Long-term-care provider Extendicare Health Services, Milwaukee, said net earnings rose 30% to $12.1 million in the first quarter ended March 31, from $9.3 million in the year-ago quarter, boosted by the Jan. 31 acquisition of Assisted Living Concepts. Extendicare, the U.S. subsidiary of a Canadian company, did not provide earnings per share. Revenue rose 27.6% to $286 million. Assisted Living Concepts added $29.1 million in revenue and $5.4 million in earnings during the last two months of the quarter. Extendicare owns or operates 440 nursing homes and assisted-living facilities in North America. -- by Joseph Mantone
Extendicare profits up after assisted-living purchase
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