KITCHENER, Ont. — The Ontario government is supporting $5.8 million in investments by two Kitchener-based medical technology companies, marking the first round of funding under its new Life Sciences Scale-Up Fund and aiming to strengthen the province’s competitiveness in the fast-growing global health sciences sector.
The provincial funding will help Intellijoint Surgical Inc. and Vena Medical expand manufacturing, adopt advanced technologies and scale their products for domestic and international markets. The projects are expected to support 59 jobs, including new high-skilled positions, while reinforcing Ontario’s position as a hub for life sciences innovation.
“Ontario has a long and proud history of advancing the research and development of cutting-edge breakthroughs and life-saving technologies that have had a significant impact on patient care both domestically and internationally,” Vic Fedeli, Minister of Economic Development, Job Creation and Trade, said in a statement. “Through the Life Sciences Scale-Up Fund, our government is making sure Ontario-based entrepreneurs are equipped with the tools they need to grow their operations, scale globally and remain competitive in the age of innovation.”
The Life Sciences Scale-Up Fund is part of a broader $201-million provincial effort to attract investment, build domestic manufacturing capacity and accelerate commercialization of health technologies. The fund itself totals $24 million and aligns with the province’s Life Sciences Strategy and Health Innovation Pathway, which are designed to help companies bring new medical solutions into the health-care system more quickly.
Intellijoint Surgical, which develops orthopaedic surgical technologies used in more than 80,000 hip and knee replacements globally, is investing $1.3 million in a project to integrate artificial intelligence and automation into its operations. The initiative is supported by nearly $450,000 in provincial funding and will help maintain 34 existing jobs while creating three new positions.
“Intellijoint is a proudly Canadian medtech company competing on the global stage,” said Armen Bakirtzian, Co-founder and CEO of Intellijoint Surgical. “Programs like LSSUF and the Health Innovation Pathway are critical to helping domestic companies like ours scale at home while expanding internationally. This funding strengthens Intellijoint’s ability to innovate, create high-quality jobs in Kitchener, and build a globally competitive business. We thank the Ontario government for its continued support of the domestic medtech sector.”
Vena Medical, which produces intravascular imaging devices used in stroke treatment and diagnostics, is making a larger $4.5-million investment to establish a new manufacturing facility in Kitchener. Supported by nearly $1.5 million from the province, the project will reshore production of the company’s AI-powered micro-camera and support nine existing jobs while creating 13 new roles.
“Our team has engineered a highly complex, microscopic medical device, and now we have the state-of-the-art cleanroom and manufacturing infrastructure to build it at scale,” said Phillip Cooper, Co-founder and COO, Vena Medical. “With the backing of the LSSUF, we are scaling our manufacturing right here in Kitchener. We are ready to take this Kitchener-Waterloo-born innovation to the rest of the world.”
Provincial officials say the investments come at a critical time for Ontario’s health-care system and economy, as demand grows for innovative technologies that can improve patient outcomes while strengthening supply chain resilience.
“With Ontario’s health-care system facing growing demand and rapid technological change, there is a clear opportunity to adopt made-in-Ontario innovations that improve patient care and strengthen system resilience. Through investments that help companies scale their medical technologies, we are accelerating the adoption of innovative solutions that improve outcomes and support more timely, convenient care across the province,” said Sylvia Jones, Deputy Premier and Minister of Health.
The Waterloo Region, long known for its technology ecosystem, has emerged as a key centre for life sciences growth, supported by local research institutions, skilled graduates and innovation hubs.
“Waterloo Region continues to prove that we are a global leader in life sciences innovation. Through the Life Sciences Scale-Up Fund, our government is helping local companies like Intellijoint Surgical and Vena Medical grow and expand so that more patients can receive the latest in innovative treatments that are made right here at home,” said Mike Harris, MPP for Kitchener-Conestoga.
Local leaders say scaling companies domestically is critical to retaining talent and economic benefits.
“We have world-class talent here in Waterloo Region, and companies like Intellijoint Surgical and Vena Medical are proof of that. When we help them scale here at home, we’re keeping high-quality jobs in our community and building the kind of health innovation capacity Ontario should be known for,” said Jess Dixon, MPP for Kitchener South-Hespeler.
Kitchener Mayor Berry Vrbanovic said the investment reinforces the city’s role as a national leader in medical technology.
“Kitchener is proud to be home to the greatest concentration of medtech and digital health scale-ups in the country. Organizations like the Medical Innovation Xchange (MIX) and innovative companies like Intellijoint Surgical and Vena Medical are shaping the future of Ontario’s economy. Investments like the Life Sciences Scale Up Fund ensure that groundbreaking ideas can be developed, commercialized, and scaled right here at home—strengthening our local economy while keeping Ontario globally competitive. Thank you to Premier Ford, Minister Fedeli and the Province of Ontario for their vision and partnership in supporting local and protecting Ontario’s economy,” he said.
Industry leaders say such funding is essential to ensuring homegrown innovations remain in Canada.
“Today’s announcement is a major milestone for the provincial medtech ecosystem and a testament to the power of domestic scaling. By investing in companies like Intellijoint Surgical and Vena Medical through the Life Sciences Scale-Up Fund, the Ontario government is ensuring that the world-class innovations born in our backyard can actually grow, manufacture, and stay here in Ontario. MIX is proud to see this commitment to domestic capacity, which will ultimately get these life-saving, home-grown technologies into our health system faster to improve patient care across the province. MIX is proud to support them, and many more companies in their growth in Ontario,” said Elliot Fung, Executive Director, Medical Innovation Xchange.
Ontario’s life sciences sector employs more than 74,000 people across nearly 2,000 companies, with annual exports exceeding $11.8 billion. Since 2018, the province has attracted more than $6 billion in investments, underscoring its growing role in global health innovation.