First of Its Kind Impact Investment to Drive Growth of Innovative Solution to Increasing Demand for Care Services

Victoria Hospital Foundation and Boann Social Impact announce a $1.02 million impact investment in Manitoba Possible’s home care and respite platform, Care Possible, to address the growing demand for care services across Manitoba. Care Possible is a groundbreaking online technology connecting individuals and families in need of home care and respite with independent care providers.

Victoria Hospital Foundation and Boann Social Impact have partnered to invest up to $1.02 million to support the commercial growth of Care Possible. This partnership marks the first and only direct investment by Boann Social Impact anywhere in Canada, highlighting the groundbreaking work happening in Manitoba. Impact Investing is an innovative approach for Foundations and other investors to drive innovation in areas such as healthcare, while making financial returns on their investment. This investment will take the form of a repayable interest-bearing loan.

“We are incredibly grateful for the support of Victoria Hospital Foundation and Boann Social Impact for helping grow Care Possible to meet the critical need for personalized, reliable care for seniors, persons with disabilities, and the people who love them,” said Lindsey Cooke, Chief Executive Officer, Manitoba Possible.

The Canadian Centre for Caregiving Excellence reports that caregiving responsibilities are taking a serious toll on caregiver emotional and financial wellbeing, with the average caregiver providing nearly 30 hours of unpaid care a week, nearly the equivalent of full-time job. According to the Government of Manitoba’s Future of Home Care Services in Manitoba report, spending on home care alone is projected to reach $897 million by 2037.

Since launching in October 2022, Care Possible has experienced continual growth and now proudly serves over 2000 registered users on the platform.

“Investing in innovative solutions like Care Possible helps us to make a meaningful impact in the lives of Canadians while growing the social finance marketplace,” said Derek Ballantyne, Chief Executive Officer, Boann Social Impact.