions and business strategies support the Company's vision of "Keeping People at Home and Healthier Longer."
DailyMed 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.
Source: Arcadia Resources, Inc.