SHA awarded $3.5 mil­lion to lead in­no­va­tion ini­tia­tive in west­ern Canada

Prairie Post (East Edition) - - NEWS -

On July 28, the Govern­ment of Canada an­nounced the for­ma­tion of the CAN Health Net­work, a health and in­dus­try part­ner­ship de­signed to de­velop in­no­va­tive tech­no­log­i­cal so­lu­tions to ad­dress health care chal­lenges.

As part of the ini­tia­tive, the Saskatchew­an Health Au­thor­ity will be pro­vided $3.5 mil­lion from West­ern Eco­nomic Di­ver­si­fi­ca­tion Canada (WD), to fa­cil­i­tate the cre­ation of the CAN Health West Net­work, com­pris­ing mem­ber health care or­ga­ni­za­tions from across all four west­ern prov­inces.

Read the rest of this news re­lease on the Saskatchew­an Health Au­thor­ity web­site:

The Hon­ourable Mary Ng, Min­is­ter of Small Busi­ness and Ex­port Pro­mo­tion, to­day an­nounced that the Govern­ment of Canada will sup­port a $20-mil­lion pro­ject pro­posal to scale up com­pa­nies in health and bio­sciences.

This will be done through an ini­tial $7-mil­lion in­vest­ment to sup­port the es­tab­lish­ment of the CAN Health Net­work with its first net­work part­ners.

The CAN Health Net­work is an in­te­grated mar­ket that will al­low promis­ing com­pa­nies to work di­rectly with health care or­ga­ni­za­tions to un­der­stand their needs and com­mer­cial­ize health tech­nolo­gies to meet those needs and scale up their com­pa­nies.

Through this in­te­grated mar­ket, small and medi­um­sized en­ter­prises (SME) and lead­ing start-ups will be able to work with early adopter in­sti­tu­tions to col­lab­o­ra­tively re­search, de­velop and re­fine Cana­dian med­i­cal tech­nolo­gies to make them mar­ket-ready.

With pro­cure­ment of­ten iden­ti­fied as both a bar­rier and an op­por­tu­nity, the CAN Health Net­work builds di­rectly on the rec­om­men­da­tions of the Health and Bio­sciences Eco­nomic Strat­egy Ta­ble to ac­cel­er­ate in­no­va­tion adop­tion through new in­no­va­tion pro­cure­ment mod­els.

Health care spend­ing in Canada reached $253 bil­lion in 2018—11% of the coun­try’s GDP—and the in­ter­na­tional mar­ket for med­i­cal tech­nolo­gies alone is es­ti­mated at $500 bil­lion an­nu­ally.

With mar­ket op­por­tu­ni­ties of this mag­ni­tude, the global health tech­nol­ogy sec­tor is grow­ing rapidly in Canada and around the world, and the CAN Health Net­work will po­si­tion Cana­dian com­pa­nies for suc­cess.

To­day’s in­vest­ment will build the first points of the na­tional net­work in west­ern Canada and On­tario, with fur­ther ex­pan­sion planned for Que­bec, At­lantic Canada and north­ern Canada. The suc­cesses of these ini­tial in­vest­ments will guide fu­ture fund­ing de­ci­sions.

With $3.5 mil­lion from West­ern Eco­nomic Di­ver­si­fi­ca­tion Canada, the Saskatchew­an Health Au­thor­ity will lead the cre­ation of the CAN Health Net­work in west­ern Canada, work­ing with:

•Al­berta Health Ser­vices;

•Chil­dren’s Hos­pi­tal Re­search In­sti­tute of Man­i­toba;

•O’Brien In­sti­tute for Pub­lic Health, Univer­sity of Cal­gary; and

•Van­cou­ver Coastal Health.

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