January 21, 2011 - Ottawa, Ontario
The Honourable Tony Clement, Minister of Industry, along with Terence Young, Member of Parliament for Oakville today announced that patients and caregivers in the region may soon benefit from a new personal, in-home medication technology thanks to an investment in PharmaTrust Inc., an Oakville-based business.
"Our government is pleased to be able to support the inventive work going on at PharmaTrust," said Minister Clement. "Through partnerships like these, we are supporting the development of innovative technologies which not only benefit our Canadian economy, but also help to improve the quality of life for Canadians from coast to coast to coast."
Through the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) PharmaTrust Inc. will receive up to $300,000 to develop MedHomeTM, a personal device which will help patients safely and effectively manage their medications. Funding will also contribute to the enhancement of the company's current MedCentreTM infrastructure which makes use of advanced robotics, scanning and video-conference technology, to connect patients in real-time to a pharmacist in another location.
PharmaTrust Inc. also received $1,529,563 from NRC-IRAP in 2009, for the development of a telepharmacy prescription dispensing system, which led to the hiring of eight engineering personnel. The combination of these initiatives will position the company as a world-leading provider of solutions for patients and create a new strategic choice for healthcare industries to deliver innovative telemedicine and pharmacy services.
"When patients receive multiple medications, they face an increased risk of complications which arise due to non-compliance and adherence to their medication orders," said Don Waugh, Chief Executive Officer of PharmaTrust Inc. "Many individuals have trouble properly following their medication schedule as directed by their physician. Studies indicate that medication non-adherence among older adults is a prevalent and costly problem; approximately one half have problems following their prescribed medication regimen, and more than 10 per cent of hospital admissions are the result of medication non-adherence."
Headquartered in Oakville, Ontario, PharmaTrust Inc. is the developer, manufacturer, and operator of the PharmaTrust line of remote healthcare technologies and services. The MedCentreTM and MedHomeTM technologies create a new strategic choice for healthcare industries to deliver innovative telemedicine and pharmacy services.
The Industrial Research Assistance Program provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative small and medium-sized enterprises in Canada.
The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. The National Research Council of Canada is committed to working with small and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians.
Canada's Economic Action Plan provided new resources of $200 million to the National Research Council of Canada Industrial Research Assistance Program over two years to support innovative firms in Canada. Learn more at Canada's Economic Action Plan website (www.actionplan.gc.ca).
