Formation Capital, Safanad to buy Extendicare’s U.S. business for $870 mln

Extendicare has agreed to sell substantially all of its U.S. business operations to an investor group led by U.S. private equity firm Formation Capital and Safanad for US$870 million. The deal is expected to be closed in early 2015. Based in Markham, Ontario, Extendicare is a North American provider of post-acute and long-term senior care services.

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