GATINEAU (Québec), Competition Bureau
The Competition Bureau has reached a consent agreement with Chartwell Master Care LP (Chartwell) to address competition concerns related to its proposed acquisition of six retirement homes from Sifton Properties Limited (Sifton).
A Bureau review concluded that the proposed transaction would likely result in a substantial lessening of competition in health care services and accommodations provided by licensed retirement homes in the Kitchener-Waterloo, Ontario area.
As the Canadian population ages, the retirement home industry becomes even more important, with demand expected to accelerate rapidly over the next decade. Competition in the retirement home sector plays a crucial role in keeping prices in check and pushing providers to maintain high standards of care and modern, well-maintained facilities.
To resolve the Bureau's concerns, Chartwell has agreed to sell its Clair Hills retirement home located in Waterloo, Ontario. The sale will be made to an independent purchaser to be approved by the Commissioner of Competition.
The Bureau is satisfied that the sale will resolve the competition concerns that could result from the proposed transaction.
