Topic: How To Invest

Stock Pickers Digest Hotline – Friday, August 17, 2018

Article Excerpt

EXTENDICARE INC., $8.22, symbol EXE on Toronto, owns 67 senior-care facilities, which can house 8,906 residents on either a long- or short-term basis. It manages another 53 residences that are home to 6,632 seniors. Extendicare also operates 35 ParaMed Home Health Care branches in six provinces. ParaMed provides nursing care and other forms of assistance to clients who remain in their own homes. In the three months ended June 30, 2018, the company’s revenue rose 2.1%, to $279.5 million from $273.8 million a year earlier. Cash flow rose 18.6%, to $17.1 million, or $0.19 a share, from $14.4 million, or $0.16. Provinces regulate nursing homes in Canada, and they provide substantial funding. Both of these are subject to extensive and frequently changing standards. But to offset that, Extendicare continues to expand its private-pay retirement segment. These operate under its Esprit Lifestyle Communities brand. Following the April 2018 acquisition of the Lynde Creek Retirement Community in Whitby, Ontario, for $34.5 million, Esprit now owns and…

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