Competition Bureau reaches agreement with Welltower to further protect competition in retirement home industry

The agreement signed with Welltower follows a recent agreement concluded with Chartwell

GATINEAU, QC, March 25, 2026 /CNW/ - The Competition Bureau has reached a consent agreement with Welltower OP LLC (Welltower) to address competition concerns related to its proposed acquisition of 34 retirement home properties from Amica Senior Lifestyles (Amica). It is the second such agreement this month following an agreement concluded with Chartwell.

A Bureau review concluded that the proposed transaction would likely result in a substantial lessening of competition in accommodation and health care services provided by licensed private pay retirement homes in areas of British Columbia and Ontario.

To resolve the Bureau's concerns, Welltower has agreed to sell four retirement homes from its existing portfolio located in Victoria, Northwest Vancouver, Brampton and Ottawa. The sales will be made to independent purchasers to be approved by the Commissioner of Competition.

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

Benefits of competition in the retirement home industry
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.

Quick facts

• The Bureau also recently announced an agreement with Chartwell to protect competition in the retirement home market in the Kitchener-Waterloo, Ontario area.
• Welltower is a US-based real estate investment trust that owns interests in retirement home properties in the United States, Canada and the United Kingdom. They own 139 retirement home properties in Canada.
• Amica is a Canadian-based company that develops, owns, and manages retirement home properties in Ontario and British Columbia.
• 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
• Competition Bureau reaches agreement with Chartwell to preserve competition in retirement home industry

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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]