Extendicare (TSE:EXE) has released an update.
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Extendicare Inc. is set to acquire nine long-term care homes from Revera Inc. for approximately $60.3 million, enhancing its redevelopment pipeline with around 1,100 new beds. This strategic move is expected to offset the reduction in management fees and potentially recover most of the purchase price by selling seven retirement homes post-redevelopment.
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