Revera Inc. sells interest in certain long-term care homes to AgeCare

Goodmans LLP acted for Revera Inc. with respect to its sale of its 15% ownership interest in certain long-term care homes in Alberta and British Columbia to AgeCare, which will own the homes in a joint venture with Axium Infrastructure Inc., Revera’s current joint venture partner.

The transaction marked the first stage of the exit of Revera from its long time investment in operating and owning long-term care homes.  While Revera is stepping away from day-to-day operations, the company will continue to advocate for, and use its sector-leading, in-house development capabilities to accelerate, the urgently needed redevelopment of aging long-term care homes.