Southbridge Expands Presence in Northern Ontario with Long Term Care Home Acquisitions

 

SOUTHBRIDGE EXPANDS PRESENCE IN NORTHERN ONTARIO
WITH LONG TERM CARE HOME ACQUISITIONS
Southbridge acquires three long term care homes in Thunder Bay from Revera

(Cambridge, ON – March 8, 2017) Today the Southbridge Health Care LP and Yorkville Long Term Health Care Fund announce its expansion in northern Ontario with the acquisition of three long term care homes in Thunder Bay, pending the Ministry of Health and Long Term Care’s approval. Currently operated by Revera Inc., a leading provider of seniors’ accommodation, care and services, the three long term care homes, Lakehead Manor, Pinewood Court and Roseview Manor, will operate under the Southbridge Care Homes’ banner, following acquisition.

“We are working very closely with Revera to ensure a smooth transition without any interruption in services or capacity,” states Keith McIntosh, President & CEO of Southbridge Care Homes. “This acquisition demonstrates our ongoing commitment to providing safe, caring and secure senior living environments in Ontario. We look forward to working with the dedicated teams of employees already established in these homes to continue delivering excellence in care and services.”

The approval of the transfer of long term care bed licenses in Ontario is governed by the Ministry of Health and Long Term Care, and the Southbridge transaction which is now under review, is expected to take several months. Currently, Southbridge operates 24 long term care and retirement communities across Ontario. This acquisition, along with the previously announced acquisition of the Provincial Long Term Care Home portfolio (which is currently awaiting final Ministry of Health and Long Term Care approval), will position Southbridge Care Homes as the fifth largest long term care home operator in the Province.

Southbridge Facts & Figures at a Glance (pre-acquisition of Provincial and Revera portfolios):
• Combination of 24 long term care & retirement communities
• Operations across 18 Ontario communities
• Capacity to care for over 2,200 residents
• Now employs over 2,300 employees

About Southbridge Care Homes                                                                                                           Southbridge Care Homes is a Canadian owned enterprise providing acquisition, management and redevelopment services to the long term care and retirement home sectors. Our mission is to operate a best-in-class portfolio of care homes and retirement communities that consistently deliver excellence in care and services in an economically sustainable manner. For more information, please visit www.southbridgecare.com.

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