Canadians will soon benefit from improved health‑care options to support the management of chronic disease as a result of a $15 million investment to York University and partners, Southlake Regional Health Centre and the University Health Network. This investment by the Government of Canada was announced today by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Agency for Southern Ontario (FedDev Ontario), along with Kyle Peterson, Member of Parliament for Newmarket–Aurora.
The Government’s Innovation Agenda aims to make Canada a global centre for innovation – one that creates jobs, drives growth across all industries and improves the lives of all Canadians. This investment is a prime example of that vision in action. An estimated three out of five Canadians over the age of 20 years old are diagnosed with at least one chronic disease. And the rates of chronic disease diagnosis are rising steadily every year. The treatment of chronic disease is estimated to cost Canadians $39 billion annually.
The investment, through the Investing in Commercialization Partnerships initiative, will be used to develop and commercialize clinical applications as well as medical devices. These technologies make use of the vast amounts of clinical data available to create health solutions that are tailored to the needs of individual patients. Such innovations have the potential to improve outcomes for patients, reduce costs for health‑care providers and create nearly 130 highly skilled, well‑paying jobs for Canadians working in this emerging field. The project brings together university‑ and hospital‑based researchers with the business community. The investment will be matched by $19.5 million from 36 partners, resulting in a total budget of $34.5 million, which will help position southern Ontario as a leader in health technology, while providing Canadians with better, more precise ways to manage chronic disease.