TORONTO, ONTARIO--(Marketwire - Sept. 17, 2012) - The Ontario government should keep its promise of non-profit delivery of health care and refuse to approve Centric Health's acquisition of the Shouldice Hospital, said physicians from across the country today.
Centric Health, a for-profit company, recently announced that it intends to purchase assets of Shouldice Hospital, effectively becoming the new operator of Shouldice. Under the Private Hospitals Act of Ontario, the sale requires the approval of the Minister of Health and Long-Term Care.
"Earlier this year, we were happy to see Minister Matthews commit to non-profit delivery of health care in Ontario's Action Plan for Health Care," said Dr. Danielle Martin, chair of Canadian Doctors for Medicare. "We're calling on the Minister to uphold that commitment, and reject this sale."
Centric Health is a publicly-traded company controlled by the U.S.-based Global Healthcare Investments & Solutions. Centric is rapidly gaining market share in surgical facilities across Canada, acquiring 14 new companies in seven provinces between 2009 and 2011 alone.
"No matter the terms of this sale, Centric is a for-profit company with a profound incentive to find ways to profit from Ontario's patients," said Martin. "Bringing for-profit operators into the publicly funded health care system is rarely in the public interest."
Read CDM's backgrounder on Shouldice and Centric here: http://www.canadiandoctorsformedicare.ca/media-release-shouldice.html.