Extendicare REIT buys U.S. nursing home operator
MARKHAM, Ontario – Extendicare REIT of Markham has acquired Michigan-based Tendercare, a private nursing home operator, for US$232 million. The purchase, which includes 30 senior care facilities, was completed through Extendicare’s U.S. subsidiary, Extendicare Health Services.
The facilities acquired include 29 skilled nursing facilities and one rehabilitation hospital, representing a total of 3,300 beds in Michigan. The deal increases Extendicare’s resident capacity by about 12 per cent, bringing the number of total facilities to 267 in North America with about 30,200 beds.
Previously, Extendicare’s largest presence in the U.S. was in Pennsylvania, with 2,625 beds in 21 facilities, followed by 2,354 beds in 23 facilities in Ohio. In Canada, the company has major holdings with in 3,834 beds in Ontario and 1,137 beds in Alberta.
For more information, www.extendicare.com