Assisted Living in British Columbia - Trends in access, affordability and ownership

Although chains did not control the 8 ASSISTED LIVING IN BRITISH COLUMBIA: TRENDS IN ACCESS, AFFORDABILITY AND OWNERSHIP majority of total assisted living and long-term care units in 2016, they had a strong presence in BC, particularly in the private-pay segment of the seniors’ care sector. [...] ASSISTED LIVING IN BRITISH COLUMBIA: TRENDS IN ACCESS, AFFORDABILITY AND OWNERSHIP 13 With declining Report overview access to publicly subsidized assisted Part I of this report explains the policy and fiscal context under which the assisted living model living, and a reliance originated in BC, and the important role of capital financing. [...] 20 ASSISTED LIVING IN BRITISH COLUMBIA: TRENDS IN ACCESS, AFFORDABILITY AND OWNERSHIP PART II The decline of publicly subsidized assisted living spaces and the growth of the private-pay market IN 2016, 63 PER CENT OF ALL PUBLICLY SUBSIDIZED ASSISTED LIVING UNITS in BC were owned Today, seniors in and operated by non-profit organizations, and 33 per cent were for-profit owned and operated British C. [...] It has 2,158 units or 7 per cent of the market share of publicly subsidized assisted living and long-term care units in BC—nearly double the number of publicly subsidized units held by the second-largest chain (Park Place 30 ASSISTED LIVING IN BRITISH COLUMBIA: TRENDS IN ACCESS, AFFORDABILITY AND OWNERSHIP Share of units ASSISTED LIVING IN BRITISH COLUMBIA: TRENDS IN ACCESS, AFFORDABILITY AND OWNE. [...] Six of the top 10 corporate chains in BC have a presence in at least one other Canadian province, and Revera and Chartwell previously were invested in properties with a US-based multinational chain with properties in the US, UK and Canada.39 The financialization of seniors’ care Corporate chain consolidation in seniors’ care is a reflection of financialization in the health care and housing sector.