The Government of Canada investment will help Flosonics Medical develop the IT infrastructure required for commercialization and create five new jobs in Greater Sudbury
Flosonics Medical is pleased to announce that it has received a $500,000 investment from the Government of Canada to accelerate the integration of FloPatch in hospitals across North America.
The repayable investment will help Flosonics Medical develop the IT infrastructure required to commercially roll out its FDA-cleared medical device. It will also create five new jobs and support 17 existing positions in the Greater Sudbury area.
The funding will be 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.
“This FedNor investment will ensure the FloPatch can be seamlessly integrated into the various electronic medical records systems used in hospitals and care centres across Canada and the United States,” said Andrew Eibl, co-founder and COO of Flosonics Medical.
“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.”
Founded in 2015, Flosonics Medical developed the world’s first wireless, wearable Doppler ultrasound system that enables rapid, repeatable, and trusted hemodynamic assessments throughout the continuum of care.
The innovative medical device is capable of providing carotid Doppler metrics that can help clinicians determine when a patient is no longer fluid responsive.
With this funding, Flosonics Medical will hire a team of software developers and industry experts to ensure FloPatch can be fully integrated with the various electronic medical records systems in hospitals and clinics across Canada and the United States.
Health Canada granted Flosonics Medical an authorization for FloPatch under the COVID Interim Order in the summer of 2020.
“Supporting Sudbury’s innovators and job creators is a key priority of our government. I’m excited that this new 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,” said Paul Lefebvre, Member of Parliament for Sudbury.
The Government of Canada previously invested $200,000 in Flosonics Medical to support the research and development of FloPatch, clinical trials, and preliminary market development.
“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,” said Marc G. Serré, Member of Parliament for Nickel Belt.