Competition Bureau Reaches Agreement with Welltower to Protect Competition in Retirement Home Industry

The Canadian Competition Bureau has reached an agreement with Welltower to address competition concerns related to its acquisition of 34 retirement home properties from Amica Senior Lifestyles. The Bureau reviewed the proposed transaction and concluded it would likely result in a substantial lessening of competition in British Columbia and Ontario. Welltower has agreed to sell four retirement homes to independent purchasers to resolve the concerns, maintaining competition in the retirement home industry.