Extendicare closes $570M CHI Home Health acquisition

Dr. Michael Guerriere reports EXTENDICARE ACQUIRES CBI HOME HEALTH Extendicare Inc.'s wholly owned home health care subsidiary, ParaMed Inc., has completed the previously announced acquisition of the equity interests of CBI Home Health LP, CBI (GP) 3 Inc. and their respective subsidiaries from CBI Health LP and CBI GP Holdco Inc. The acquisition was completed for a cash purchase price of $570.0-million, subject to customary adjustments, plus approximately $13.6-million in estimated lease liabilities in accordance with international financial reporting standard 16 (Leases). The acquisition was financed using a combination of the net proceeds of approximately $191.5-million from the company's previously announced private placement of common shares that was completed on Dec. 3, 2025, aggregate draws of approximately $308.2-million under the company's existing senior secured credit facility ($154.5-million delayed draw term facility and $153.7-million revolving credit facility) and cash on hand. "We are excited to welcome the CBI Home Health team to the Extendicare family," said Dr. Michael Guerriere, president and chief executive officer of Extendicare. "CBI's geographic footprint and its experience providing innovative care models is highly complementary to our existing home health platform," he added. "The combination of ParaMed and CBI Home Health will enable us to support more Canadians to live independently at home. We will leverage our industry-leading technology platform to drive superior operating performance and significant cost synergies to deliver strong value for our customers and shareholders." Advisers CIBC Capital Markets acted as financial adviser, and Torys LLP acted as legal adviser to Extendicare in connection with the acquisition. TD Securities and Houlihan Lokey acted as financial advisers, and Stikeman Elliott LLP acted as legal adviser to CBI Home Health in connection with the acquisition. About Extendicare Inc. Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, ParaMed, Extendicare Assist and SGP Purchasing Network brands. It is committed to delivering quality care to meet the needs of the growing seniors population, inspired by its mission to provide people with the care they need, wherever they call home. It operates a network of 99 long-term-care homes (59 owned and 40 under management contracts), delivers approximately 24.0 million hours of home health care services annually and provides group purchasing services to third parties representing approximately 153,600 beds across Canada. Extendicare proudly employs approximately 31,500 individuals and manages an additional 5,000 individuals through its joint ventures, all of whom are highly qualified, trained and dedicated team members who are passionate about providing high-quality care and services to help people live better. We seek Safe Harbor.