TORONTO — U.S. company Welltower Inc. has signed a deal to buy Amica Senior Lifestyles from Ontario Teachers' Pension Plan for $4.6 billion.
The deal includes 31 seniors residences and seven under construction.
As part of the transaction, Welltower will also acquire a minority interest in Amica's management company with the Amica management team owning the majority interest.
Welltower CEO Shankh Mitra says the deal comes against a backdrop of rapidly growing demand and limited new supply for seniors residences.
Ontario Teachers' first invested in Amica in 2010 and took the company private in a deal with management in 2015.
The deal with Welltower is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals.
This report by The Canadian Press was first published March 3, 2025.
The Canadian Press
