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M&A Deal Summary

Extendicare Acquires Revera - Nine Long Term Care Homes

On November 28, 2024, Extendicare acquired consumer services company Revera - Nine Long Term Care Homes from Revera for 60M USD

Acquisition Highlights
  • This is Extendicare’s 1st transaction in the Consumer Services sector.
  • This is Extendicare’s 5th largest (disclosed) transaction.
  • This is Extendicare’s 6th transaction in Canada.
  • This is Extendicare’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2024-11-28
Target Revera - Nine Long Term Care Homes
Sector Consumer Services
Buyer(s) Extendicare
Sellers(s) Revera
Deal Type Divestiture
Deal Value 60M USD

Target

Revera - Nine Long Term Care Homes

Ontario, Canada
Revera's Nine Long Term Care Homes provide 1,396 beds in nine homes, seven of which consist of a mix of 361 funded LTC beds and 574 private pay retirement beds.

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Buyer(S) 1

Buyer

Extendicare

Markham, Ontario, Canada
Category Company
Founded 1968
Sector Healthcare Services
Employees23,000
Revenue 1.3B CAD (2023)
DESCRIPTION

Extendicare Real Estate Investment Trust operates as an unincorporated, open-ended limited purpose trust. It operate as a supplier of long-term care services in Canada with an aim of helping to relieve an overburdened hospital system. Extendicare was incorporated in 1968 and is headquartered in Markham, Canada.

DEAL STATS #
Overall 10 of 10
Sector (Consumer Services) 1 of 1
Type (Divestiture) 6 of 6
State (Ontario) 2 of 2
Country (Canada) 6 of 6
Year (2024) 1 of 1
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-23 West Park Crossing Retirement Community

Moose Jaw, Saskatchewan, Canada

West Park Crossing Retirement Community with 158 suites. The properties are newly built 79-suite communities offering independent, enhanced and memory care services.

Buy -

Seller(S) 1

SELLER

Revera

Toronto, Ontario, Canada
Category Company
Founded 1961
Sector Real Estate
DESCRIPTION

Revera owns and/or asset manages 91 senior living properties in North America. Revera was founded in 1961 and is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
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