Holt government says it has no concern about company despite news of serious financial difficulties
The Government of New Brunswick has signed a virtual care services contract with Foundever Group.
In an emailed statement on Wednesday, March 25, acting Senior Director of Media Relations, Bruce Macfarlane, said the government has no concerns about the company’s ability to fulfill the contract.
“We are confident that Foundever Assistance Services Corporation is able to deliver on the services outlined in the recently signed contract. They also provide Tele-Care 811 services, and we have full confidence in their performance in that role as well.”
In February, the Government of New Brunswick announced it would let its online medical services contract with eVisitNB expire and continue the service with a new company, one under the Foundever Group umbrella.
In December 2025, S&P Global Ratings, a U.S. credit rating agency, downgraded Foundever Group to a CCC rating from a previous B- rating.
https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3496757
S&P defines a company with a CCC rating as “currently vulnerable to nonpayment… the obligor is not likely to have the capacity to meet its financial commitments on the obligation.”
Greg MacPherson, a senior financial advisor with Manulife Wealth in Woodstock, said a CCC rating is “worrisome.”
A CCC rating is the last rating before default.
“If I held debt with this organization or was in business with them, I would personally be concerned,” said MacPherson.
Woodstock-Hartland MLA and Conservative Health Critic Bill Hogan said news that the government signed a deal with Foundever is “unbelievable.”
Earlier in the day, he peppered the premier with questions in the legislature.
“Foundever is only one rating drop away from bankruptcy, and this is the company to which Premier Holt is bound and determined to give a monopoly on all of New Brunswick’s eHealth business,” he said. “Will the Premier tell the people of New Brunswick when she learned that Foundever was downgraded by S&P Global Ratings to ratings that are described as being currently vulnerable and reliant on favourable conditions?”
It was Health Minister Dr. John Dornan who rose to answer the question.
“We have a good, credible company that will provide a good health solution hereafter,” said the minister. “We have a smooth transition plan.
New Brunswickers need not be afraid—they will have virtual care. We are glad that this is one company that will be able to provide a solution to all New Brunswickers. We’re very pleased that this will augment the other aspects of primary care that we so proudly deliver in our province.”
Hogan was quick to respond.
“It’s getting more disturbing. It’s looking more and more as though the Premier and the Minister of Health have absolutely no real understanding of business or finance,” he said. “I bet her former colleagues at the Jobs Board are saying, ‘I told you so.’ ”
Foundever Group, with global headquarters in Luxembourg and corporate offices in Miami, Florida, was supposed to take over services from eVisitNB on April 1, following a Request for Proposals (RFP) that was issued by the Department of Health (DOH) last October.
On Tuesday, March 24, eVisit CEO Dr. Hanif Chatur confirmed his company’s contract was being extended to June 30.
eVisitNB was awarded the province’s first virtual care contract in 2022 – without an RFP. The virtual medical company was created at the beginning of the COVID-19 pandemic by Woodstock ER Dr. Hanif Chatur and Stanley-area family physician Jonathan Clayton.
Last year, eVisitNB was informed that the government would issue an RFP for the service. The province analyzed 11 bids.
eVisitNB participated in the RFP under a planned April 1 name change, ThinkNew Health Technologies, Dr. Chatur confirmed.
His company was the only New Brunswick-owned firm involved in the process.
