The Ontario government is making good on its promise to help hospitals across the province recover from historic working funds deficits compounded by the COVID-19 pandemic. The province is providing up to $696.6 million to help strengthen the financial stability of public hospitals, with a focus on small and medium-sized hospitals. This funding includes a $8,432,300 investment in the West Parry Sound Health Centre and a $7,712,500 investment in Muskoka Algonquin Healthcare.
“I am very pleased to see the Ontario government provide this funding to support small and medium-sized hospitals throughout the COVID-19 pandemic,” said Parry Sound – Muskoka MPP Norm Miller. “This funding will help to financially stabilize our hospitals, which in turn will allow them to prepare for the future.”
This funding is a part of the over $1.2 billion investment previously announced to help hospitals recover from financial pressures created and worsened by the COVID-19 pandemic, while ensuring they can continue providing the high-quality care Ontarians need and deserve. This funding will also help to ensure that Ontario’s hospitals are able to respond to any scenario as the COVID-19 pandemic evolves.
“Ontario’s hospitals have been on the frontlines of the COVID-19 pandemic and our government is using every tool at our disposal to support them,” said Christine Elliott, Deputy Premier and Minister of Health. “This funding will ensure Ontario’s hospitals can continue to provide high-quality care to all Ontarians and that our hospital system is ready to respond to any scenario this fall.”
Since the onset of the pandemic, Ontario has been working with its hospital partners to create unprecedented capacity to respond to any scenario. The government remains committed to supporting hospitals so that they can continue to care for Ontarians today and in the future.
Natalie Bubela, President & CEO of Muskoka Algonquin Healthcare, says this working capital increase will stabilize operations, erase the long-standing capital deficit that MAHC has faced and will put MAHC on solid financial footing moving forward. “A financially stable health care organization is vital now more than ever and we are very appreciative of this recognition from the provincial government and the ongoing support of MPP Miller.”
“West Parry Sound Health Centre is grateful to MPP Norm Miller and the government of Ontario for this significant funding announcement that recognizes a historic working capital deficit that has challenged our hospital for many years,” said Donald Sanderson, CEO of WPSHC. “Just as hospitals improve the health of our community, this investment will improve the financial health of our hospital and position us for continued success as we provide vital health programs and services in a post pandemic world.”
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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
