Sienna Senior Living Inc. announced a $175 million offering of Series E senior unsecured debentures alongside the completion of a $60.2 million acquisition of Credit River Retirement Residence, positioned to enhance growth and profitability in the expanding seniors' living sector in Ontario.

Target Information

Sienna Senior Living Inc., publicly traded on the TSX under the symbol SIA, is a leading provider of seniors’ living solutions in Canada. With a total of approximately 14,500 employees, the company offers diverse services including independent living, assisted living, memory care through its Aspira brand, long-term care, and specialized programs. Sienna focuses on enhancing the quality of life for seniors through a range of tailored living options.

Recently, Sienna has successfully completed the acquisition of Credit River Retirement Residence, a notable 133-suite retirement residence located in Streetsville, Ontario, part of the Greater Toronto Area (GTA). This strategic acquisition demonstrates Sienna's commitment to expanding its footprint in the growing seniors' living sector.

Industry Overview

The Canadian seniors' living sector is characterized by a rapidly aging population and a significant demand for aging-related services. With projections indicating that the proportion of seniors (aged 65 and older) in Canada will c