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Sienna Senior Living closes C$16.5M home care biz sale

Sienna SeniorLiving Inc. completed the divestmentof its home care business, Preferred Health Care Services, to Spectrum HealthCare LP.

The company said the sale generated C$16.5 million in cashproceeds, before working capital adjustments.

"The disposition of the home care business isconsistent with Sienna's strategy and focus on growing our core business ofhigh-quality retirement living and long-term care portfolio assets in Canada,"Sienna President and CEO Lois Cormack said in a release.