The Ontario government is investing $5.8 million to support two Kitchener-based medical technology companies as they expand production, scale globally, and commercialize Ontario-made health innovations. This funding marks the first round under the Life Sciences Scale-Up Fund (LSSUF) and aligns with Phase 2 of Ontario’s Life Sciences Strategy, complementing the Health Innovation Pathway to accelerate adoption of innovations in the provincial health-care system.
Intellijoint Surgical Inc., a leader in orthopaedic medical technologies, will use a $1.3 million investment, supported by nearly $450,000 from LSSUF, to enhance sales, streamline workflows, and increase production capabilities through AI and automation. The project will sustain 34 existing positions and create three new high-skilled jobs, supporting global deployment of technologies for over 80,000 hip and knee replacements annually.
Vena Medical, a manufacturer of intravascular imaging devices for stroke interventions, will invest $4.5 million to establish a state-of-the-art facility in Kitchener. Nearly $1.5 million from LSSUF will support this project, helping reshore production of AI-powered micro-cameras while maintaining nine existing jobs and creating 13 new high-skilled positions. This investment strengthens Ontario’s domestic manufacturing ecosystem and prepares the company to scale internationally.
The $24 million LSSUF is part of Ontario’s $201 million commitment to drive innovation, attract investment, and reinforce the province’s leadership in biomanufacturing and life sciences. By supporting small and medium-sized companies in scaling operations, commercializing health innovations, and building domestic manufacturing capacity, the program aims to advance next-generation technologies across the health-care supply chain.
Ontario’s life sciences sector employs over 74,000 people across nearly 2,000 companies, with annual exports exceeding $11.8 billion. Since 2018, the province has attracted more than $6 billion in investments, producing a highly skilled workforce through strong STEM education programs. Initiatives like LSSUF and the Health Innovation Pathway ensure that innovations can be rapidly adopted in the health-care system, improving patient outcomes and supporting the province’s economic growth.
Leaders across government and industry highlighted the importance of these investments for patient care, local employment, and global competitiveness. By scaling companies like Intellijoint Surgical and Vena Medical in Ontario, the province strengthens its medtech ecosystem, retains high-quality jobs, and positions Ontario as a global hub for life sciences innovation.
