Extendicare Inc. Expands Care Network with $60.3 Million Acquisition of Long-Term Care Homes
- Extendicare Inc. acquired nine long-term care homes from Revera Inc. for $60.3 million, enhancing its care network.
- The acquisition expands Extendicare's facilities to 99, addressing the growing demand for long-term care services in Canada.
- Extendicare plans to redevelop Carlingview Manor into a 320-bed facility, emphasizing its commitment to improving care environments.
### Extendicare Expands Care Network with Strategic Acquisition
Extendicare Inc. completes a significant acquisition on June 1, 2025, purchasing nine “Class C” long-term care homes from Revera Inc. for approximately $60.3 million. This transaction includes $40.2 million in cash and the assumption of $20.1 million in liabilities, which encompass government funding obligations and capital maintenance projects. The deal also secures a parcel of vacant land in Ontario, further reinforcing Extendicare's commitment to enhancing its infrastructure in the Canadian long-term care sector. By integrating these homes into its existing network, Extendicare aims to bolster its capacity to provide quality care to an increasingly aging population.
The newly acquired homes are strategically located in Ontario and Manitoba, areas with rising demand for long-term care services. This acquisition expands Extendicare's footprint, which now comprises 99 facilities—59 owned and 40 managed. The company's mission revolves around delivering high-quality care, and this expansion is a direct response to the growing need for such services in Canada. With around 11.2 million hours of home health care services provided annually and group purchasing services for approximately 148,200 beds, Extendicare strengthens its position as a key player in the long-term care industry.
A highlight of this acquisition is the redevelopment of Carlingview Manor, one of the properties acquired, which is set to be transformed into a state-of-the-art 320-bed long-term care home. This redevelopment is part of a joint venture between Extendicare and Axium, emphasizing the company's strategic focus on improving care environments. Through these efforts, Extendicare not only aims to meet current demand but also anticipates future needs in long-term care, aligning with its commitment to the well-being of seniors across Canada.
In addition to expanding its physical presence, Extendicare's acquisition reflects a proactive approach to address the challenges faced in long-term care. The integration of these homes into their existing operations allows Extendicare to leverage its extensive experience and resources, ensuring that quality care remains at the forefront of its mission.
This acquisition marks a significant step for Extendicare as it navigates the complexities of the long-term care industry while prioritizing the needs of its residents and their families. The company's continued growth demonstrates its dedication to enhancing the quality of life for seniors, a critical aspect of its operational philosophy.