Extendicare Inc. has made a new deal to buy three more retirement communities – two of them in Saskatchewan.
The $78.6-million agreements are expected to close on Dec. 1. The properties are located in Regina, Saskatoon, and the small southwestern Ontario town of Tillsonburg.
The homes will be added to Extendicare’s network of senior-care centres, which totalled 112 locations at the end of September.
Extendicare announced the deals along with its latest financial report, which showed the Toronto-area company had $263 million of revenue in the third quarter up $55.4 million or 26.7 per cent from last year.
The company recorded a $204.7 million gain from the sale of its U.S. operations, which helped push Extendicare’s net profit to $216.3 million.
Net operating income was $34.8 million, up $6.1 million from a year earlier.