FedNor has invested $200,000 in a new medical device invented by a Sudbury medical technology company.
The funding will enable Flosonics Medical, a Sudbury-based developer of non-invasive technology, to create a medical device designed to improve health-care options for critically ill patients.
The funding was announced on Nov. 10 by Sudbury MP Paul Lefebvre and Nickel Belt and Marc Serré, Member of Parliament for Nickel Belt, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedNor.
"Supporting Canadian innovation is a key priority of our government and this investment in Flosonics Medical will encourage the development of a promising technology with the potential to significantly improve patient care here at home and around the world," said Lefebvre.
"Strategic investments, such as this one, will help further position our nation as a world-leader in the innovation economy."
Sudbury-based Flosonics Medical will use the FedNor funding to create an Automated Fluid Response Ultrasound system that will determine whether intravenous fluids are a viable and effective treatment option for critically-ill patients.
In addition to supporting the research and development of the product, the investment will also assist with clinical trials and preliminary market development.
"This exciting initiative will allow us to capitalize on an immediate opportunity to develop a wearable medical device that will enable health-care providers to better care for critically ill patients," said Andrew Eibl, COO and co-founder, Flosonics Medical.
"We are pleased to partner with the Government of Canada to develop our FloPatch technology and we look forward to the positive impact it will have on healthcare delivery in Canada and beyond."
