Leisureworld Senior Care Corporation has acquired a portfolio of 10 properties in Ontario consisting of 6 long-term care (LTC) homes, two retirement residences and teo properties containing both LTC and retirement residences components from Specialty Care Inc. and certain other parties. The acquisition comprises in total 1,235 LTC beds and 326 retirement suites, as well as the third party seniors living management business operated by Specialty Care Inc. The aggregate gross purchase price is approximately $254 million, which does not reflect a mark-to-market adjustment on assumed debt as of the closing, currently estimated at $10 million.
“We are focused on continuing to grow Leisureworld as a leading provider of LTC homes and retirement residences. Specialty Care is a high-quality acquisition with a brand that is well recognized and respected in the industry,” said Dino Chiesa, Chair of the Board.