Optima Living Partners with Seniors' Housing Owner Welltower to Manage Seniors' Residences in Western Canada

EDMONTON, ALBERTA / ACCESSWIRE / August 22, 2023 – Optima Living (“Optima” or “Optima Living”) is pleased to announce a strategic partnership with Welltower (NYSE: WELL), a $43 Billion S&P 500 company listed on the NYSE. Welltower invests with leading seniors housing operators to fund the real estate infrastructure needed to scale innovative care delivery models.

After careful due diligence, Welltower has selected Optima Living as its partner of choice to manage six seniors communities located in Red Deer and Medicine Hat, Alberta, and Victoria, British Columbia. These communities offer upscale seniors living and private long-term care services.

The partnership strengthens the private pay space in seniors housing in Western Canada, where Optima Living achieved over 90% occupancy rates at its seniors communities during the pandemic.

“This is a tremendous growth opportunity for Optima Living, and we appreciate Welltower’s trust in our ability to provide best-in-class seniors care,” said Co-Founder and Principal of Optima Living, Karim Kassam. “We look forward to welcoming the residents and employees of these six communities who will soon be joining the Optima family.”

“Welltower is excited to partner with a premier operator of seniors residences in Western Canada,” said Edward Cheung, Senior Vice President – International Investments of Welltower. “We were looking for a regional partner that had the capacity and expertise to manage our assets and we are confident in our choice of Optima Living. We look forward to further growth together in the future.”

The transfer of management to Optima Living is anticipated to take place on October 1, 2023, subject to regulatory approval.

About Optima Living

Canadian owned and operated in Western Canada, Optima Living strives to deliver high service standards and adapt to resident needs. Optima offers a range of senior living options through its portfolio of 33 assets (3,400+ beds), including Independent Living, Assisted Living, Supportive Living, Long-Term Care, and Memory Care. With over 2,000 employees in Alberta and British Columbia caring for over 4,000 residents, Optima's dedication to building partnerships and integrating communities remains guided by our North Star – Let us welcome you home. Learn more at OptimaLiving.ca.

About Welltower

Welltower® Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure.  The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.  Welltower, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties.  More information is available at www.welltower.com.

Alyssa Barry
Media Relations
[email protected]