Clarius Mobile receives $3.3M from federal government

VANCOUVER – The federal government announced almost $14 million in PacifiCan funding to help seven Vancouver-based businesses and organizations in British Columbia grow even faster. The funding announced today includes over $11.5 million for four companies through PacifiCan’s Business Scale-Up and Productivity program and over $2.4 million for three companies through its Jobs and Growth Fund.

Minister Ng made the announcement at Clarius Mobile Health in Vancouver, a medical device company receiving over $3.3 million in PacifiCan funding. This investment will help Clarius accelerate export sales of its wireless handheld ultrasound devices, designed for point-of-care use by medical professionals. Point-of-care testing is performed outside a laboratory to allow for quicker results and decisions during a patient’s appointment.

Clarius’ ultrasound technology connects to electronic devices such as smartphones and tablets, allowing clinicians access to medical imaging in real time, which can improve patient care and reduce health care costs. PacifiCan’s investment will allow Clarius to implement new sales models in international markets, creating 77 jobs.

Clarius’ business potential was recognized by PacifiCan in 2022 with a $2.4 million investment to support expansion internationally by registering its device in 10 new markets and growing distribution partnerships.

Subsequently, in July 2023, with input from an independent selection panel, Clarius was announced as one of the firms included in the Global Hypergrowth Project – a whole-of-government initiative which helps high-potential Canadian firms to scale and become anchor firms in Canada.

“I am grateful for the support from PacifiCan which will significantly bolster Clarius Mobile Health’s mission to globalize point-of-care ultrasounds. This investment comes at a pivotal moment for us, as we’ve established global reach and are accelerating growth into key international markets,” said Ohad Orazi (pictured), CEO and president, Clarius Mobile Health.

He added, “With this funding, we will scale our efforts to provide cutting-edge ultrasound technology to medical professionals worldwide. We extend our heartfelt thanks to PacifiCan for their unwavering belief in our vision and their commitment to driving innovation and economic growth in British Columbia.”

The global ultrasound equipment market is expected to grow from $6.52B US in 2021 to $9.2B US by 2028, a cumulative annual growth rate of 5.9%.

PacifiCan is the federal economic development agency dedicated to British Columbians. PacifiCan works with partners who are building innovative businesses, creating quality jobs, and supporting inclusive growth throughout our province.

The Business Scale-up and Productivity program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.

The Jobs and Growth Fund helps job creators, and the organizations that support them, to future-proof their businesses. This includes building resiliency and growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs across British Columbia.

The Global Hypergrowth Project brings together the combined strength of government partners to help tailor support to each participating company’s specific needs, offering solutions that are as unique as the companies themselves.

SOURCE: Pacific Economic Development Canada