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BCHC makes submission on risky seniors care bid

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.