Extendicare

Extendicare Inc.
Company typePublic
TSX: EXE
IndustrySeniors' housing
Founded1968 Edit this on Wikidata
Headquarters
Markham, Ontario
,
Canada
Number of locations
Alberta, Ontario, Saskatchewan
Key people
Michael Guerriere (CEO)
RevenueCA$1,155.3 million (2020)[1]
Number of employees
23,000 (2018)
Websiteextendicare.com

Extendicare Inc. is a Canadian for-profit long-term care (LTC) provider that offers housing, care and related services to seniors. It operates over 100 care facilities and is based in Markham, Ontario. The company operates retirement residences and long-term care facilities under the Extendicare, Esprit Lifestyle and ParaMed brands, with 23,000 employees.[2]

In 2006, the company became a real estate investment trust (REIT) and began trading on the Toronto Stock Exchange (TSX) under the symbol EXE.UN on November 10, 2006.[3] In 2012, the company completed its conversion from an income trust structure named Extendicare Real Estate Investment Trust to a corporate structure named Extendicare Inc.[4]

Extendicare owns and operates dozens of long-term care and retirement facilities, with the majority in Ontario and 11% in Alberta. The company has a number of significant subsidiaries and divisions, including ParaMed, Esprit Lifestyle Communities, Extendicare Assist, and its Purchasing Partner Network division, SGP.

From January to September 2020, Extendicare paid out about CA$29 million to shareholders. During the same period, Extendicare's ParaMed division received CA$82.2 million from the Canada Emergency Wage Subsidy (CEWS).[5] The company said that government funds went to LTC workers directly, not towards dividends.

  1. ^ Cite error: The named reference globenewswire_20210226 was invoked but never defined (see the help page).
  2. ^ "Extendicare Announces July 2019 Dividend of C$0.04 per Share". The Globe and Mail. July 15, 2019.
  3. ^ "TMX Money". Retrieved August 5, 2019.
  4. ^ "Extendicare Investors". Retrieved August 5, 2019.
  5. ^ Cite error: The named reference thestar_Wallace_20201226 was invoked but never defined (see the help page).