Parliament in Ottawa (Canadian Press)

By Justin Goulet

Federal funding supports Alberta’s health and life sciences sector

Dec 18, 2020 | 11:33 AM

EDMONTON, AB – The federal government has announced an investment in Alberta-made medical advancements.

Through Western Economic Diversification Canada (WD), four Alberta-based organizations and companies will benefit from the more than $5.5 million investment.

· Institute of Health Economics (IHE)

o The Alberta-based not-for-profit organization is getting $953,250 in WD funding over three years to support roughly 30 western Canadian health companies with customized economic analysis that will help determine the value of their products and technologies. IHE will help companies develop and commercialize innovative products faster by enabling their testing in clinical settings and providing product analysis. Up to 20 products are expected to be developed for market through this.

· Health City

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o The Edmonton-based not-for-profit will be getting $200,000 to deliver a program for approximately 12 digital technology companies to learn how to integrate their products into regional healthcare information technology systems. A key partner in this project is Brightsquid, a Calgary-based health technology company that provides secure communication tools, privacy compliance expertise, and training to healthcare providers.

· Kent Imaging Inc.

o The Calgary-based health technology company will get $1,750,000 in repayable WD funding to introduce the next generation of its medical imaging devices. The enhancements to its existing product line are expected to further support wound care clinicians and vascular surgeons in assessing the state of a patient’s tissue health and quickly determining the required level of treatment. This funding builds off WD’s previous funding of more than $1.1 million in repayable funds for Kent Imagining to introduce its imaging technology into the surgical market.

· Circle Cardiovascular Imaging Inc.

o The Calgary-based health technology company is receiving $2,647,000 in repayable WD funding to develop and commercialize new products that provide physicians with the ability to accurately diagnose complex cardiovascular diseases. Funding will support the company to integrate artificial intelligence into its diagnostic tools.

“The Government of Canada is committed to supporting the development of new and improved medical products and technologies that protect the health of Canadians and advance Canadian-made health solutions,” read a release from the federal government.

“Investing in key sectors such as Alberta’s growing health and life sciences cluster is part of the Government of Canada’s focus on creating high-value jobs that support a strong economic recovery in the West.”

More on Western Economic Diversification Canada can be found here.