Karos wins funding from Ontario government
WATERLOO, Ont. – Karos Health has received $500,000 in funding from Ontario’s Investment Accelerator Fund (IAF) to advance the development and deployment of Rialto, its platform for clinical information exchange and storage.
Funded by the Province of Ontario Ministry of Research and Innovation, the IAF is a seed fund that assists emerging Ontario technology companies to bring their products and services to market.
The fund provides a comprehensive platform of resources, people, connections and funding that entrepreneurs and innovators can access to launch their new ventures. The IAF program is managed by MaRS and delivered through the Ontario Network of Excellence (ONE), a collaborative network of organizations across Ontario, designed to help commercialize ideas.
Customer demand continues to grow for open-standards based solutions that enable clinical information exchange between healthcare providers. Karos’ Rialto products provide the key components required to support clinical information exchange and storage networks, and solve real cross enterprise workflow problems in healthcare.
“We’re proud of Ontario’s creative environment,” said Glen Murray, Ontario’s Minister of Research and Innovation. “Our highly skilled workforce, world-class education system and internationally recognized research community are all second to none. Our government invests in innovative companies like Karos Health so that our province’s best ideas can flourish, create jobs and improve the lives of Ontarians, now and in the future.”
“With this contribution we can accelerate the growth of our organization, positioning us optimally for the opportunities in the Healthcare IT market. Receiving a contribution from IAF demonstrates we have a solid business plan and we are on the right track to implement it,” says Rick Stroobosscher, President of Karos Health. “We are excited about the recognition we are receiving from IAF, our customers and a growing list of partners.” he added.
About Karos Health
Karos Health is focused on elevating the quality of patient care by enabling the sharing and storing of clinical information. Karos’ Rialto platform empowers healthcare enterprises to enable cross community access to information, facilitating collaboration between healthcare providers and patients. Rialto is based on open standards that ensure safe and secure handling of patient health information and is backed by a team with decades of experience in healthcare interoperability. For more information about Karos, visit www.karoshealth.com.
Posted August 11, 2011