Thousands of patients in Montreal's West Island risk losing doctors if private clinic deal falls through
CBC
Montreal's West Island may lose one of its private health-care providers, the Children's Clinic based in Pointe-Claire, Que., which would affect as many as 300, 000 patients per year.
That's what's expected unless clinic's owner Brunswick Group, one of the largest private medical clinic groups in the province, is able to finalize a deal to restructure its finances.
The clinic employs 125 people. For now, its doors remain open, and it has not cut back on services.
According to court documents obtained by Radio-Canada, the Brunswick Group asked for protection under the Bankruptcy and Insolvency Act in July 2023.
Ayman Chaaban, partner and trustee at accounting firm Raymond Chabot Grant Thorton, says the Quebec Superior Court appointed him to monitor the Brunswick Group's finances under the Bankruptcy Act and Insolvency Act earlier this month.
"Brunswick Group is insolvent," reads a report Chaaban sent to the court.
The document points to an accumulated deficit of $21 million. The Brunswick group also owes over $41 million to secured creditors and nearly $7 million to unsecured creditors.
According to Chaaban, the financial trouble stems from the losses from the COVID-19 pandemic and a recent expansion project. The decision to build an additional tower for the Pointe-Claire clinic in 2019 raised the debt for the amount of revenue, he said.
In addition to that investment, the pandemic led to a reduced number of patients visiting the clinic, which cut into its profits, he said.
"They were already significantly indebted. They had to go get additional loans to cover losses," Chaaban said.
Despite financial woes, Chaaban told CBC News that an agreement in principle with a buyer was reached last week. He said there are still some conditions to be negotiated and some final steps to take but he expects the deal to be sealed before the end of February.
According to Radio-Canada, the ELNA Medical Group is in the running to acquire the medical activities of the Brunswick Group. "ELNA forms the largest network of medical clinics in Canada," reads its website.
The regional health authority, the CIUSSS de l'Ouest-de-l'Île-de-Montréal, told Radio-Canada it's "aware of the financial difficulties encountered by the clinic in question."
"With this in mind, we are ready to adopt mitigation measures if necessary, in order to minimize any potential impact on the services offered to the population ," the CIUSSS said in a statement.
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