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

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

In May, Orchard Villa, a long-term care home in Pickering, Ont., made headlines for a bad COVID-19 outbreak. Just two months into Ontario’s lockdown, 77 patients in the 233-bed home had died. 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.

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.

To access the article, please click on: COVID-19 Has Exposed the Perils of ‘Financialized’ Seniors’ Care

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