ADAM OLSEN -- Last week the BC government took control of yet another senior's home owned by Retirement Concepts -- they were forced do this because of neglect of seniors
Last week the B.C. government took control of a fourth retirement home from Retirement Concepts, British Columbia’s largest chain of for-profit care homes, citing neglect of seniors. The home in Summerland joins homes in Comox, Nanaimo and Victoria that are already under the control of BC’s health authorities. In total, 30 per cent of the long-term care beds that Retirement Concepts owns are now being run by government agents. The company is paid by taxpayers to provide care, but the health authorities are clawing back the cost of running those facilities they now control. Retirement Concepts was established in 1988 and in 2016 the federal government’s Investment Review Division accepted the foreign takeover of Retirement Concepts by Anbang Insurance Group. A few months after the purchase, the chairman of Anbang was jailed for fraud by Chinese authorities and the company was put under the control of China’s insurance regulator. The Chinese government then ...