Centre for Aging + Brain Health Innovation announces flagship partnership with MaRS EXCITE to accelerate adoption of new health technologies in the seniors’ care sector
TORONTO, Ontario, September 28, 2017 – The Centre for Aging + Brain Health Innovation (CABHI) and MaRS Excellence in Clinical Innovation and Technology Evaluation (EXCITE) announced today their first partnership dedicated to accelerating the adoption of new health technologies in the seniors’ care sector in Ontario.
This collaboration will enable improved coordination between CABHI and MaRS EXCITE when working with applicant companies, and is designed to help innovators drive commercialization, procurement and adoption of their promising solutions in aging and brain health.
“Ontario has a tremendous opportunity to improve seniors’ health by accelerating the adoption of innovative technologies and processes across the health system,” said William Charnetski, Ontario’s Chief Health Innovation Strategist. “The strategic collaboration between CABHI and EXCITE will provide innovators with a single point of access to expertise, funding and pathways to build out their solutions, scale companies and ultimately create jobs in Ontario.”
Through this new partnership, applicants to either CABHI’s Industry Innovation Partnership Program or the MaRS EXCITE Program may be provided with an opportunity to leverage CABHI funding and its national seniors care network to test and validate their solutions. Through MaRS EXCITE, successful applicants can connect with relevant health system stakeholders in Ontario to access adoption opportunities that promote wide-scale uptake of their innovation in the healthcare system.
“CABHI is a key facilitator of collaborations among innovators, healthcare providers, private and public sector partners, government and consumers. This partnership will help to enhance commercialization opportunities that will pave the way for more independent living for Ontario’s seniors.” says Dr. William Reichman, President and CEO of Baycrest Health Sciences.
“This partnership between MaRS EXCITE and CABHI will encourage the commercialization and adoption of new technologies in the seniors’ care sector, supporting our innovation economy and improving the lives of people across the province,” says Reza Moridi, Minister of Research, Innovation and Science.
“EXCITE was launched to streamline the pathway to health technology adoption,” said Shahira Bhimani, Director, MaRS EXCITE. “This strategic collaboration aligns EXCITE’s unique processes with funding opportunities that target evidence generation that avail through CABHI. It is an optimal partnership that will expedite access of innovative solutions for patients within the aging and brain health sector.”
The Centre for Aging + Brain Health Innovation (CABHI) is a solution accelerator for the aging and brain health sector, providing funding and support to innovators for the development, testing, and dissemination of new ideas and technologies that address unmet brain health and seniors’ care needs. Established in 2015, it is the result of the largest investment in brain health and aging in Canadian history. CABHI is a unique collaboration of health care, science, industry, not-for-profit and government partners whose aim is to help improve quality of life for the world’s aging population, allowing older adults to age safely in the setting of their choice while maintaining their cognitive, emotional, and physical well-being. For more information on CABHI, please visit: www.cabhi.com.
Baycrest Health Sciences is a global leader in geriatric residential living, healthcare, research, innovation and education, with a special focus on brain health and aging. Fully affiliated with the University of Toronto, Baycrest provides excellent care for older adults combined with an extensive clinical training program for the next generation of healthcare professionals and one of the world’s top research institutes in cognitive neuroscience, the Rotman Research Institute. Baycrest is home to the federally and provincially-funded Centre for Aging and Brain Health Innovation, a solution accelerator focused on driving innovation in the aging and brain health sector, and is the developer of Cogniciti — a free online memory assessment for Canadians 40+ who are concerned about their memory. Through its dedicated centres, the organization offers unmatched global knowledge exchange and commercialization capacity. Founded in 1918 as the Jewish Home for Aged, Baycrest continues to embrace the long-standing tradition of all great Jewish healthcare institutions to improve the well-being of people in their local communities and around the globe. For more information please visit: www.baycrest.org.
MaRS Excellence in Clinical Innovation and Technology Evaluation (EXCITE) is an evaluation platform that accelerates the adoption of breakthrough medical technologies by prioritizing only the best, most cost-effective technologies and helping them to obtain the evidence they need for federal licensing and provincial health system adoption. Additionally, EXCITE’s vast network into the US and European health systems enables a more synergistic approach to design and implementation of a multi-market access strategy for innovative health technologies.
EXCITE helps these technologies navigate the system and get to market—and to patients—faster by providing:
- an early indication of fit with the healthcare system;
- evidence in time to make technology improvements; and
- harmonized studies that support regulatory licensing and adoption decisions.
EXCITE is made possible through province-wide collaboration and leadership. Key stakeholders comprising EXCITE’s Management Board include research hospitals (Council of Academic Hospitals of Ontario), healthcare delivery organizations (Sunnybrook Health Sciences Centre, Saint Elizabeth Health Care), the provincial government (MOHLTC; OCHIS; Ministry of Research, Innovation and Science; Ministry of Economic Development and Growth), the Ministry’s advisory support on quality healthcare (Health Quality Ontario), industry (MEDEC, Boston Scientific) and MaRS.