February 21, 2008, Toronto Ont. – Abacus Seniors Living is pleased to announce the acquisition of Country Terrace, a 120 bed long term care home located in Komoka, Ontario. The home is located on the outskirts of London, Ontario in a peaceful rural setting with the convenience of a large urban area. Demand for long term care services in London and Middlesex County is exceptionally strong, with occupancies exceeding 99% for all homes in the area.
“Due to the dedication of its staff and its excellent location in a high demand market area, this home is a great complement to our existing portfolio” said Michael Chandler, Director of Abacus Seniors Living. “We look forward to continuing to provide the highest quality of care and comfort to the residents. We will continue to pursue acquisitions of quality, long term care homes in Canada that build on our existing portfolio and lend themselves to the OMNIway of quality health care.”
Advisory and consulting services will be provided by Omni Health Care Ltd, the current advisors
to Omni Healthcare Limited Partnership which owns 16 long term care homes in the Province of Ontario.
About Abacus Seniors Living
Abacus Seniors Living was created to acquire and operate seniors housing in Canada and the United States. To date it has completed acquisitions in Ontario and Quebec representing over 1,600 beds. Abacus Seniors Living is comprised of a highly regarded and experienced team of professionals that have developed a network of industry experts and an in-depth understanding of the economic drivers, inherent risks, and opportunities for growth and improvement in the nursing and retirement home industry.
About Omni Health Care Ltd.
Omni Health Care Ltd. has been a proud provider of long term care services for over thirty years. Through its exclusive relationship with Abacus Seniors Living, Omni looks forward to expanding its mission and to continuing to make a positive difference in all aspects of long term care through the OMNIway. Omni’s Mission is to experience Hope, Purpose and Belonging in health care by celebrating the lives, contributions, love and joy of people in a welcoming, nurturing and fun environment.
Visit www.omni-way.com for more information.
About Abacus Private Equity
Abacus Private Equity Group is an independent, entrepreneurial investment firm that has been acquiring Canadian and international corporations and partnerships since 1996. Since 2005 Abacus has acquired more than $1.5 billion in assets through its affiliated divisions. Abacus possesses depth of knowledge, expertise in diverse industries and substantial resources for new opportunities and is committed to making equity investments for long-term value appreciation.