Extendicare closes $870 mln sale of U.S. business to PE-led consortium
Extendicare Inc (TSX: EXE) has wrapped up the previously announced sale of its U.S. business for US$870 million. The buyer was a group of investors led by U.S. private equity firm Formation Capital and an affiliate of Dubai's Safanad. Headquartered in Markham, Ontario, Extendicare operates a network of 112 senior care centres as well as a home healthcare business. The company's President and CEO Tim Lukenda said the sale of its U.S. assets will facilitate its strategic re-positioning as a pure-play Canadian senior care and services provider.
7 July 2015•4 mins read
