Government of Canada invests in Sudbury start-up to commercialize innovative medical device and create jobs
FedNor funding in Flosonics Medical to accelerate the integration of new technology in hospitals across North America, and create five new jobs in Greater Sudbury
January 22, 2021 – Sudbury, Ontario
Entrepreneurs and small businesses are the lifeblood of our communities. They create good jobs, grow our economies, bring life to our main streets and support local families. As we continue to overcome the challenges of COVID-19, the Government of Canada is committed to doing whatever it takes to support businesses, innovators and job creators in Greater Sudbury, Nickel Belt and across the nation. Their success is critical as we recover and rebuild from the pandemic.
Paul Lefebvre, Member of Parliament for Sudbury, and Marc G. Serré, Member of Parliament for Nickel Belt, today announced a repayable Government of Canada investment of $500,000 to help Flosonics Medical develop the IT infrastructure required to commercially roll out its FDA-cleared FloPatch medical device. In the summer of 2020, Health Canada granted Flosonics an authorization for the device under the COVID Interim Order. This investment is expected to help create five high-quality jobs and support 17 existing positions in the Greater Sudbury region.
Specifically, the funding will be used to hire a team of software developers and industry experts to ensure the FloPatch can be fully integrated with the various electronic medical records systems in hospitals and clinics across Canada and the United States. In addition to supporting the research and development of the product, a previous FedNor investment of $200,000 also assisted with clinical trials and preliminary market development for the FloPatch.
Today’s announcement is further proof of the Government of Canada’s commitment to Canadian businesses and entrepreneurs. Initiatives like this will help get Canadians back to work safely and ensure small businesses, like Flosonics Medical, can play a major role in Canada’s economic recovery.
“Strong local economies rely upon the success of entrepreneurs and the prosperity and growth of small businesses. In these uncertain times, we want Canadian businesses to know that we have their back. We will help our business and community partners adapt to the quickly evolving social and economic realities, and support their efforts to strengthen Northern Ontario’s economy and create good paying jobs for Canadians.”
— The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
“Supporting Sudbury’s innovators and job creators is a key priority of our government. I’m excited that this investment in Flosonics Medical will help launch a promising new medical device that has the potential to significantly improve patient care in Sudbury and around the world.”
— Paul Lefebvre, Member of Parliament for Sudbury
“Today’s announcement will help Flosonics Medical improve the delivery of medical services, strengthen the economy and create high-quality middle-class jobs here at home in Nickel Belt and Greater Sudbury. I’m proud that our government is ramping up efforts to help Canadian businesses start up, scale up and commercialize new products.”
— Marc G. Serré, Member of Parliament for Nickel Belt
“This FedNor investment will ensure the FloPatch can be seamlessly integrated into the various electronic medical records systems used in hospitals and care centers across Canada and the United States. We are excited about the FloPatch and the positive benefits this cutting-edge technology will deliver for patients and healthcare providers around the world. We appreciate the tremendous support we received from the Government of Canada during all phases of development.”
— Andrew Eibl, COO & Co-Founder, Flosonics Medical
Flosonics’ FloPatch is the world’s first wireless, wearable Doppler blood flow monitor. This cutting-edge device has the potential to reshape patient care by addressing a common challenge of real-time fluid monitoring in intensive care units.
This innovative Flosonics technology supports more effective decision making and efficient health care delivery, moving patients from high to lower-cost areas of the healthcare system more quickly and economically. The device also supports health practitioners in their efforts to better care for patients remotely, allowing for shorter hospital stays in some cases.
The funding announced today is provided through FedNor’s Regional Economic Growth through Innovation (REGI) program, which supports projects that promote sustainable community economic development, create jobs, enhance business development and growth, and facilitate innovation.
Flosonics Medical operates in the health sciences sector and is currently commercializing its first medical device, the FloPatch, which measures blood flow in critical care settings and can be used to monitor patients remotely.
Office of the Minister of Economic Development and Official Languages
- Date modified: