COVID-19 Has Exposed the Perils of ‘Financialized’ Seniors’ Care



The pandemic has highlighted worse outcomes and more deaths in for-profit care homes.

Martine August 29 Jul 2020 | The Conversation Canada
Martine August is an assistant professor in the school of planning at the University of Waterloo in Kitchener, Ont. This article originally appeared in the Conversation Canada.


A report by Canada’s military revealed horrifying conditions, short staffing and neglect.

Some family members blamed for-profit ownership, arguing that COVID-19 had simply exposed, in tragic fashion, the impact of prioritizing profits in the operation of seniors housing.

Researchers have found that for-profit facilities have lower staffing levels, lower quality of care and poorer resident outcomes in both the US and Canada.
Notably, Orchard Villa had been purchased in 2015 by private equity firm Southbridge Capital, adding it to Canada’s growing stock of “financialized” seniors’ housing — bought by financial firms as an investment product.

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