Extendicare completes Assisted Living Concepts buy for $278 million
Extendicare Health Services, the huge U.S. assisted-living and nursing home chain, is now even larger with its purchase of Assisted Living Concepts. Extendicare announced the $278 million deal's closing Monday.
The company, which is based in Markham, Ontario, with U.S. offices in Milwaukee, is now the fifth-largest assisted living company in the United States, moving up from no. 23. Assisted Living Concepts is based in Dallas.
Extendicare gained 177 assisted-living facilities with about 7,000 beds in the transaction. It now has a total of 214 assisted-living facilities in the U.S. with 9,000 beds. U.S. operations also include 148 skilled-nursing centers.
Extendicare revenues totaled $736 million in the first nine months of 2004. The transaction included the assumption of Assisted Living debt of $138 million.