The Quebec government is providing Icentia with financial assistance of $ 1,151,500 in the form of a loan under the Biomed Propulsion program, administered by Investissement Québec. The company will be able to accelerate the commercialization of the CardioSTAT test in Canada and the United Kingdom, in addition to attacking new markets.
Vanier-Les Rivières deputy Mario Asselin made the announcement today on behalf of the Economy and Innovation Minister and Responsible Minister for the Lanaudière region, Pierre Fitzgibbon.
The CardioSTAT test is based on a portable wireless ECG recorder that provides continuous monitoring for up to 14 days. The small device allows an accurate diagnosis of cardiac abnormalities without interfering with the patient in his daily activities.
Quotes:
"The life sciences represent one of the most dynamic industries in the Capitale-Nationale, where companies from the Quebec VITAE niche of excellence are grouped together. Icentia is one of them, and the Government of Quebec is pleased to help this flagship of our local economy to continue its international growth. I am even more proud that the investment announced today will create around thirty quality and well-paid jobs. "
Mario Asselin, Deputy for Vanier-Les Rivières
"Collaboration between businesses, universities and research centers is one of the keys to stimulating innovation in Quebec. Icentia’s success stems, among other things, from its collaboration with the Quebec Heart and Lung Institute, which made it possible to design this very light heart rate monitor. The team also works with the Quebec Institute of Artificial Intelligence, MILA, for the continuous improvement of its data analysis software. Stimulating innovation and increasing exports are two of our priorities as a government, and the Icentia project is fully in line with our objectives. "
Pierre Fitzgibbon, Economy and Innovation Minister and Responsible Minister for the Lanaudière region
"The CardioSTAT test is an exemplary innovation that allows us to collect crucial information over a longer period of time in order to effectively detect heart problems and prevent their consequences. Our government is committed to supporting the implementation of such innovative projects, which help improve the daily quality of life for many people. "
Danielle McCann, Health and Social Services Minister
“A long-standing partner of the company, Investissement Québec is proud to renew its confidence in Icentia, a player with high potential in the medical technology sector, so that it benefits from the flexibility necessary to develop new markets and consolidate its position, in Quebec and abroad, all in order to accelerate its growth. "
Guy LeBlanc, President and CEO of Investissement Québec
Highlights:
Founded in 2012, Icentia specializes in the development of medical devices and analytical services. The company offers a range of innovative medical tests for healthcare facilities.
Last September, Icentia ranked 48th among the 400 fastest growing Canadian companies according to the Globe and Mail. The ranking is based on growth in business revenues over the past three years.
The main objective of the Biomed Propulsion program is to financially support Quebec companies with high growth potential in the life sciences sector, in order to encourage them to commercialize the results of their research, while favoring the contribution of private investors.