Interesting subplot - one of the big players, Care UK, is owned by Bridgepoint which has various local govt pension funds as LPs
Reposted from
Prem Sikka
Care home investors rake in billions from pensioners
96% of elderly care privatised. Private equity moving in.
Focus on short-term profits, cut wages/staff, low investment, poor care.
27% price hike. £1.5bn taken by shareholders.
Need integrated healthcare, not sharks.
archive.ph/0HR8Y
96% of elderly care privatised. Private equity moving in.
Focus on short-term profits, cut wages/staff, low investment, poor care.
27% price hike. £1.5bn taken by shareholders.
Need integrated healthcare, not sharks.
archive.ph/0HR8Y
Comments
The greediness and response to incentives in investment are fairly uniform and predictable.
Obviously underfunded, labour the biggest cost, now we’re shutting the door to overseas workers and (rightly) trying to improve T&Cs in the sector through fair pay agreement.
https://www.theguardian.com/business/2011/jul/11/southern-cross-jon-moulton-regulators
The reality is any care is incredibly expensive and someone’s gonna pay for it somewhere.
Everyone pretends it’s someone else’s problem to pay for it
£1.5bn profit from what…?!