Ontario is a growing force in medical technology research, and now the provincial government wants to bolster the sector further. Last month Queen's Park launched the new Ontario Health Innovation Council to help support the commercialization of medical innovations and new technologies. The council's task: identify growth opportunities and strategies for market-oriented development.
The council is specifically focused on small- and medium-sized businesses, and has a mandate to create the conditions for job growth in this sector.
The provincial government estimates that Ontario's health technology sector generates $9.1 billion a year. In job terms, the medical devices sector employs more than 17,000—49 per cent of the total nationwide.
The 15 council members represent academic institutions, hospitals, private companies, and non-profits. (Toronto-based members include the heads of the Centre for Addiction and Mental Health, MaRS Innovation, UofT's Institute for Health Policy, and the University Health Network.)
Deb Matthews, Minister of Health and Long-Term Care, said via a written statement that, "Ontario’s capacity to provide the best care and get value for our precious health dollars depends on harnessing our strengths in health research and innovation. The Ontario Health Innovation Council will help us improve the quality of care while creating valuable new jobs."
Catherine Zahn, president of CAMH, echoed those sentiments in her own comments, writing that "OHIC is an opportunity to ‘think big’ and broadly about health innovation in Ontario and make it real for patients, people and communities.”
The council's members will be looking at a range of issues beyond commercialization, too. They'll be examining ways to lower health care costs in the province, and try to focus on new ways to improve patient care.
Writer: Hamutal Dotan
Source: Ministry of Health and Long-Term Care
Photo: Courtesy of the University Health Network.