INDIANAPOLIS Arcadia Resources, a provider of home health care, medical staff, durable medical equipment and specialty pharmacy services under its proprietary DailyMed program, has appointed Matthew Middendorf as its permanent chief financial officer, effective Feb. 1.
Middendorf succeeds Lynn Fetterman, who has been employed as interim chief financial officer since February 2007. Fetterman will remain with the company through the conclusion of his employment agreement on May 24.
“On behalf of Arcadia HealthCare, I want to thank Lynn for contributing significantly to Arcadia’s turnaround. I am pleased that he will continue to assist us to ensure a smooth transition. We wish Lynn well in his future endeavors,” stated Marvin Richardson, president and chief executive officer of Arcadia. “We are excited that Matt is joining our executive team as Arcadia’s permanent chief financial officer. Together, we will work to build Arcadia’s long-term value and to continue our mission of keeping people at home and healthier longer.”
Middendorf previously served as a consultant to Arcadia HealthCare, providing day-to-day financial and accounting support to the interim chief financial officer and working on special projects for the chief executive officer.
In February 2007, Arcadia Resources acquired all of the membership interests of PrairieStone Pharmacy—a move that completed PrairieStone’s transition from an owner to an operator, manager and service provider to pharmacies. Before being named president and chief executive officer of Arcadia in May 2007, Richard served as president and chief executive officer of PrairieStone.