Burlington healthcare tech company gets provincial funds to help meet demands
Published April 14, 2022 at 3:18 pm
A Burlington-based healthcare technology company is getting $616,000 in provincial funding to scale up domestic manufacturing and assembly for one of its products.
AceAge Inc., which creates intuitive products to ease the aging process and improve health outcomes, will use the money from the Ontario Together Fund in part to create 25 new jobs.
The local company is investing $1,540,000 to scale up domestic manufacturing and assembly of its Karie devices to meet domestic and international demand and to make upgrades to their app.
Karie helps reduce those taking medication from needing emergency care visits or assisted living care admissions.
It’s a smart pill dispenser that delivers, reminds, connects, and secures medication to promote medication adherence for seniors.
“Karie supports seniors and other Ontarians to maintain their independence and wellness, whether they are aging at home, supported by home care or in Retirement Living homes,” said John Simmons, CEO of AceAge.
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“The OTF support is significant and will allow us to continue to grow our business while creating manufacturing, science and engineering jobs here in Ontario.”
The Burlington-based company is one of three companies receiving $1.9 million from the provincial fund to support their projects.
A total of 41 new jobs are expected to be created in increasing manufacturing of domestic medical supplies and the development and export of homegrown solutions and innovations.
KA Imaging in Waterloo ($967,200) and Microbonds Inc. ($334,000) in Markham are also receiving money from the fund.
“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.
“Ontario is proud to support these three companies, and we thank them for their solutions that are enhancing our capacity to support our healthcare system while creating good, local jobs for our talented workforce.”
AceAge launched their Karie medical device in 2018 after three years of development.
“To make it easier for people and their loved ones to take the right medication at the right time,” said Jane McKenna, MPP for Burlington. “Our government is proud to support AceAge in the development and distribution of simple health tools that help encourage better health outcomes.”
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