Ontario Together Fund investing more than $1.9M in medical manufacturers
by CM Staff
The investment is hoping to create at least 41 new jobs and support growing Ontario as a biomanufacturing hub.
TORONTO — On Apr. 14, through the Ontario Together Fund, the province announces it is investing more than $1.9 million to support three projects, which are expected to create at least 41 new jobs.
“Through the Ontario Together Fund, our government is making strategic investments in innovative homegrown businesses with the ideas and solutions to help us support Ontario’s vibrant innovation and medtech ecosystem,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade.
AceAge Inc. is a Burlington-based healthcare technology company that creates intuitive products to ease the aging process and improve health outcomes. AceAge’s product, Karie, is a smart pill dispenser that delivers, reminds, connects, and secures medication to promote medication adherence for seniors. Karie helps to reduce those taking medication from needing emergency care visits or assisted living care admissions.
AceAge is investing $1,540,000 to scale up domestic manufacturing and assembly of Karie devices to meet domestic and international demand and to make upgrades to their app. With the support of $616,000 through the Ontario Together Fund, the project will create 25 new jobs.
KA Imaging is a homegrown medtech company incubated from the University of Waterloo that specializes in developing X-ray imaging technologies and systems. The company’s intellectual property portfolio includes 80 global patents.
KA Imaging is investing $1,488,000 to create a dual-energy mobile X-ray system using their Reveal 35C dual-energy X-ray detector. The mobile X-ray will have increased imaging diagnostic capacity for a variety of patients, including those in critical care and for those located in rural and remote communities where stationary X-ray machines such as CT scans and MRIs are not feasible or accessible. With the support of $967,200 through the Ontario Together Fund, the project will create four new jobs.
Microbonds Inc. is a Markham-based company that is involved in advanced material science, thin-film, and nanotechnology coatings. The company developed X-Wire Technology, a nano-coating that is part of the semiconductor industry. Microbonds also developed ThermoPlating, a process that allows metals to be bonded to a range of hard and soft surfaces that can be used for a variety of industries and applications.
Microbonds is investing $668,166 to produce its metal-infused textiles to create more effective personal protective equipment (PPE), in addition to its uses for other medical and health applications. With the support of $334,000 through the Ontario Together Fund, the project is expected to create 12 new jobs.
