In the U.S., the growing role of private equity firms in health care is coming under heightened scrutiny, with Senate committee hearings and a cross-government public inquiry launched earlier this year.

In the U.S., companies backed by private equity firms manage emergency rooms and anesthesiology practices. Private equity firms are even buying whole hospitals in the U.S.

That’s not happening in Canada, but private equity investment firms have bought up facilities outside of hospitals, starting about 25 years ago with long-term care homes. That arrangement didn’t show up on the public radar until the COVID-19 pandemic emergency, which hit care homes exceptionally hard.

Canadian researchers have found a disproportionate number of deaths in long-term care residences owned by private equity firms and large chains.

As some provinces welcome private equity in public health care, the firms are increasingly involved in nursing homes and surgery clinics.