Competition Bureau reaches agreement with Chartwell to preserve competition in retirement home industry

Competition in the retirement home industry is crucial to keeping prices in check

GATINEAU, QC, March 12, 2026 /CNW/ - The Competition Bureau has reached a consent agreement with Chartwell Master Care LP (Chartwell) to address competition concerns related to its proposed acquisition of six retirement homes from Sifton Properties Limited (Sifton).

A Bureau review concluded that the proposed transaction would likely result in a substantial lessening of competition in health care services and accommodations provided by licensed retirement homes in the Kitchener-Waterloo, Ontario area.

As the Canadian population ages, the retirement home industry becomes even more important, with demand expected to accelerate rapidly over the next decade. Competition in the retirement home sector plays a crucial role in keeping prices in check and pushing providers to maintain high standards of care and modern, well-maintained facilities.

To resolve the Bureau's concerns, Chartwell has agreed to sell its Clair Hills retirement home located in Waterloo, Ontario. The sale will be made to an independent purchaser to be approved by the Commissioner of Competition.

The Bureau is satisfied that the sale will resolve the competition concerns that could result from the proposed transaction.

Quick facts

• Chartwell is one of the largest owners and operators of retirement properties in Canada with properties in British Columbia, Alberta, Ontario and Quebec.
• Sifton is a property developer whose portfolio includes retirement properties, residential rental properties and residential neighbourhoods.
• Retirement homes provide housing accommodations and health care services to older adults.
• A consent agreement contains remedial measures meant to address the likely anti-competitive effects of a merger. It has the force and effect of a court order once it is registered with the Competition Tribunal.

Associated links

• Overview of the merger review process

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

SOURCE Competition Bureau

Contacts: Media inquiries: Media Relations, Email: [email protected]