Extendicare Acquires Nine Long-Term Care Homes from Revera
Deal News | Jun 03, 2025 | Globenewswire
Extendicare Inc., a notable entity in Canada's senior care services sector, has finalized the acquisition of nine Class C long-term care homes from Revera Inc., along with a parcel of vacant land. The transaction, effective as of June 1, 2025, was valued at approximately $60.3 million, with $40.2 million paid in cash and $20.1 million assumed as liabilities, including obligations related to government funding and capital maintenance projects. The acquired properties, situated in Ontario and Manitoba, will enhance Extendicare's existing portfolio, which comprises long-term care facilities and extensive home health care services. This strategic move aligns with Extendicare's mission to meet the increasing demands of the senior population across Canada.
Sectors
- Healthcare Services
- Real Estate
Geography
- Canada – The article focuses on Extendicare's operations and acquisitions within Canada, specifically in Ontario and Manitoba.
Industry
- Healthcare Services – The article discusses Extendicare's acquisition in the long-term care sector, a part of the broader healthcare services industry.
- Real Estate – The acquisition includes the purchase of a parcel of vacant land, linking the transaction to the real estate industry.
Financials
- $60.3 million – Total consideration for the acquisition of nine long-term care homes and a parcel of vacant land.
- $40.2 million – Cash paid by Extendicare for the acquisition.
- $20.1 million – Liabilities assumed by Extendicare, including government funding reimbursement obligations and committed capital maintenance project obligations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Extendicare Inc. | Buyer | Company | A leading provider of senior care services across Canada, operating multiple brands and a significant network of care homes and health services. |
| Revera Inc. | Seller | Company | A company engaged in the ownership, operation, and investment in the senior living sector. |
| David Bacon | Executive Vice President and Chief Financial Officer | Person | Contact for investor inquiries at Extendicare Inc. |