Topic: How To Invest

Power Growth Investor Hotline – Friday, November 29, 2024

Article Excerpt

EXTENDICARE INC., $10.62, is a buy. The company (symbol EXE on Toronto), owns and operates long-term care homes. Investors also tap the company’s ParaMed Home Health Care branches. ParaMed provides nursing care and other forms of assistance to clients who remain in their own homes. Extendicare 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. The purchase price is $60.3 million. The acquired homes encompass 1,396 beds in nine homes, seven of which consist of a mix of 361 funded LTC beds and 574 private pay retirement beds. The LTC beds in these seven homes are all Class-C beds, which Extendicare intends to redevelop and replace with six new LTC homes comprising a proposed 361 replacement beds and 727 new beds. Also included in the 1,396 beds is the 250 bed Class C Carlingview Manor home…