Foreign buyout raises concern for senior home care

By Vanessa Ybarra
February 24, 2017 - 4:46pm Updated: February 24, 2017 - 6:12pm

KAMLOOPS — Retirement Concepts takeover by a foreign investment firm has raised concerns over quality of care for B.C seniors.

The company operates Williams Lake and Kamloops Seniors Village.

Earlier this week, the Federal Government approved the sale of retirement concepts to the Chinese investment company Anbang.

In the House of Commons, Conservative MP Cathy McLeod recently questioned the reasons for the purchase and its effect on senior care.

"This transaction is clearly not about charity as it is about profit," said McLeod.

"I don't think profit is a bad word but I think in terms of Canada and the delivery of health care services, we need to think very carefully about this," added McLeod. "Do we want the strings from Beijing pulling decisions about some of our health care facilities in Canada?"

According to B.C's Health Minister, Retirement Concept services and quality of care will continue to be overseen by the province after the sale is completed.

"Our legislation protects the care and quality of care in our residential care facilities that are paid for publically through the health authorities," said Health Minister Terry Lake. "Homes can be inspected at any time if there's any suspicions."

In an email to CFJC Friday, Retirement Concepts says the company will operate with its existing staff and will continue to provide the highest quality of care throughout its 24 homes.

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