Synaptive Medical Welcomes Provincial Investment to Expand Manufacturing and R&D Activities

TORONTO, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Synaptive Medical has received $900,000 in support from the Ontario government through the Ontario Together Fund. This funding will support Synaptive Medical’s $2.8 million project to expand manufacturing and research and development activities related to the company’s head-only Magnetic Resonance Imaging (MRI) system. The Synaptive MRI is a 0.5T system that was designed to overcome challenges such as accessibility in critical and acute cases like brain tumour and stroke, enabling healthcare professionals to make accurate cranial diagnoses in time-sensitive cases.

The Ontario Together Fund is a government initiative to support homegrown manufacturing and innovation and grow Ontario’s life sciences sector. This is the second project Synaptive Medical has received funding for through the Ontario Together Fund. In July 2021, the company received $153,300 for a $204,400 project to develop a prototype drape to shield medical imaging machines from patient contamination.

“As a company founded and headquartered in Ontario, we are committed to helping to improve the health of Ontarians through our on-going development of innovative technology,” said Cameron Piron, President, Synaptive Medical. “We are a team of people with an insatiable curiosity and a relentless passion for pushing at the boundaries of what is possible in healthcare technology. To have received recognition for our innovation through the Ontario Together Fund is testament to the whole Synaptive team and our mission to provide advanced MRI technology to patients and caregivers when they need it the most.”

“Through the Ontario Together Fund, our government continues to grow Ontario's life sciences sector and help businesses bring their ideas to market,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “This funding will help Synaptive Medical continue to innovate as they help make Ontario home to the next generation of medical technology solutions.”

“With this MRI, healthcare professionals in Canada now have the ability to more broadly provide point-of-care diagnostics for patients in a variety of urgent settings,” continued Cameron Piron. “As with our entire suite of surgical and diagnostic products, our goal is to provide surgeons and healthcare systems with state-of-the art tools that maximize their ability to deliver optimal care for patients.”

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Contact for journalists:
Alastair Harris-Cartwright
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About Synaptive Medical Inc.

Synaptive Medical Inc., a Toronto-based, high growth global medical technology company, solves surgical, imaging, and data challenges to improve the quality of human lives. Synaptive’s integrated suite of products – bridging MRI, surgical planning, navigation, and robotic visualization – delivers patient-centric information with automated efficiency across all stages of clinical interventions.

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