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By Troy Gillard

$5.5 million

Alberta’s health and life sciences sector gets federal funding boost

Dec 18, 2020 | 11:18 AM

More than $5.5 million in federal funding through Western Economic Diversification Canada has been announced to help Alberta firms introduce new health and medical products for market.

In a release, the federal government says investing in key sectors such as Alberta’s growing health and life sciences cluster is part of its focus on creating high-value jobs that support a strong economic recovery in the West.

“Throughout the COVID-19 pandemic, Canadians and Canadian businesses have shown determination and unity to protect one another. We continue to see Canadian businesses step-up by shifting manufacturing to develop products and technologies that help us prevent the spread of COVID-19,” said Jim Carr, the Prime Minister’s Special Advisor for the Prairies. “Whether targeting COVID-19 or other ailments, the innovative medical products and services supported by today’s investment will protect the health of Canadians and enable entrepreneurs to emerge from this pandemic stronger than before.”

The funding is going to four Alberta-based organizations and companies:

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The Institute of Health Economics (IHE), an Alberta-based not-for-profit organization, is receiving $953,250 over three years to support approximately 30 western Canadian health companies with customized economic analysis that will help to 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 initiative.

Health City

Health City, an Edmonton-based not-for-profit organization, is receiving $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.

Kent Imaging, a Calgary-based health technology company, is receiving $1,750,000 in repayable 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 builds on WD’s previous funding of more than $1.1 million in repayable funding for Kent Imaging to introduce its imaging technology into the surgical market.

Circle Cardiovascular Imaging Inc.

Circle Cardiovascular Imaging, a 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.