Controversy
In October 2006, PSPIB Destiny Inc., a subsidiary of the Public Sector Pension Investment Board (a Canadian Crown corporation) offered to purchase all outstanding units of Retirement Residences REIT at $8.35 per unit.[9] In 2007, PSPIB Destiny Inc. completed the purchase of all units, which were subsequently delisted from the TSX.[2] The company's name was then changed to Revera Inc.
In 2011, Revera acquired Comcare and became one of Canada's largest home care providers.[10] In 2015, Extendicare purchased Revera Home Health, incorporating it into its Paramed Home Health division.[11]
In 2014, Thomas G. Wellner was appointed as Revera's president and CEO.[12] Also in 2014, Revera, in partnership with Health Care REIT (HCN), acquired the management company of Sunrise Senior Living. In 2015, Revera, in partnership with Welltower, acquired Regal Lifestyle Communities.[13] In January 2019, Revera was facing approximately 85 lawsuits across Canada for neglect contributing to death.[14]
In Manitoba, a number of covid outbreaks took place in Revera managed care homes. As of November 26, 48 people died at Maples, 28 at Parkview Place, 4 at Heritage Lodge and one each at Poseidon and Beacon Hill Lodge. Revera was in the news as a paramedic whistleblower revealed insufficient staffing, multiple deaths, and widespread dehydration and hunger among residents at one home, where 8 residents died over the course of a weekend.[15]
