Skip to main content

Corporate takeover of hospital comes our way

After the announcement by the Liberal govenrment that they would spin work off from hospitals to private clinics, Centric, a corporation with other private facilities in Canada, has now moved in with plans to buy the Shouldice Hospital in Toronto. Shouldice is an 89 bed, five operating room hospital in Toronto with a staff of 160.  The sale price is $14,250,000.
Shouldice Hospital
The largest shareholder of Centric is Global Healthcare Investments & Solutions, Inc., based in the USA.   Global Healthcare's CEO formerly led one of the world's largest healthcare corporations outside the USA, Netcare.

The Liberal government had said they would turn work over to not-for-profit clinics only. Centric however is a for-profit corporation listed on the Toronto Stock Exchange.  

The takeover is still subject to government approvals. Centric notes that if all closing conditions are satisfied, closing is expected on or before October 15, 2012. A Shouldice insider reports that the government has as been kept informed of negotiations and appears likely to give the green light.

If it does go through, this will be the first corporate takeover of a hospital in Ontario.  

Shouldice Hospital is a private hospital established in 1945 by Dr. Edward Shouldice in Toronto and the hospital has been family-owned ever since.

Shouldice is unusual as it was grandparented as a private hospital under Ontario’s Private Hospitals Act in 1973 as Ontario moved to public medicine. Only one other private hospital was grandparented at that time and it has since closed. 


The Shouldice performs routine hernia operations.

Comments

Popular posts from this blog

Health care funding falls, again

Real provincial government health care funding per-person has fallen again this year in Ontario, the third year in a row.  Since 2009 real funding per-person has fallen 2.6% -- $63 per person. 

Across Canada real per person funding is in its fourth consecutive year of increase. Since 2009, real provincial funding across Canada is up $89 -- 3.6%.
In fact the funding gap between Ontario and Canada as a whole has gown consistently for years (as set out below in current dollars).

Ontario funds health care less than any other province -- indeed, the province that funds health care the second least (B.C.) provides $185 more per person per year, 4.7% more.  
Provincial health care spending in the rest of Canada (excluding Ontario) is now  $574 higher per person annually than in Ontario. 

 Ontario has not always provided lower than average health care funding increases-- but that has been the general pattern since 2005.
Private expenditures on health care have exceeded Ontario government increases …

Ontario long-term care staffing falls far short of other provinces

CUPE and others are campaigning for a legislated minimum average of four worked hours of nursing and personal care per resident per day in long-term care (LTC) facilities.  New research indicates that not only is LTC underfunded in Ontario, it is also understaffed compared to the other provinces. 
LTC staffing falls short:  The latest data published by the Canadian Institute for Health Information (and based on a mandatory survey undertaken by Statistics Canada) indicates that staffing at long-term care (LTC) facilities falls far short of other provinces. 
Part of this is driven by a low level of provincial funding for LTC.





Ontario has 0.575 health care full-time equivalent employees (FTEs) per bed staffed and in operation.[1]  The rest of Canada reports 0.665 health care FTEs.[2] The rest of Canada has 15.7% more health care staff per bed staffed and in operation than Ontario.[3] 


No other province reports fewer LTC health care staff per resident (or per bed) than Ontario.[4]

Occupancy r…

More spending on new hospitals and new beds? Nope

Hospital funding:  There is something off about the provincial government's Budget claims on hospital capital funding (funding to build and renovate hospital beds and facilities).   

For what it is worth (which is not that much, given the long time frame the government cites), the province claims it will increase hospital capital spending over the next 10 years from $11 billion to $20 billion – or on average to about $2 billion per year.  But, this is just a notional increase from the previous announcement of future hospital capital spending. 

Moreover, even if we did take this as a serious promise and not just a wisp of smoke, the government's own reports shows they have actually funded hospital infrastructure about $3 billion a year over the 2011/12-2015/16 period.

So this “increase” is really a decrease from past actual spending. Even last year's (2016-17) hospital capital funding increase was reported in this Budget at $2.3 billion - i.e. about 15% more than they have ann…