Two years after COVID-19 ravaged long-term-care homes, for-profit operators like Extendicare and Sienna are raking in millions in earnings.
The sale, worth $307.5 million, helped boost Extendicare’s net earnings for the quarter to $71.4 million, up from $960,000 last year, according to Extendicare’s latest report, released Tuesday. With the transaction completed, Extendicare will focus on its long-term-care and home-health-care sectors. The operator has three long-term-care homes under construction in Sudbury, Kingston and Stittsville.“The situation in health care is particularly challenging, most notably in our home-health-care segment where we have not been able to find sufficient caregivers to meet the strong and increasing demand for care,” said president and CEO Dr. Michael Guerriere.
The company also plans to purchase the Woods Park Care Centre in Barrie and enter into a joint venture to acquire The Village at Stonebridge in Saskatoon, Sask.
Direct by waqt
Yeah, like Trudeau and the carbon tax
gee thanks for the information 2 months post election, remember you endorsed Ford
Lefties don't like anyone making a profit.
When will ppl of, well the world, realize that Neo Liberal Capital(ism) now ruling the world, literally everywhere, is the culprit of all the ills we have in societies. Their key goal; maximize profit for owners at any cons. That means if workers are starving on wages they pay OK
As a shareholder of extendicsre I hope they making millions more Good luck !!!
All for profit LTC companies have record profits because they don't pay their employees fair wages! Maybe if they would give RNs, RPNs, PSWs, dietary, programs staff all a couple more $ an hour to show their appreciation, instead of lining their own pockets!
Never forget