On November 19, 2025, Extendicare Inc. announced that ParaMed Inc., its wholly-owned home health care subsidiary, has entered into a definitive agreement to acquire CBI Home Health, a national home health care company operating across seven provinces. The acquisition is valued at $570.0 million in cash plus approximately $13.6 million in estimated lease liabilities under IFRS 16, strengthening Extendicare's national leadership in home health care services.

CBI Home Health delivers over 10 million hours of care annually through approximately 8,500 team members, providing comprehensive publicly funded services including hospital-to-home programs and specialized community support. For the twelve months ended July 31, 2025, the company generated approximately $477.9 million in revenue with Adjusted EBITDA of approximately $61.9 million. The transaction represents a 9.4x Adjusted EBITDA multiple, improving to 8.4x after accounting for expected post-acquisition synergies of $7.4 million. Additional synergies of $5.0 to $7.0 million are anticipated over a longer integration period.

Extendicare is funding the acquisition through a private placement of 10.64 million common shares at $18.80 per share, generating approximately $200 million, and a $264.5 million credit facility increase, resulting in pro forma total debt of 3.3x Adjusted EBITDA as of September 30, 2025.

Legal advisors include Torys LLP for Extendicare, Blake, Cassels & Graydon LLP for underwriters, Stikeman Elliott LLP for CBI Home Health, and McCarthy Tétrault LLP for Canadian Imperial Bank of Commerce. CIBC Capital Markets serves as financial advisor to Extendicare. Closing is anticipated in Q1 2026.