Ontario is investing up to $5 million in Toronto-based Think Research to help the company expand its platform.
The money is coming from the Ontario government’s Jobs and Prosperity Fund, which was also responsible for investing $22.75 million in IBM’s Innovation Incubator Project. Every dollar invested through the fund leverages an average of $10 in private sector investments. Since January 2013, Ontario invested in 32 projects with government commitments totalling over $650 million, leveraging over $6.8 billion in private sector investment.
Think Research’s products allow clinicians to see what others are doing, share time-sensitive information, and communicate on treatment options and plans for patients. The software is used by over 1,000 facilities in Canada, the US, and Europe.
“Supporting innovative and forward-thinking companies like Think Research is what the Jobs and Prosperity Fund is all about,” said Brad Duguid, Minister of Economic Development and Growth. “This strategic partnership will help the company make an even greater impact on our health care system, while accelerating the growth of Ontario’s economy and creating high-value jobs in the province.”
Think Research says that this investment will create 228 new jobs and retain 130 positions in the city.
“We are pleased to partner with the Ontario government on this exciting initiative as we transform our software solutions,” said Saurabh Mukhi, CTO of Think Research. “With this investment, we will continue to solve modern medical challenges to better serve our customers, so they can provide high quality care and improve the lives of patients here in Ontario and around the world.”
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