Chartwell Retirement Residences

Chartwell Retirement Residences is the largest provider of seniors' housing in Canada, with over 200 locations across Quebec, Ontario, Alberta, and British Columbia.[1] Chartwell offers independent living (IL), independent supportive living (ISL), assisted living (AL), memory care (MC), and long-term care (LTC) facilities across Canada.[2]

Chartwell Retirement Residences
TypePublic
TSX: CSH.UN
IndustrySeniors' housing
Founded2003
Headquarters
Mississauga, Ontario
,
Canada
Number of locations
200+
Number of employees
16,000+
Websitechartwell.com

In 2017, Chartwell's revenues were CAD $796.34 million, with a net income of CAD $13.08 million.[3] As of June 25, 2018, the market capitalization of Chartwell was CAD $3.23 billion, and it had more than CAD $3 billion in assets.[4] In 2018, the value of the enterprise was approximately CAD $5 billion.[5]

Chartwell’s vision is “Making People’s Lives Better”. The company Mission is: 1. To provide a happier, healthier and more fulfilling life experience for seniors 2. To provide peace of mind for residents’ loved ones 3. To attract and retain employees who care about making a difference in residents’ lives4. To provide an investment opportunity that benefits society with reasonable and growing returns to unitholders. Chartwell’s values of RESPECT stand for Respect, Empathy, Service Excellence, Performance, Education, Commitment and Trust.[6]

Chartwell established a Diversity and Inclusion Leadership Council in December of 2020. 12 individuals, with various backgrounds and roles within the company, sit on the council. Jonathan Boulakia, Chartwell’s Chief Investment Officer and Chief Legal Officer, is the Executive Sponsor and Chair of the council. The goal of the council is to formalize the company’s commitment to diversity and inclusion in the workplace.[7]


History

Chartwell was founded in 2003 through the merger of JBG Management Inc., Alert Care Corporation, and Chartwell Care Corporation – forming a new entity named Chartwell Seniors Housing Real Estate Investment Trust. It was rebranded as Chartwell Retirement Residences in 2012. Chartwell is an unincorporated, open-ended trust that is governed by the laws of Ontario.[8] Chartwell head office is based in Mississauga, Ontario, as well as two corporate offices in Montreal, Quebec and Vancouver, British Columbia. Chartwell’s portfolio consists of over 200 owned and managed residences. Its long-term care segment make up 10% of its business. As of the end of December 2020, Chartwell employed over 16,000 staff members across the country. Chartwell is the largest seniors housing provider in Canada.[9]

Leadership team

Chartwell's senior executive committee is made up of four individuals.[10] Vlad Volodarski is the chief executive officer, Karen Sullivan is the president and chief operating officer, Jonathan Boulakia is the chief legal officer and the chief investment officer, and Sheri Harris is the chief financial officer.

From 2009-2019, Brent Binions served as President and CEO of Chartwell Retirement Residences. Under his leadership, the company became the largest seniors’ housing company in Canada across four provinces. Mr. Binions is a past President of the Ontario Long term Care Association, past Vice President of the Ontario Residential Care Association and past Vice President for Ontario Retirement Communities Association. He is currently retired, but still sits on Chartwell’s Board of Directors.[11]

Corporate Giving

In 2015, Chartwell assisted in the creation and became the main sponsor of Wish of a Lifetime Canada, a charitable organization focused on granting wishes to seniors in Canada. Since Wish of a Lifetime Canada’s launch it granted over 130 wishes to seniors across the country. Chartwell contributed over $1,000,000 to the fulfillment of those wishes. Chartwell also continues to grant resident wishes through its Moments that Matter program, part of their recreation team’s activity programming in their retirement and long-term care homes.[12]

In 2010, Chartwell created and published a book entitled “HONOUR” to commemorate Canada’s Second World War veterans. The book was available for purchase and all proceeds from the sale of the book were donated to Canadian organizations committed to the remembrance of Canadian veterans. The book can still be downloaded online on Chartwell’s official website. In 2020, ten years after publishing the book, Chartwell donated $25,000 to the Legion National Foundation. [13]

COVID-19 crisis

When the COVID-19 pandemic began, Chartwell enhanced many of its infection control protocols, including sourcing more than 5.7 million pieces of PPE, many of which were brought in before it was required by Public Health authorities. In addition, Chartwell enhanced its regular surveillance of resident health, placed visitor restrictions based on provincial protocols, screened all visitors and staff upon entering, provided enhanced Infection Prevention & Control education for staff, increased cleaning and disinfection of high-touch surfaces and promoted physical distancing in dining rooms, common areas and elevators in all of its retirement and long-term care homes.

Based on Chartwell’s 2020 annual resident survey, Listening to Serve You Better, 96% of residents felt that their Chartwell residence took important measure to keep them safe during COVID-19. Other measures taken by Chartwell during the early days of the pandemic included: launching a proactive recruitment campaign where more than close to 6,000 employees were hired, setting up a 24/7 hotline to support staff with questions, establishing a COVID-19 email hotline for families and the general public, posting transparent information on their website regarding outbreaks and response measures, sending weekly email communications to families, residents and staff to provide updates and launching a survey for residents and families to collect feedback on future COVID-19 optimization. [14]

In the spring of 2020, during the height of the COVID-19 pandemic, Chartwell became one of the founding members of CARES Fund, an organization established to provide emergency financial support to workers in retirement and long term care sectors. In 2020, Chartwell donated $725,000 to the Fund, including a $225,000 contribution by its Directors.[14]

References
  1. "Company Profile". Chartwell Retirement Residences. Retrieved 2020-11-02.
  2. Q1 2018 MD&A | = http://investors.chartwell.com/QuarterlyResults.aspx?iid=4100072
  3. FINANCIALS | = https://web.tmxmoney.com/quote.php?qm_symbol=csh.un
  4. QUOTE | = https://web.tmxmoney.com/quote.php?qm_symbol=csh.un
  5. FINANCIAL STATEMENTS | = http://investors.chartwell.com/QuarterlyResults.aspx?iid=4100072
  6. "Our Vision, Mission and Values". Chartwell Retirement Residences. Retrieved 2019-08-19.
  7. {{cite web |url=https://chartwell.com/en/about-us/environmental-social-governance/esg-updates |title=Environmental Social Governance Updates |work=Chartwell Retirement Residences|accessdate=2020-12-01}
  8. "Chartwell Retirement Residences". Ontario Securities Commission. Retrieved 2020-11-02.
  9. "Management's Discussion and Analysis" (PDF). Chartwell Retirement Residences. Retrieved 2020-11-05.
  10. "Chartwell's Leadership Team". Chartwell Retirement Residences. Retrieved 2020-11-02.
  11. "ORCA Leadership Series - Brent Binions - ORCA - Ontario Retirement Communities Association". ORCA. Retrieved 2020-11-02.
  12. "Wish of a Lifetime: Charity offers life-changing experiences for seniors". CTVNews. Retrieved 2018-03-08.
  13. "Chartwell Retirement Residences Helps Makes The Lives of Canadian Veterans Better By Supporting the Legion National Foundation". Newswire. Retrieved 2020-11-09.
  14. "Chartwell Provides Business Update Related To COVID-19 Pandemic". Newswire. Retrieved 2020-09-15.
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