Extendicare Provides Update on Strategic Review
27 Décembre 2013 - 11:00PM
Marketwired
Extendicare Provides Update on Strategic Review
MARKHAM, ONTARIO--(Marketwired - Dec 27, 2013) - Extendicare
Inc. ("Extendicare" or the "Company") (TSX:EXE) today announced
that the review of strategic alternatives by its board of directors
(the "Board") will continue into the first quarter of 2014. An
announcement of the outcome of the process will be made as soon as
the Board approves a transaction or other alternative, or otherwise
determines that disclosure is appropriate.
As previously announced in May 2013, the Board appointed a
strategic committee of the Board (the "Strategic Committee") to
review strategic alternatives relating to the separation of
Extendicare's Canadian and U.S. businesses. With the assistance of
CitiGroup Global Markets Inc. as a financial advisor, the Strategic
Committee has been evaluating various alternatives relating to the
realignment of Extendicare's businesses and has made considerable
progress in its review. The Board will adopt the transaction or
structure that it concludes would be in the best interests of the
Company and its shareholders. No assurance can be given that the
process will result in the completion of a transaction or other
alternative or the timing or its terms.
ABOUT US
Extendicare is a leading North American provider of post-acute
and long-term senior care services. Through our network of owned
and operated health care centers, our qualified and experienced
workforce of 35,500 individuals is dedicated to helping people live
better through a commitment to quality service that includes
skilled nursing care, rehabilitative therapies and home health care
services. Our 245 senior care centers in North America have
capacity to care for approximately 27,000 residents.
Forward-looking Statements
Information provided by Extendicare from time to time,
including this release, contains or may contain forward-looking
statements concerning anticipated financial events, results,
circumstances, economic performance or expectations with respect to
Extendicare and its subsidiaries, including, without limitation,
statements regarding its business operations, business strategy,
and financial condition. Forward-looking statements can be
identified because they generally contain the words "expect",
"intend", "anticipate", "believe", "estimate", "project", "plan" or
"objective" or other similar expressions or the negative thereof.
Forward-looking statements reflect management's beliefs and
assumptions and are based on information currently available, and
Extendicare assumes no obligation to update or revise any
forward-looking statement, except as required by applicable
securities laws. These statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or
achievements of Extendicare to differ materially from those
expressed or implied in the statements. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on
Extendicare's forward-looking statements. Further information can
be found in the disclosure documents filed by Extendicare with the
securities regulatory authorities, available at www.sedar.com and
on Extendicare's website at www.extendicare.com.
Extendicare Inc.Jillian FountainCorporate Secretary(905)
470-5534(905) 470-4003jfountain@extendicare.comVisit Extendicare's
Website at www.extendicare.com
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