Extendicare acquires CBI Home Health
Torys acted as counsel to Extendicare with a team that included Laurie Duke, Marco Pontello and Mitchell Hayes (corporate/M&A), Omar Wakil and Ian Li (competition), Tom Stevenson and Parker Baglole (employment), Graham Rawlinson and Kaleigh MacPherson (real estate), Teresa Reguly and Mavra Choudhry (regulatory/IP), Gwen Watson and Robby Wang (tax).
On April 1, 2026, Extendicare Inc. (“Extendicare”) announced that its wholly-owned home health care subsidiary, ParaMed Inc. (“ParaMed”), completed the previously announced definitive agreement, dated November 19, 2025, to acquire all of the equity interests of CBI Home Health LP and CBI (GP) 3 Inc. and their respective subsidiaries (collectively, “CBI Home Health”), from CBI Health LP and CBI GP Holdco Inc. for a cash purchase price of C$570 million, subject to customary adjustments, plus approximately C$13.6 million in estimated lease liabilities.
The acquisition was funded through a fully-committed C$264.5 million upsizing of Extendicare’s existing credit facilities, a new C$150 million equity bridge facility, as well as a C$200 million bought deal private placement equity offering announced concurrent with the acquisition.
Further information can be found on Globe Newswire’s website.
CBI Home Health is a national home health care company, delivering over 10 million hours of care annually across seven provinces, anchored by sizeable Ontario and Alberta operations.
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 operates a network of 99 long-term care homes (59 owned, 40 under management contracts), deliver approximately 13.5 million hours of home health care services annually, and provide group purchasing services to third parties representing approximately 152,100 beds across Canada.