Extendicare Expands Senior Care Services with Acquisition of Nine Long-Term Care Homes

Extendicare ( (TSE:EXE) ) has issued an update.

Extendicare Inc. has completed the acquisition of nine ‘Class C’ long-term care homes from Revera Inc. in Ontario and Manitoba, along with a parcel of vacant land in Ontario, for approximately $60.3 million. This strategic acquisition, funded by cash on hand, expands Extendicare’s footprint in the senior care industry, enhancing its capacity to provide quality care to a growing senior population. The transaction underscores Extendicare’s commitment to meeting the increasing demand for senior care services and strengthens its market position in Canada.

The most recent analyst rating on (TSE:EXE) stock is a Hold with a C$11.00 price target. To see the full list of analyst forecasts on Extendicare stock, see the TSE:EXE Stock Forecast page.

Spark’s Take on TSE:EXE Stock

According to Spark, TipRanks’ AI Analyst, TSE:EXE is a Outperform.

Extendicare’s robust earnings growth and strategic acquisitions are the most significant positive factors, supported by strong market momentum and a fair valuation. However, financial risk due to high leverage and regulatory uncertainties temper the overall score.

To see Spark’s full report on TSE:EXE stock, click here.

More about Extendicare

Extendicare is a prominent provider of senior care services in Canada, operating under multiple brands including Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network. The company manages a network of 99 long-term care homes, delivers extensive home health care services, and offers group purchasing services across Canada. Extendicare employs approximately 26,500 staff dedicated to delivering high-quality care to seniors.

Average Trading Volume: 203,453

Technical Sentiment Signal: Buy

Current Market Cap: C$1.21B

See more insights into EXE stock on TipRanks’ Stock Analysis page.