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Canadian care-home provider Revera to 'transition out' of managing retirement homes



OTTAWA —Revera, a prominent Canadian long-term care operator, has announced its intention to undergo a strategic transition away from the operational management of retirement homes across the nation. This decision marks a significant shift in focus for the company, as it seeks to emphasize ownership of senior living real estate while entrusting the management of retirement residences to other Canadian firms.


The move was communicated to Revera's employees through an official notice to union representatives on August 2. Under this transition, several Canadian companies will assume the management of various Revera retirement homes. Over 80 senior residences are expected to be part of this transfer, with the majority located in Ontario. The remaining facilities are spread across provinces including Manitoba, Saskatchewan, Alberta, and British Columbia. Notable cities affected by this transition include Edmonton, Calgary, Regina, Saskatoon, Winnipeg, Vancouver, Victoria, Toronto, and Ottawa.


These changes are anticipated to take effect in the coming months, subject to customary regulatory approvals and due diligence reviews from health authorities. While Revera will continue to own a selection of retirement properties, the operational management of these homes will be relinquished to other capable entities. It is important to note that this transition will not impact staffing levels at individual sites, ensuring continuity of care for residents.


Diverse Canadian companies have been selected to oversee the management of these retirement homes. Among them, Montreal-based Cogir will take charge of managing over 60 Revera properties. Optima Living and Levante Living are entrusted with the responsibility of managing homes in Alberta, British Columbia, and Ontario. The services provided in these retirement homes encompass a range of care options, catering to independent living, assisted living, and memory care for those with dementia.


The decision to refocus Revera's business model comes in the wake of the evolving landscape of long-term care in Canada, accentuated by the challenges posed by the COVID-19 pandemic. Revera has been in the spotlight due to COVID-19 outbreaks in their former long-term care homes. A previous agreement with Extendicare in 2022 saw operations at 56 of Revera's long-term care homes transferred to Extendicare, raising concerns about the welfare of employees and residents in these facilities.


Tamara Daly, a professor specializing in health policy and equity, has highlighted the ongoing issue of access to publicly funded care for senior citizens in Canada. Despite the impact of the pandemic, the eldercare sector continues to be driven by profit motives. As the long-term care crisis gains attention due to COVID-19 challenges, there is a growing movement to enhance the availability of care for seniors in the comfort of their own homes.


The transition announced by Revera is poised to reshape the landscape of retirement home management in Canada. As the company shifts its focus to real estate ownership, its legacy in the realm of long-term care will undoubtedly impact the lives of countless seniors across the nation.


 

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