SECURITIES AND EXCHANGE COMMISSION
                           Washington, DC  20549     

     
                                 FORM 8-K           

                          Current Report Pursuant
                       to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

                     Date of Report: November 12, 1998


                    ACADIA NATIONAL HEALTH SYSTEMS, INC.
           (Exact Name of Registrant as Specified in its Charter)


                                  COLORADO               
               (State or Other Jurisdiction of Incorporation)


               0-28976                                010509781
     (Commission File Number)          (I.R.S. Employer Identification Number)

   95 Park Street, Lewiston, Maine                      04240
(Address of Principal Executive Offices)             (Zip Code)


                               (207) 777-3423
                               (800) 274-9185
            (Registrant's Telephone Number, Including Area Code)

  

INFORMATION INCLUDED IN THIS REPORT


ITEMS 1 THROUGH 4, 6 THROUGH 9 NOT APPLICABLE.


ITEM 5.     OTHER EVENTS.

(i) Reference is made to the press release issued to the public by the 
    Registrant on November 5, 1998, the text of which is attached hereto as 
    Exhibit 99.1, for a description of the events reported pursuant to this 
    Form 8-K.

  

INDEX TO EXHIBITS

Exhibit Description

     99.1 Text of press release dated November 5, 1998

  

Exhibit 99.1

ACADIA NATIONAL HEALTH SYSTEMS, INC. ANNOUNCES THE ACQUISITION OF MEDICAL 
FINANCIAL SERVICES, INC., BANGOR, MAINE, THROUGH A LIMITED ASSET PURCHASE 
AGREEMENT

Lewiston, Maine --(BW HealthWire)--Nov. 5, 1998-- Paul W. Chute, Acadia's 
Chairman and CEO, said, "the management and professional staff of Medical 
Financial Services brings to Acadia, (OTC BB: ACAD), a wealth of knowledge and 
years of experience through its existing lines of medical billing and practice 
management consulting services."  "What adds additional value is Medical 
Financial Services' expertise in nursing home and rural health center 
operations management, billing and cost reporting," added Mr. Chute.  

Acadia specializes in Medical Billing and Practice Management Consulting 
Services throughout northern New England. Its clients range from hospital 
ambulatory departments to hospital based physicians such as radiology, 
pathology, anesthesiology to independent medical providers like surgery, 
behavioral health, pulmonology, internal and family practice medicine, rural 
health centers and now nursing homes.

Acadia recently announced the acquisition of Northeast Medical Billing in 
Keene, New Hampshire, with clients in New Hampshire, Vermont and 
Massachusetts.  "What we look for in all our relationships is the quality and 
experience of management and staff," said Mr. Chute. "Our business philosophy 
is based on 'Great People Add Value', and both acquisitions add seasoned 
professionals with proven commitment to their clients and a desire to continue 
their work for Acadia."  

Acadia also announces the appointment of Steven I. Weisberger, DO, to its 
Board of Directors.  Dr. Weisberger is a full time practicing family physician 
and past President of the Maine Osteopathic Society.  Dr. Weisberger offers 
ownership and management experience within rural health centers, nursing homes 
and medical billing and practice management services organizations. Dr. 
Weisberger, DO joins Dr. John Crispin, MD on Acadia's Board of Directors.  
"Our commitment to our clients is to bring professionals within medicine to 
leadership positions within Acadia," said Mr. Chute.

Acadia, anticipates fiscal year ending September 30, 1998 pre-tax earnings of 
$.02 per share compared to $.0005 last year. Gross sales for FY '98, are 
anticipated at $1,150,000 vs. $748,000 for FY '97 or a 53% increase.  "Gross 
sales for FY '99 are anticipated at $2,600,000 or an 126% increase over FY '98 
due to recent acquisitions and continual sales emphasis", reports Mr. Chute, 
who also offers "our goals are to add value to our clients and share holders 
through superior services with great people."

Further information contact:

Acadia National Health Systems
Investor Relations
(207) 777-3423
(207) 784-7743 (fax)
email:  acadnat@exploremaine.com

  

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                              ACADIA NATIONAL HEALTH SYSTEMS, INC.

                              /s/ Paul W. Chute

DATE: November 13, 1998       By:    PAUL W. CHUTE        
                              Name:  Paul W. Chute
                              Title: Chief Executive Officer