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Highest educational attainment in the OECD.
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Generous incentives for R&D.
Part of the $20-trillion NAFTA market.
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Ontario's medtech industry is already producing innovative technologies that range from creating advanced devices that give sight to the blind to intricate computer systems that track dangerous pathogens like Ebola. We have generous R&D tax credits, a deep pool of highly educated talent, and an innovation ecosystem comprised of world-leading research facilities, academic institutions, private enterprise and government. If you have life-changing ideas in medical technology, Ontario is your destination for innovation.
Ontario's medical technology industry is vibrant, diverse and expanding – with start-ups, multinationals, research institutes and clinics all backed by a supportive government.
The medtech sector in Ontario boasts an impressive and steadily growing diversity of companies in terms of size, focus, product, and maturity level with all of them benefitting from the open collaboration that happens here within technology clusters.
There are already 24,000 people working in this sector at some 1,300 companies that collectively earn $12.2 billion in revenues annually, with exports totalling $1.7 billion.
Medtech firms of all sizes have already discovered what Ontario has to offer their businesses: skilled talent, competitive incentives, a solid economy, a collaborative and innovative environment, dynamic industry clusters, and access to the $20-trillion NAFTA market. We make it easy for you to come and plug into our innovation ecosystem – just like these leading companies have done:
Xagenic, an Ontario start-up success story, is an example of how Ontario's environment of innovation has taken research outcomes from bench to bedside, enabling the company to access a potential market of more than $2.5 billion.
Teledyne DALSA is an international leader in digital imaging and semiconductors, with about 1,000 employees worldwide. Based in Waterloo, they develop, manufacture and market digital imaging products, technologies and sensors with core competencies in specialized integrated circuit and electronics technology, software, and highly engineered semiconductor wafer processing.
Medtronic, with headquarters in Brampton, Ontario, was ranked one of Canada's Top 100 Employers as well as one of Canada's Best Large Workplaces in 2014. This firm is a global leader in medical technology, focusing on advanced solutions to alleviate pain, restore health, and extend life in the areas of cardiovascular medicine, diabetes, spinal and neurosurgery, and ear, nose and throat surgery.
In October 2014, just over a year after relocating their head office to Markham, Ontario, Toshiba of Canada Ltd. developed and launched an impressive new Medical Systems Training Center furnished with advanced educational tools and equipment. Toshiba Medical Systems Corp. is a leading worldwide provider of medical diagnostic imaging systems and comprehensive medical solutions, including CT, X-Ray, Ultrasound and MRI systems. The new training centre includes a demonstration area that uses Toshiba's Infinix-i cardiovascular imaging technology to facilitate presentations, demonstrations, clinical and technical support, and learning opportunities for clinicians, biomedical engineers and technologists.
Toshiba has developed strategic global partnerships with world-renowned research institutes here in Ontario. Most recently, they announced a ground-breaking imaging platform with the University Health Network's Joint Department of Medical Imaging and the Peter Munk Cardiac Centre, Canada's premier cardiac centre.
Featuring twin, state-of-the-art Toshiba CT scanners in an integrated layout, this novel platform enables viewing of highly detailed images of the heart and all other body areas to help medical professionals detect disease faster and pinpoint more precise treatment plans. Unveiled at the Toronto General Hospital, this platform helps clinicians to expedite the transfer of research findings from one CT scanner into clinical use on the other, enabling the earlier identification of heart disease and other serious illnesses. This improves patient care and supports quicker translation into clinical practice. In addition, the advanced imaging and analysis provided through this platform will result in earlier diagnosis and treatment of disease, leading to improved patient care and resource utilization.
Experts believe Ontario will continue to host the largest concentration of medical device and biotechnology firms in Canada. Most Canadian medtech companies are already here, and the province has a well-earned reputation for supporting international businesses looking to expand or relocate.
Ontario possesses a wealth of capabilities to support the development of a robust medtech sector. The environment of collaboration here is second to none, and has resulted in transformative initiatives like the EXCITE program. Medtech innovators in Ontario not only improve patient outcomes for Canadian and international citizens, they're highly trained, have access to world-class R&D resources, and are equipped to tap into the medtech markets in Canada and worldwide.
- Brian Lewis, President and CEO, MEDEC
Ontario medical technology firms are conceiving, successfully commercializing and selling their technologies domestically and globally, transforming health care at both the patient and systemic level.
Here are a few examples of what progress in medical technology looks like in Ontario:
There is incredible potential to expand your business in Ontario. Other promising sub-sectors include telemedicine, electronic health records (EHR), integrated health solutions, and data analytics. If growth and innovation are in your long-term business plans, you need to be here.
In November 2014, Siemens announced it had established its first Canadian training centre for magnetic resonance imaging (MRI) in partnership with the Joint Department of Medical Imaging (JDMI) at the University of Toronto. Located in the Medical Imaging Department at Toronto General Hospital, the centre offers its Canadian customers the opportunity to benefit from MRI training locally and more frequently. With the largest installed base in Canada – approximately 170 MRI scanners across the country – and five dedicated MRI application specialists in Canada, Siemens was well-positioned to open a centre of this kind.
Ontario boasts an ample supply of exceptionally qualified workers to meet the medtech sector’s growing demand. Thanks to its long-range focus on education and research, Ontario has one of the most highly educated populations in the world.
Business leaders in other parts of the world lament the shortage of workers trained in the science, technology, engineering and math (STEM) fields, but not in Ontario.
Our 44 universities and colleges produce more than 40,000 skilled STEM graduates every year.
Our business costs are low. In Ontario, competitive tax rates and generous R&D credits promote innovation and keep medical technology industry clusters dynamic.
Ontario medtech companies benefit from the lowest medical devices manufacturing and biomedical R&D costs among the G7 countries – lower than in the U.S., United Kingdom, France, Germany, Italy, or Japan, according to KPMG's Competitive Alternatives 2016.
In fact, according to KPMG, our overall business costs are the lowest in the G7.
Companies in Ontario can also benefit from competitive tax credits and funding programs, such as:
Find out more about incentive programs and services offered in Ontario.
See a comprehensive list of Ontario incentive programs and services.
Select the best description of your operation to see possible after-tax savings you could achieve in on your R&D expenditures in Ontario.
Small and medium-sized manufacturers
Small and medium-sized non-manufacturers
Small Canadian-controlled private corporations
Public, private or foreign-owned
* The information provided here presents a potential after-tax cost based on assumptions regarding R&D expenditures, tax incentives and tax rates that may not apply to your business. This information does not constitute tax advice. Please consult your tax advisor to determine the after-tax cost of R&D expenditures for your business.
Brilliant researchers can conceive life-changing innovations – but these may never reach consumers if they aren't successfully commercialized. Ontario tackles this challenge head-on by ensuring its academic community works closely with industry to help commercialize research and grow successful businesses.
The open environment supporting collaboration between business and research in Ontario has spawned successful, marketable biotechnology initiatives in a range of sectors. More than a dozen research partnership programs and grants are available here, including the National Research Council of Canada's Industrial Research Assistance Program (IRAP), the Natural Sciences and Engineering Research Council of Canada's Idea-to-Innovation Grant, and the Ontario Centres of Excellence industry-academic collaboration and commercialization programs.
Sunnybrook Research Institute works closely with the University of Toronto to commercialize research, licensing technologies from both major multinationals and start-ups. Research at Sunnybrook has resulted in the creation of more than a dozen imaging companies as well as two acquisitions.
Ontario's environment of collaboration benefits investors by making it easier for them to find and harness the resources they need to move their research through all stages of development to commercialization and growth.
….is good for the firms that supply them.
Major original equipment manufacturers (OEMs) with a presence in Ontario, like Siemens, Toshiba, Hitachi, Philips and GE Healthcare, provide an established and expanding market for the province's abundance of smaller and midsize software and hardware suppliers, and are a key part of the medtech ecosystem here.
Ontario firms are at the heart of all things medtech in Canada. Nearly half of Canadian medtech companies are based in Ontario, and they produce an extraordinary variety of products designed to meet an array of health care needs, from medical imaging to diagnostics, surgery and other procedures spanning the full spectrum of medical specialties. Many of these hundreds of firms, specializing in an endless variety of products, have found markets among the industry giants – and you can, too!
Ontario is keenly interested in the growth and prosperity of medtech firms in the province – so it has been proactive about initiating and cultivating programs designed to benefit firms of all sizes and maturity levels in this sector.
In addition to companies and research institutes, our diverse medtech ecosystem includes start-up incubators, university industry research centres, commercialization networks, investors and new media services, all available to help take your company to the next level.
Firms that set up in Ontario can join major medtech influencers. For example:
Bringing precision to orthopaedic surgery
Advancing innovation in Ontario with IBM Watson
Bayer and Versant bet big on centre for regenerative medicine
Shifting the way physicians engage patients
Spartan Bioscience: Creating the world's smallest molecular diagnostics device
Intercept Pharmaceuticals brings innovative firm back home to Ontario
Global specialty biopharma leader joins the biotech ecosystem of Ontario, Canada
Synaptive Medical: The Google Maps of Brain Surgery
Three ways disruptive technology is combatting memory loss
University of Toronto scientists lead the world in 'Heart-on-a-Chip' technology
Biotech firm leverages Ontario talent for global success
Perimeter Medical Imaging sets new gold standard in intraoperative imaging
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