Extendicare - Athabasca

Description

Nestled alongside the mighty Athabasca River and amongst the land of the Whispering Hills the beautiful town of Athabasca is only 90 minutes northeast of Edmonton

Once contender for provincial capital this rural town nestled in the Boreal forest is thriving and growing Athabasca was the winner of the 2005 Community in Blooms competition and also boasts a wide variety of wildlife Deer can frequently be seen grazing near the home A diverse economic base of agriculture forestry oil and gas and Athabasca University all make Athabasca a wonderful place to live

Extendicare Athabasca is home to 50 residents in a quiet residential neighbourhood in the south end of town

Extendicare Athabasca believes that our Wellness Model incorporates the care our residents need in an environment that supports their preferred lifestyles By building a culture of support within the principles of wellness we try to ensure that our residents truly are at home

Community partnerships focused initiatives and committees ensures that Extendicare Athabasca is leader and current in best practice

Extendicare Real Estate Investment Trust Extendicare REIT was formed on November 10 2006 through a Plan of Arrangement the Arrangement that resulted in the businesses of Extendicare Inc Extendicare being converted to a Canadian real estate investment trust Also as part of the Arrangement Extendicares wholly owned subsidiary Assisted Living Concepts Inc which operated the majority of Extendicares assisted living facilities was distributed to Extendicares REIT unitholders with its shares symbol ALC listed on the New York Stock Exchange

Founded in 1968 Extendicare is one of North Americas largest longterm care providers with 266 senior care facilities and capacity for approximately 30000 residents Over the last 40 years Extendicare has developed a reputation for providing quality clinicallybased services in a costeffective manner The hallmarks of Extendicares philosophy are dignity and respect which guide its interactions with residents and their families as well as with staff and business partners Extendicares goal is to be the provider of choice in every community where it operates

In the United States Extendicares wholly owned subsidiary Extendicare Health Services IncEHSI operates 185 senior care facilities in the United States with approximately 18600 beds EHSI offers a continuum of health care services including nursing care assisted living and related medical specialty services such as subacute care and rehabilitative therapy on an inpatient and outpatient basis EHSI also applies its operating expertise extensive resources and economies of scale to provide purchasing management and consulting services to thirdparty providers

Also in the US Extendicares wholly owned subsidiary Virtual Care Provider Inc provides a range of information technology solutions to longterm care providers

In Canada Extendicare operates through its wholly owned subsidiary Extendicare Canada Inc ECI ECI operates 81 senior care facilities with capacity for approximately 11400 beds ECI is also a major provider of home health care in Canada through its ParaMed Home Health Care division and like EHSI provides purchasing management and consulting services to thirdparty providers

Core Values

Companies like people make choices based on values that they hold Our values guide our behaviour and in many ways determine our future

For Extendicare our values are our compass They give us direction and purpose

Thats why our commitment to our unitholders residents patients and employees remains the same today as it was yesterday And it is the same today as it will be tomorrow

We owe them unwavering dedication to the core values that have been the foundation of Extendicare for 40 years and will continue to drive its success

Success means providing quality services to residents and patients who entrust us with their health and dignity We endeavour to make each day an affirmation of life

Success means energizing employees to live our vision of excellence Good people are our greatest strength That is why we strive to create enjoyable and rewarding work environments

Success means achieving profitable growth over the long term to create value for our unitholders We are committed to communicating effectively with them

Success means embracing these values They define Extendicare

History

1968 Business incorporated with a federal charter under the name Pendexcare Ltd to operate as a supplier of longterm care services in Canada with an aim of helping to relieve an overburdened hospital system

1968 Pendexcare changes its name to Extendicare Canada Ltd near the end of the year

1969 Extendicare purchases its first nursing home in Ottawa Ontario and begins construction on four facilities in the province

1974 Extendicare Canada Ltd changes its name to Extendicare Ltd

1975 Extendicare launches ParaMed Home Health Care now one of Canadas largest home care providers

1976 Extendicare expands into the United States with the acquisition of Medco Centers Inc a nursing home operator with 25 locations in Indiana and Kentucky

1980 Extendicare expands into financial insurance and other services through the acquisition of interest in Crown Life Insurance Company

1983 Extendicare Ltd changes its name to Crownx Inc

1994 Crownx Inc embarks on a fiveyear construction program to diversify its US operations by building assisted living facilities on sites adjacent to its existing nursing facilities to create a campusstyle approach to delivering senior care Over the next five years the number of assisted living facilities in operation increases to 45

1996 Crownx Inc changes its name to Extendicare Inc

1997 Extendicare refocuses on its longterm care businesses and announces intention to sell its 322 equity interest in Crown Life entered into sale agreement in 1998 that closed in 2007 and also sells other noncore assets

1997 Extendicare acquires Arbor Health Care Company an operator of 31 nursing facilities in five US states also with an institutional pharmacy business and outpatient rehabilitation clinics in two states The pharmacy business is subsequently sold

2001 Extendicare is awarded licenses to construct 11 new facilities plus an additional five facilities through partnerships with public sector hospitals as part of a strategic decision by the Province of Ontario to significantly increase nursing home beds in the province

2005 Extendicare acquires Assisted Living Concepts Inc ALC which adds 177 assisted living facilities in the United States

2006 Extendicare completes a Plan of Arrangement the Arrangement that results in Extendicare being converted to a Canadian real estate investment trust Extendicare Real Estate Investments Trust Extendicare REIT As part of the Arrangement ALC is distributed to Extendicare REIT unitholders with its shares symbol ALC listed on the New York Stock Exchange Through its subsidiary operating entities Extendicare REIT owns and continues to operate the US and Canadian nursing home businesses a smaller number of assisted living homes and related businesses of Extendicare and holds Extendicares investment in Crown Life the sale of which had been pending since 1997

2007 In July Extendicare completes the sale of an approximate 35 equity interest in Crown Life

2007 In October Extendicare acquires Tendercare Michigan Inc and related entities adding 30 senior care facilities involving approximately 3300 beds and two development projects in the State of Michigan to its US portfolio