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Canada's publicly funded care-services sector is deep into a consolidation cycle, and against that backdrop Extendicare Inc. (TSX: EXE) posted its sharpest year-over-year revenue gain in recent memory.
Second-quarter revenue reached C$611 million, up 59.4%, while adjusted EBITDA rose 71% to C$68.3 million, as three completed acquisitions contributed for the first full quarter simultaneously.
Three acquisitions, one quarter President and CEO Michael Guerriere said the results reflect execution of the company's acquisition strategy over the past 18 months.
The C$570 million purchase of CBI Home Health, which closed April 1, contributed C$145.7 million of revenue and C$18.5 million of adjusted EBITDA during the quarter.
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