QUICK FACTS

Company:                 Golden Health Care Inc.

Type:                          Growth Capital and Divestiture

Value:                        $35M growth capital investment

Industry:                   Healthcare and real estate

ABOUT THE DEAL

Golden Health Care is a private provider of long-term care homes, operating without government funding. Golden Health Care manages several homes across Saskatchewan, with facilities in Prince Albert, Weyburn, Estevan, and North Battleford, which were all financed or acquired prior to the involvement of the current team. Additionally, land had been purchased in Yorkton before their tenure.

The team contributed to the financing of the facility in Swift Current, supported the acquisition of a property in Saskatoon (which was later divested after a strategic decision to sell), and facilitated the construction of a new facility in Warman. A key innovation was the design of homes that incorporated smaller, more intimate common areas within wings, avoiding the institutional feel of a large “mess hall.” Each wing featured unique interior designs and included elements to accommodate individuals with dementia. These innovations were largely driven by a highly skilled CEO with both a nursing degree and an MBA, whose leadership and vision were instrumental to the success of the projects.

The team secured construction financing alongside equity contributions, overseeing the project management of the Swift Current facility and utilizing a design-build contract for Warman.

Notable transactions included:

• $25 million in equity and debt financing for a 100-room facility in Warman.
• $10.5 million financing for a 72-room facility in Swift Current.
• The acquisition and subsequent divestiture of an operational facility in Saskatoon.
• Strategic capital planning and analysis that led to the sale of land in Yorkton, capturing price appreciation rather than proceeding with a development forecasted to face vacancy challenges.

Throughout this period, the team also served on the Board, providing oversight and strategic guidance for these initiatives.