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Union says sale raises red flags

The Health Employees Union is calling on the provincial and federal governments to reject the takeover of B.C. care homes by offshore investors.
Jennifer Whiteside says an overseas Chinese investment company is looking to purchase a good portion of Retirement Concepts which operates a number of care homes in B.C. including in Nanaimo, Parksville, Qualicum and Comox….
Whiteside says allowing the sale to proceed would represent a major loss of accountability and control over the provision of seniors’ care and it sends a signal to global investors that seniors’ care and other health services in the province are for sale to the highest bidder.

The federal government is reviewing the foreign takeover of Retirement Concepts because of the size of the investment.

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