Arcadia completes financing
Indianapolis, USA-based Arcadia Resources, a provider of innovative consumer health care services, says that it has successfully completed a restructuring of $24.0 million of its outstanding debt, extending the maturity to April 2012, and raising an additional $3.0 million in working capital.
It also said sales of its DailyMed medication management system are expected to be 40% higher in the fourth quarter ended March 31, compared with the most recent third quarter, exceeding previous projections. But it expects that its fiscal 2009 fourth quarter EBITDA loss from continuing operations will exceed the loss reported for the third quarter, due to declines in industrial and medical staffing revenues and expenses related to the ramp-up of the new Indianapolis pharmacy operations.
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