BCHC is urging the federal government to reject the proposed acquisition of B.C.-based Retirement Concepts by a large offshore corporation, Anbang Insurance Group.
After raising concerns publicly about the secretive deal that would entrench a foreign private equity firm's high-risk profit-making model into Canada's health care system, the coalition made a written submission to Hon. Navdeep Singh Bains, Minister of Innovation, Science and Economic Development.
Read the full submission here.
The submission outlines six key problems with the proposed takeover:
- Seniors' care is a vulnerable sector and should not be mixed with high-risk business
- Loss of democratic control over seniors' care
- Foreign investor rights and loss of democratic domestic control over seniors' care policy
- Introducing global financial risk to the B.C. and Canadian health care system
- Undermining conditions of seniors' care
- Opening the door to increased health care privatization
Minister Bains has not yet announced a decision on the bid.
Please phone or email your Member of Parliament now to share your concerns about this risky deal.