MISSISSAUGA, ON, May 13, 2020 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) today issued the following statement from its CEO, Vlad Volodarski:
We are proud to announce our role as a founding partner in the launch of the Senior Living CaRES Fund (the "CaRES Fund") inspired by the heroic efforts of long term care and retirement residence employees most especially during the COVID-19 pandemic.
Born from an idea of Chartwell's President and Chief Operating Officer, Karen Sullivan, a 33-year sector veteran and a passionate people leader, the CaRES Fund will offer one-time financial grants of up to $10,000 for urgent financial needs to employees of all retirement and long term care operators in Canada. The CaRES Fund founding members, Chartwell Retirement Residences, Revera Inc., Extendicare and Sienna Senior Living, have committed an initial capital investment of $2 million to this initiative.
In appreciation for the dedication of all senior living workers on the front lines and for their selfless commitment to residents, families and each other, our Board of Directors have waived a portion of their 2020 compensation to allow Chartwell to contribute an additional $225,000, on top of its original $500,000 contribution.
Longer term, the CaRES Fund will work to achieve charitable status for continued emergency support and to provide assistance for employees and their families seeking to pursue higher education and/or training. The CaRES Fund invites other operators, sector partners and the community to join us in expanding the vision and resources for this initiative so it can continue to be a reflection of the dedication, commitment and incredible selflessness of senior living employees for years to come.
This initiative is another example of industry leaders coming together to support our employees and the senior living sector. As previously announced, Chartwell was also a founding member of the Canadian Alliance to Protect and Equip Senior Living ("CAPES"). CAPES represented the coming together of senior living operators, volunteers and partners who combined funds to act as a joint purchasing group to supply much needed personal protective equipment ("PPE") to front-line employees in senior living. The founding members overfunded their PPE orders by 35% to allow the excess supply to be available at cost to smaller operators across Canada.
COVID-19 has had an extraordinary effect on our country, our communities and our families. But it has particularly impacted the senior living sector and employees working in our residences. We stand together with all senior living operators in putting the safety and support of our people and residents first during this pandemic.
It is truly humbling to see the commitment of employees in all retirement and long term care residences across Canada, despite the risks, to care for someone else's loved one. The CaRES Fund is our collective thank you.
Applications for financial assistance can be made online at https://www.seniorlivingcares.ca/
Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities, from independent supportive living through assisted living to long term care. It is the largest operator in the Canadian seniors living sector with over 200 quality retirement communities in four provinces, including properties under development. Chartwell is committed to its vision of Making People's Lives BETTER and to providing a happier, healthier and more fulfilling life experience for its residents. For more information, visit www.chartwell.com
SOURCE Chartwell Retirement Residences
For further information: Chartwell Retirement Residences, Vlad Volodarski, Chief Executive Officer, Tel: (905) 501-4709, [email protected]