Extendicare Inc. announced the Company has entered into a definitive agreement to acquire the Revera Home Health business from Revera Inc. for $83 million in cash, before working capital adjustments. The completion of the Transaction is subject to customary closing conditions and regulatory approvals, including assignment of government contracts, and is expected to close following receipt of regulatory approvals. The Transaction is expected to be temporarily financed with a fully committed bridge loan of up to $80 million (the “Bridge”) and cash on hand. The purchase price of $83 million represents a multiple of approximately 6.5 times estimated 2015 EBITDA. Revera Home Health is a leading private-sector home health care provider in Canada, serving 31 communities across six provinces (Ontario, British Columbia, Alberta, Quebec, Manitoba and Nova Scotia) and employing approximately 5,700 people. Extendicare, through its ParaMed Home Health Care division (ParaMed), is currently the largest private-sector home health care provider in Ontario, with approximately 98% of its revenue generated from government contracts. Through close to 5,200 dedicated individuals serving 21 communities, ParaMed provided 5.1 million hours of service during the trailing twelve month period ended September 30, 2014, generating revenue of $182.7 million. We anticipate that the acquisition will initially generate revenue of approximately $189 million.