Revera

Revera Inc., is a privately owned Canadian provider of accommodation, care and services for seniors. It operates long term care[1] and seniors housing retirement residences.[2][3] Formerly named Retirement Residences Real Estate Investment Trust, it used to be publicly traded on the TSX under the symbol RRR.UN and other various symbols but was taken private in 2007.

Revera
IndustryLong Term Senior Citizen Care
Headquarters
Canada
Key people
    • Thomas G Wellner, President and CEO
Websitereveraliving.com

Operating for over 50 years, Revera says it now oversees the second-largest network of accommodation, care and services for seniors in North America, serving older adults at more than 500 locations in Canada and the United States. It also has holdings in the UK.[4]

The company is headquartered in Mississauga, Ontario.[5] Former Mississauga Mayor Hazel McCallion was appointed as the company's first Chief Elder Officer (CEO) in November 2015.[6] In a first for the senior living sector in Canada, the company added a Chief Medical Officer in October 2017, Dr. Rhonda Collins.[7]

In October 2006, PSPIB Destiny Inc., a subsidiary of the Public Sector Pension Investment Board, a crown corporation, offered to purchase all outstanding units of Retirement REIT at $8.35. As of 2007, PSPIB Destiny Inc. has purchased all shares. All shares have been since delisted from the TSX. Name has been changed to "Revera Inc.".

In 2011, Revera acquired Comcare and became one of Canada's largest home care providers.[8] In 2015, Extendicare purchased Revera Home Health, incorporating it into its Paramed Home Health division.[9]

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.[10]

In 2014, Thomas G Wellner was appointed as Revera's President and CEO.[11]

As of January 2019, Revera was facing approximately 85 lawsuits across Canada for neglect contributing to death.[12]

References
  1. http://reveraliving.com/Long-Term-Care.aspx
  2. HealthCare, Genesis. "Genesis HealthCare To Acquire 24 Skilled Nursing Facilities From Revera Inc". www.prnewswire.com. Retrieved 2017-12-07.
  3. "Home Health Care Services". Paramed. Retrieved 2018-08-10.
  4. http://www.reveraliving.com/about-revera/about-revera
  5. "uReport: Revera Inc. opens new office with ribbon cutting ceremony". Mississauga.com. 2017-06-13. Retrieved 2017-12-07.
  6. "Revera Appoints Hazel McCallion as Chief Elder Officer". www.newswire.ca. Retrieved 2018-08-10.
  7. http://www.reveraliving.com/about-revera/news/news-releases/revera-appoints-first-chief-medical-officer,-dr-r
  8. "Revera acquisition of Comcare Limited to create new Canadian home care industry leader". www.newswire.ca. Retrieved 2018-08-10.
  9. http://www.extendicare.com/uploads/private/EXE_RHHAcquisitionRelease-May1-15-Final_7986.pdf
  10. "Welltower, Revera Complete $582 Million Regal Acquisition - Senior Housing News". Senior Housing News. 2015-10-26. Retrieved 2017-12-07.
  11. "Revera Board Appoints Thomas G. Wellner as President and Chief Executive Officer". www.newswire.ca. Retrieved 2018-08-10.
  12. "Families sue care homes, alleging neglect contributed to death of loved ones". www.cbc.ca. Retrieved 2019-01-07.


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