Southfield, Mich.
The latest in a list of HME providers to move operations into Wal-Mart, Arcadia Resources said last month it has leased space in one of the giant retailer's Florida stores.
Located inside a Wal-Mart in St. Petersburg, Fla., the Arcadia-branded store will sell its full line of DME and respiratory equipment, including sleep apnea equipment and nebulizers, wheelchairs, scooters, stair lifts and beds along with other patient safety and mobility items.
Arcadia, which went public in July, announced record revenues of $37.6 million for the quarter ended June 30.
The company, which provides home care and staffing services, mail order pharmacy and DME, said its revenues rose 22 percent from $30.7 million in the same quarter last year, citing internal growth and acquisitions. The company's expansion into pharmacy and DME began in May 2004, and Arcadia has completed more than 20 acquisitions within the past two years.
According to Chairman and CEO John Elliott, the fact that only 27 percent of Arcadia's revenues come from government sources has helped the company thrive in a tough reimbursement climate.
“Our diverse product and service offerings somewhat insulate us from unfavorable changes in reimbursement from any group of payors or customers,” he said, adding that Arcadia expects to continue to expand its consumer sales through retail channels and walk-in medical clinics.
The company announced in June that it plans to open nine walk-in clinics staffed by its nurse practitioners in Meijer superstores in Indiana. In October, Arcadia opened six Sears Home Health Care centers selling DME in the Detroit area, and earlier last year gained licensing rights to distribute Sears' Shop at Home catalog of home health and wellness products.
