AgeCare Health Services and Axium Infrastructure to acquire 16 Ontario Long Term Care homes from Chartwell Retirement Residences for $446.5m. “Chartwell’s experienced and dedicated Ontario long term care team has a long and successful history of delivering quality care to our residents, as evidenced by quality indicators consistently exceeding provincial averages, and a culture of continuous improvements through innovative programs like ‘Imagine’. Substantial growth in our retirement portfolio over the years resulted in our Ontario long term care operations comprising less than 10% of our business. As we made the strategic decision to focus on our growing retirement business, it was critical for us to partner with strong and reputable organizations which hold similar values, to ensure a smooth transition for our residents and employees. I am confident that AgeCare and Axium are exactly the right partners to continue the legacy of Chartwell’s Ontario long term care operations. I am glad that our long term care team will be joining AgeCare, an organization dedicated to the senior care sector since 1998. We are committed to working closely with AgeCare, Axium, and all our stakeholders to ensure a smooth and successful transition,” Vlad Volodarski, Chartwell Chief Executive Officer.