Companies in Canada are being bought up by private equity at an incredible rate. The list includes Rexall, MEC, Value Village, WestJet and Sleep Country.But it also includes local businesses: vets, dentists, retirement homes and more. Critics say it’s an unchecked shift in the economy that results in negative, often dangerous outcomes – where the profit motive can mean higher prices and lower quality of care.We’re speaking to someone who has brokered such deals: Rachel Wasserman is a lawyer and former investment banker who left that world behind to become a researcher for the Canadian Anti-Monopoly Project. Her forthcoming paper is called The Private Equity Playbook: Understanding the Secretive Industry Hollowing Out the Canadian Economy. She joins us to talk about the cutthroat world of leveraged buyouts, the risks of corner-cutting, and what a private-equity future means for Canada’s economy.Plus: producer Jay’s cat, Leo, is doing his own investigating to find out why his vet stopped giving out so many treats.This is Lately. Every week, we take a deep dive into the big, defining trends in business and tech that are reshaping our every day.Lately is hosted by Vass Bednar. Our executive producer is Katrina Onstad. The show is produced by Jay Cockburn. Our sound designer is Cameron McIver. Subscribe to the Lately newsletter, where we unpack more of the latest in business and technology.Find the transcript of today’s episode here.We’d love to hear from you. Send your comments, questions or ideas to [email protected].

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