Today Southbridge Health Care LP, together with the Southbridge Health Care Fund, completed its latest acquisition with the purchase of Country Village Health Care Centre in Woodslee, Ontario. Country Village Health Care Centre is one of the first homes in Ontario to be redeveloped under the Ministry of Health and Long-Term Care’s Long-Term Care Home Renewal Strategy. It is the first multi-phase project to be developed in partnership with Kanata Living Inc. to the Country Village HomesTM concept and was completed on schedule and on budget.
This acquisition brings the total number of long-term care homes owned by the Southbridge Health Care LP to nine (9) with 698 beds in total. Southbridge Health Care LP is managed by Southbridge Health Care GP Inc., a wholly owned subsidiary of Southbridge Capital Inc.
Michael Petersen, President of Southbridge Capital Inc., said of the acquisition, “Our vision has always been to develop long-term care home environments in Ontario that are fully engaged within caring communities under our Country Village Homes banner. With the completion of this project, we are demonstrating our commitment to achieving this vision. ”
Southbridge Health Care LP has another ten (10) acquisitions with a total of 1,414 beds presently under negotiation. Three of these acquisitions are expected to close by the end 2013 with the remainder closing by mid-2014.
Units in the Southbridge Health Care Fund are distributed to accredited investors across Canada through Yorkville Asset Management, a discretionary wealth management practice located in Toronto, ON.