Company type | Public |
---|---|
TSX: EXE | |
Industry | Seniors' housing |
Founded | 1968 |
Headquarters | , Canada |
Number of locations | Alberta, Ontario, Saskatchewan |
Key people | Michael Guerriere (CEO) |
Revenue | CA$1,155.3 million (2020) [1] |
Number of employees | 23,000 (2018) |
Website | extendicare.com |
Extendicare Inc. is a Canadian for-profit long-term care (LTC) provider that offers housing, care and related services to seniors. It operates over 100 care facilities and is based in Markham, Ontario. The company operates retirement residences and long-term care facilities under the Extendicare, Esprit Lifestyle and ParaMed brands, with 23,000 employees. [2]
In 2006, the company became a real estate investment trust (REIT) and began trading on the Toronto Stock Exchange (TSX) under the symbol EXE.UN on November 10, 2006. [3] In 2012, the company completed its conversion from an income trust structure named Extendicare Real Estate Investment Trust to a corporate structure named Extendicare Inc. [4]
Extendicare owns and operates dozens of long-term care and retirement facilities, with the majority in Ontario and 11% in Alberta. The company has a number of significant subsidiaries and divisions, including ParaMed, Esprit Lifestyle Communities, Extendicare Assist, and its Purchasing Partner Network division, SGP.
From January to September 2020, Extendicare paid out about CA$29 million to shareholders. During the same period, Extendicare's ParaMed division received CA$82.2 million from the Canada Emergency Wage Subsidy (CEWS). [5] The company said that government funds went to LTC workers directly, not towards dividends.
Michael Guerriere has been the President and CEO of Extendicare since 2018. Prior to that, Guerriere was CMO and VP at TELUS Health from 2002 to 2018, and with Courtyard Group, which was acquired by TELUS Health in 2002. Others in leadership roles (according to the 2020 annual report) include CFO and VP David E. Bacon, VP Victor Rocca, CFO HRO Leslie Sarauer, VP John Toffoletto, Bruce Wienberg, and CMO Matthew Morgan. [6] Other board members include Alan D. Torrie, Norma Beauchamp, Sandra L. Hanington, Alan R. Hibben, Brent Houlden, Donna E. Kingelin, Samir Manji, and Al Mawani. [7]
According to its 2020 Annual Report, the company earned a total of CA$1,155.3 million in revenue in 2020. [1] Its segments include long-term care—which generated a revenue of CA$715.6 million, [1] retirement living, home health care, "contract services, consulting and group purchasing", and corporate activities, among others. [6] : 44
In Canada, the company has significant subsidiaries, including Extendicare Inc., ParaMed Inc., Harvest Retirement Community Inc., Stonebridge Crossing Retirement Community Inc., Empire Crossing Retirement Community Inc., Yorkton Crossing Retirement Community Inc., West Park Crossing Retirement Community Inc., Bolton Mills Retirement Community Inc., Douglas Crossing Retirement Community Inc., Lynde Creek Manor Retirement Community Inc., 9994165 Canada Inc., Riverbend Crossing Retirement Community Inc., and Cedar Crossing Retirement Community Inc. [6] : 45 It also has a significant subsidiary in Bermuda, the Laurier Indemnity Company, Ltd. [6] : 45
By 2020, most of Extendicare's LTC and retirement facilities were in two provinces – about 77% in Ontario and 11% in Alberta. [6] : 7 In 2020, Extendicare owned and operated 58 LTC facilities, and Esprit Lifestyle Communities owned and operated 11 retirement living facilities. [6] : 7 Through the Extendicare Assist division, the company also provided 52 facilities with contract services. [6] : 7 The Purchasing Partner Network division—SGP—contracts purchases of "food, capital equipment, furnishings, cleaning and nursing supplies, and office products". [6] : 7
The company had "no plan to deal with" the coronavirus and in the early days of the COVID-19 pandemic in Canada, 80 people in the care of Extendicare died "after contracting COVID-19". [8] The company spent CA$300,000 of its "own money on COVID-19, while distributing over $10,000,000 to shareholders during the pandemic", according to its May 28, 2020 Annual General Meeting. [8]
During the pandemic—from January to September 30, 2020—revenues from the company's long-term-care facilities rose to CA$523.4 million, compared to CA$477.1 million in the same period in 2019. [9]
By December 2020, 38 residents with COVID-19 had died in Parkside Extendicare in Regina, Saskatchewan. [10] The outbreak was declared on November 20, 2020, and two weeks later, there were 50 residents that had tested positive for COVID-19. By March 21, it was confirmed by Saskatchewan Health Authority (SHA) that 41 people had died at Extendicare Parkside from the virus and over 200 residents and staff tested had positive for COVID-19 during the outbreak. [11] In response to the second wave Extendicare Parkside outbreak, the Provincial Ombudsman began an investigation at the request of the Government of Saskatchewan. [11] On December 9, SHA into a co-management agreement with Parkside Extendicare which lasted into 2021. [11]
By March 2020, families of those who died in Extendicare facilities in Saskatchewan, represented by Regina-based lawyer Tony Merchant, prepared to file a class-action lawsuit for substandard care in Extendicare's long-term care facilities. [12] According to Merchant, of the 117 people who died from COVID-19 in the province's care homes from the beginning of the outbreak to the middle of March 2020, 35% were in Extendicare facilities when they died. [12] On October 12th, 2022, the Saskatchewan Health Authority and the ECI group formally agreed that the SHA would assume responsibility for five Saskatchewan based Long Term Care Extendicare facilities. Details of the agreement include the transition of nearly 1,300 Extendicare staff to the SHA and the purchase of all five properties (one in Saskatoon, one in Moose Jaw and three in Regina). [13]
The Ontario Ministry of LTC provided COVID funding of CA$398.0 million, "which included $268.0 million in funding for COVID prevention and containment efforts". According to their 2020 annual report, they received CA$6.6 million in the spring of 2021 for the FY 2020. [6] : 45
According to a Toronto Star analysis of Extendicare's 2020 financial statements, in the first 3 quarters ending in September 2020, this for-profit company paid out nearly CA$29 million to shareholders in dividends at the same time that ParaMed received CA$82.2 million in federal wage subsidies through the program for front-line workers, the Canada Emergency Wage Subsidy (CEWS). [5] The Star investigation included the three major for-profit LTC providers, Sienna Senior Living, Chartwell Retirement Residences, as well as Extendicare. The companies said that the CEWS grants went directly to their frontline workers and were not to pay dividends.
There have been several COVID-related lawsuits filed against Extendicare facilities.
These lawsuits include an October 2020 CA$600,000 class action lawsuit with multiple defendants against multiple homes and levels of government, a second CA$210 class action lawsuit alleging "gross negligence" filed in October 2020, regarding one of Extendicare's LTC facilities—later amended to include claims against 35 Extendicare's operations.
In November 2020, the Ontario government, under Premier Doug Ford passed Bill 218, Supporting Ontario's Recovery Act—retroactive to March 17, 2020—which provides some liability protections to individuals, corporations, or other entities, including LTC corporations, against COVID-19-related legal claims that limit claimants ability to win a lawsuit "except in certain circumstances". [14] Claimants must prove that an individual, corporation, or other entity acted in "gross negligence", not in a "good faith" or "honest" effort to comply with public health guidance and laws relating to COVID-19.
Kindred Healthcare was a post-acute healthcare services company that operated long-term acute-care hospitals and provides rehabilitation services across the United States.
Saskatchewan Telecommunications Holding Corporation, operating as SaskTel, is a Canadian crown-owned telecommunications firm based in the province of Saskatchewan. Owned by the provincial government, it provides wireline and wireless communications services, including landline telephone, mobile networks, broadband internet, IPTV, and security services. Through a subsidiary, SaskTel International, the company has also worked on telecom infrastructure projects in countries such as Argentina and the Bahamas, as well as being the lead implementation company for the communication and control systems of the Channel Tunnel between England and France.
The Saskatchewan Junior Hockey League is a Junior 'A' ice hockey league operating in the Canadian province of Saskatchewan and one of nine member leagues of the Canadian Junior Hockey League.
Long-term care (LTC) is a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods. Long-term care is focused on individualized and coordinated services that promote independence, maximize patients' quality of life, and meet patients' needs over a period of time.
Chartwell Retirement Residences is the largest provider of seniors' housing in Canada, serving over 25,000 residents across Quebec, Ontario, Alberta, and British Columbia. Chartwell offers a range of seniors housing communities, from independent living to assisted living.
Revera Inc. was a Canadian company that provided accommodation, care and services for seniors. It owned and operated retirement residences and long-term care facilities. Formerly named Retirement Residences Real Estate Investment Trust, it used to be a real estate investment trust (REIT) that was publicly traded on the Toronto Stock Exchange (TSX), but it was acquired by the Public Sector Pension Investment Board in 2007. Its CEO is Thomas G. Wellner and was formerly Jeffrey Lozon.
Scott Moe is a Canadian politician serving as the 15th and current premier of Saskatchewan since February 2, 2018. He is a member of the Legislative Assembly of Saskatchewan for the riding of Rosthern-Shellbrook, first elected in 2011. He served in the Saskatchewan Party cabinet from 2014 to 2017 under the premiership of Brad Wall, twice as minister of environment and also as minister of advanced education. In January 2018 he was chosen to succeed Wall as leader of the Saskatchewan Party. He led the party to a fourth consecutive majority mandate in the 2020 provincial election.
Sienna Senior Living Inc. is a Canadian publicly traded senior housing company based in Markham, Ontario. As at 31 December 2019, the company owned and operated 70 seniors’ living residences in addition to managing 13 residences for third parties; all were located either in Ontario or B.C. In Ontario, Sienna was the largest long-term care operator. The company is listed on the Toronto Stock Exchange.
The COVID-19 pandemic in Canada is part of the ongoing worldwide pandemic of coronavirus disease 2019. It is caused by severe acute respiratory syndrome coronavirus 2. Most cases over the course of the pandemic have been in Ontario, Quebec, British Columbia and Alberta. Confirmed cases have been reported in all of Canada's provinces and territories.
The COVID-19 pandemic in Ontario was a viral pandemic of coronavirus disease 2019 (COVID-19), a novel infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first confirmed case of COVID-19 in Canada was announced on January 25, 2020, involving a traveller who had recently returned to Toronto from travel in China, including Wuhan. Ontario has had the largest number of confirmed COVID-19 cases among Canada's provinces and territories, but due to having the largest population, only ranks sixth adjusted per capita. Ontario surpassed one million lab-confirmed COVID-19 cases on January 24, 2022; one day before the anniversary of the first confirmed case on January 25, 2020.
The COVID-19 pandemic in Saskatchewan is part of an ongoing global pandemic of coronavirus disease 2019 (COVID-19), a novel infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).
The COVID-19 pandemic has impacted long-term care facilities and nursing homes around the world. Thousands of residents of these facilities, who are a high-risk group, have died of the disease.
The COVID-19 pandemic was a viral pandemic of coronavirus disease 2019 (COVID-19), a novel infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The pandemic has affected the Cities of Mississauga and Brampton, and the Town of Caledon, within the Regional Municipality of Peel. As part of the larger closure decisions in Ontario, a stay-at-home order shuttered all nonessential businesses, and caused event cancellations.
Camilla Care Community was a 236-resident long-term care home in Mississauga, Ontario, owned by Partners Community Health. It was located next to Trillium Health Partners' Mississauga Hospital. The facility was taken over, temporarily, by the province of Ontario in May 2020, as a result of extensive deaths from COVID-19. The facility closed on December 15, 2023, to make way for the new Mississauga Hospital. Partners Community Health opened Wellbrook Place as a replacement.
Eatonville Care Centre is a privately owned long-term care facility in the Eatonville area of Etobicoke, Toronto, Ontario, Canada. As of 2020, it is owned by Rykka Care Centres. During the COVID-19 pandemic, it was particularly hard-hit, with 142 resident cases and 40 resident deaths. A report by the Canadian Armed Forces — who had been deployed to the facility, to assist — recorded "aggressive behaviour" by staff and drugging of residents that the Forces deemed unnecessary.
The Government of Canada introduced multiple temporary social security and financial aid programs in response to the economic impacts of the COVID-19 pandemic in Canada. The initial CA$82-billion aid package was announced on March 18, 2020 by Justin Trudeau.
The COVID-19 pandemic in Ottawa is part of the global ongoing viral pandemic of coronavirus disease 2019 (COVID-19), a novel infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Ottawa is the fourth most populous city in Canada, the second largest city in Ontario, and the capital city of Canada.
This is a timeline of the COVID-19 pandemic in Saskatchewan, listing key policies and developments from the first confirmed infection from SARS-CoV-2 in the province. Saskatchewan reported its first positive COVID-19 tests on March 12, 2020, and its first deaths on March 30.
The Supporting Ontario’s Recovery Act, 2020 is a law in the province of Ontario that shielded organisations from lawsuits over their role in the spread of COVID-19 and banned city councils in the province from using ranked voting in municipal elections.
COVID-19 vaccination in Ontario began in December 2020, when the first doses of the Pfizer-BioNTech COVID-19 vaccine were administered. In February 2021, shipments for both the Pfizer and Moderna vaccines increased significantly. By May 2021, over 50 percent of Ontarians had received their first dose. By the beginning of 2022, over 80 percent of Ontarians had received their first dose.