Toronto-based health technology firm, PointClickCare, has partnered with American company PatientPay to assist health-care facilities in improving payment efficiency. Through this integration, facilities using PointClickCare’s software can now access PatientPay’s technology, allowing them to manage payments on a single platform and utilize PatientPay’s payment tools.
AbCellera denies allegations of patent infringement
Vancouver-based biotech company, AbCellera, is refuting claims of patent infringement and breach of agreement by the estate of John William Schrader. The lawsuit, filed in October, accuses AbCellera and CEO Carl Hansen of causing damages and loss. AbCellera denies these allegations.
Government-funded program bridges talent gap in the tech industry
A program called Advanced Digital and Professional Training (ADaPT), funded by the Government of Canada’s Future Skills Centre, aims to address the talent gap in the tech industry by removing barriers for equity-deserving groups. The program offers cost-free digital and professional skills development to students in their final semester and post-secondary graduates, exposing them to tech career pathways. ADaPT is led by the Diversity Institute in collaboration with TECHNATION Canada.
ResolvMD secures $2 million loan for strategic acquisitions
Calgary healthtech startup ResolvMD has received a $2 million loan from Toronto-based private credit firm PaceZero Capital Partners. ResolvMD, which provides software to simplify and streamline medical billing processes for physicians, plans to utilize the funding for product development and growth opportunities across Alberta.
Healthcare software firm Waystar eyes $8 billion valuation in IPO
Healthcare software company Waystar has reportedly tapped banks for an initial public offering (IPO) that could value the company at up to $8 billion. Waystar provides software to help hospitals and doctors’ practices manage their finances. The IPO is expected to take place later this year or early next year, pending market conditions.
OBIO offers grants to women-led health science companies
The Ontario Bioscience Innovation Organization (OBIO) has launched a call for applications for its Women in Health Initiative, which offers grant funding of up to $20,000 CAD to women-led companies in the health sciences sector. The initiative aims to train women and support their participation and success in the health sciences industry.
Truepill authorize price cut as Garry Tan departs board
Startup Truepill, known for shipping prescription drugs on behalf of online pharmacies, has authorized a significant price reduction for some of its shares, cutting prices by over 90% from their peak in 2021. The company was previously valued at $1.6 billion.
Founders share startup growth tips
In a CIBC Innovation Banking video series, leaders from companies such as Bridgit, 7Shifts, Jane App, and Bloomerang shared key lessons that helped them scale their startups. While each startup journey is unique, insights from successful founders can provide valuable guidance for other founders.
Questa Capital raises $397 million for health technology investments
Healthcare-focused venture firm Questa Capital Management has closed a $397 million venture growth equity fund called Questa Capital III. The company plans to use the funding to invest in early-stage companies in the healthcare services, medical device, and technology sectors.
Canadian tech sector experiences second-largest Q2 for venture capital funding
Despite challenging economic conditions, the Canadian tech sector achieved its second-largest second quarter on record for venture capital funding. According to the Canadian Venture Capital and Private Equity Association (CVCA), $2.8 billion CAD was invested in Canadian tech startups across 170 deals in Q2. This represents a 140% increase in dollars invested compared to the previous quarter.
AI biotech company Genesis raises $200 million for drug discovery
AI drug discovery startup Genesis has raised $200 million in a Series B funding round, bringing its total funding to $280 million. The company plans to invest in developing novel AI methods and leverage its molecular AI platform, Genesis Exploration of Molecular Space (GEMS), to explore challenging drug targets.
Firehood and Elevate unveil first cohort of women entrepreneurs
Angel network The Firehood and nonprofit organization Elevate have announced the 37 startups participating in the first cohort of the Women+ Entrepreneur Incubator. This joint incubator aims to support and empower women entrepreneurs in the technology sector.
Altis Labs collaborates with Bayer and AstraZeneca on “digital twins” for clinical trials
Canadian computational imaging company Altis Labs is leading an international project, with the participation of drug giants AstraZeneca and Bayer, to advance the use of “digital twins” in clinical trials. Digital twins are simulations that help developers and clinicians understand how patients and therapies may perform in real-life scenarios.
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