Core Viewpoint - Extendicare has announced the acquisition of CBI Home Health, indicating a strategic move to enhance its service offerings in the home health sector [1]. Group 1: Acquisition Details - The acquisition of CBI Home Health was officially announced by Extendicare, with key executives participating in the discussion [1]. - Kathryn Bradley, Vice President of Corporate Development, introduced the call and highlighted the significance of the acquisition [1]. Group 2: Executive Insights - Michael Guerriere, President and CEO of Extendicare, is involved in the presentation, suggesting leadership's commitment to the acquisition [1]. - David Bacon, Executive Vice President and Chief Financial Officer, is also part of the discussion, indicating financial oversight in the acquisition process [1].

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Core Points - Extendicare Inc. has completed the acquisition of nine "Class C" long-term care homes and a parcel of vacant land from Revera Inc. effective June 1, 2025 [1] - The total consideration for the transaction was approximately $60.3 million, consisting of $40.2 million in cash and the assumption of $20.1 million in liabilities [2] - The acquired homes include a total of 822 long-term care beds and 574 retirement beds across various locations in Ontario and Manitoba [3] Financial Details - The purchase price was funded from cash on hand, excluding transaction costs [2] - The liabilities assumed include government funding reimbursement obligations and committed capital maintenance project obligations [2] Operational Insights - Carlingview Manor is undergoing redevelopment into a new 320-bed long-term care home, owned by a joint venture between Extendicare and Axium [4] - Extendicare operates a network of 99 long-term care homes, providing approximately 11.2 million hours of home health care services annually [5] - The company employs around 26,500 qualified team members dedicated to delivering high-quality care [5]

Company Overview - Extendicare Inc. is a leading provider of care and services for seniors across Canada, operating under various brands including Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network [2] - The company operates a network of 122 long-term care homes, with 51 owned and 71 under management contracts [2] - Extendicare delivers approximately 11.0 million hours of home health care services annually and provides group purchasing services to third parties representing around 146,300 beds across Canada [2] - The company employs approximately 24,000 qualified and dedicated team members focused on delivering high-quality care and services [2] Recent Financial Announcement - Extendicare has declared a cash dividend of C$0.042 per common share for March 2025, payable on April 15, 2025, to shareholders of record as of March 31, 2025 [1]

Core Insights - Extendicare Inc. reported strong fourth quarter and full year results for 2024, highlighting significant growth in net operating income (NOI) and margins across all segments, driven by strategic transformations implemented over the past two years [4][15][20] Financial Performance - Revenue for Q4 2024 increased by 11.8% to $391.6 million, primarily due to long-term care (LTC) funding increases and growth in home health care services [15][28] - NOI for Q4 2024 rose to $53.8 million, reflecting a 27.1% increase when excluding out-of-period funding [15][28] - Adjusted EBITDA for Q4 2024 increased to $39.7 million, aligning with the growth in NOI [15][28] - Net earnings for Q4 2024 increased by $11.3 million to $19.9 million, driven by improved Adjusted EBITDA and a decline in other expenses [15][28] Business Segments - Long-term care revenue increased by 9.0% to $224.9 million in Q4 2024, with average occupancy rising to 98.0% [18][19] - Home health care revenue grew by 16.2% to $147.8 million in Q4 2024, supported by a 10.1% increase in average daily volume [21][22] - Managed services revenue increased by 13.8% to $18.8 million, driven by growth in SGP clients [24][25] Strategic Developments - The company announced an agreement to acquire nine LTC homes from Revera for approximately $60.3 million, expected to close in Q2 2025 [5][6] - Extendicare opened a new 192-bed LTC home in Kingston and a 256-bed LTC home in Stittsville, enhancing its service capacity [10][11] - A new $275 million senior secured credit facility was established, enabling the early redemption of 2025 convertible debentures and providing flexibility for future capital allocation [4][12] Dividend and Shareholder Returns - The company increased its dividend by 5.0% to 4.2 cents per month, reflecting improved performance and a payout ratio below 50% [13][15] Financial Position - As of December 31, 2024, Extendicare had cash and cash equivalents of $121.8 million, with access to an additional $108.5 million under its new credit facility [26][28]