Abacus acquires Country Terrace long term care home



    TORONTO, Feb. 21 /CNW/ - Abacus Seniors Living is pleased to announce the
acquisition of Country Terrace, a 120 bed long term care home located in
Komoka, Ontario. The home is located on the outskirts of London, Ontario in a
peaceful rural setting with the convenience of a large urban area. Demand for
long term care services in London and Middlesex County is exceptionally
strong, with occupancies exceeding 99% for all homes in the area.
    "Due to the dedication of its staff and its excellent location in a high
demand market area, this home is a great complement to our existing
portfolio," said Michael Chandler, Director of Abacus Seniors Living. "We look
forward to continuing to provide the highest quality of care and comfort to
the residents. We will continue to pursue acquisitions of quality, long term
care homes in Canada that build on our existing portfolio and lend themselves
to the OMNIway of quality health care."
    Advisory and consulting services will be provided by Omni Health Care
Ltd, the current advisors to Omni Healthcare Limited Partnership which owns 16
long term care homes in the Province of Ontario.

    About Abacus Seniors Living

    Abacus Seniors Living was created to acquire and operate seniors housing
in Canada and the United States. To date it has completed acquisitions in
Ontario and Quebec representing over 1,600 beds. Abacus Seniors Living is
comprised of a highly regarded and experienced team of professionals that have
developed a network of industry experts and an in-depth understanding of the
economic drivers, inherent risks, and opportunities for growth and improvement
in the nursing and retirement home industry.

    About Omni Health Care Ltd.

    Omni Health Care Ltd. has been a proud provider of long term care
services for over thirty years. Through its exclusive relationship with Abacus
Seniors Living, Omni looks forward to expanding its mission and to continuing
to make a positive difference in all aspects of long term care through the
OMNIway. Omni's Mission is to experience Hope, Purpose and Belonging in health
care by celebrating the lives, contributions, love and joy of people in a
welcoming, nurturing and fun environment. Visit www.omni-way.com for more
information.

    About Abacus Private Equity

    Abacus Private Equity Group is an independent, entrepreneurial investment
firm that has been acquiring Canadian and international corporations and
partnerships since 1996. Since 2005 Abacus has acquired more than $1.5 billion
in assets through its affiliated divisions. Abacus possesses depth of
knowledge, expertise in diverse industries and substantial resources for new
opportunities and is committed to making equity investments for long-term
value appreciation. Visit www.AbacusPE.com for more information.





For further information:

For further information: Michael Chandler, T: (416) 214-3342, Email:
mchandler@abacusseniorsliving.com, Web: www.AbacusPE.com

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ABACUS SENIORS LIVING

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