Extendicare Inc. has announced that it has entered into an agreement with Revera Inc. and certain of its affiliates to acquire nine Class C long-term care homes located in Ontario and Manitoba and one parcel of vacant land located in Ontario
“This transaction adds approximately 1,100 beds to our redevelopment pipeline, giving us control of the redevelopment process for these homes,” said Dr. Michael Guerriere, President and CEO of Extendicare.
Closing of the Transaction is subject to customary closing conditions, including receipt of regulatory approvals from the Ontario Ministry of Long-Term Care, Ontario Retirement Home Regulatory Authority, and Manitoba Health and Winnipeg Regional Health Authority, and is not conditional on financing or due diligence. The Transaction is anticipated to close in mid-2025.
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