Synaptive Announces a $40 Million Investment from Export Development Canada (EDC) to Accelerate Surgical, Imaging and Data Technologies
TORONTO, CA, March 13, 2023 – Synaptive Medical Inc., a global medical technology innovator in Canada, secured a USD $40 million investment from Export Development Canada (EDC), Canada’s export credit agency. EDC leads a USD $50 million financing round to accelerate Synaptive’s proprietary innovative portfolio.
The commitment from EDC will boost Synaptive’s development and commercial capabilities while expanding clinician access to the company’s fully integrated technologies. This partnership is aligned with the mission of EDC’s Mid-Market Growth Business to help accelerate the expansion of leading mid-market Canadian technology companies that are positioned to advance Canada’s international competitiveness in global markets.
“Synaptive is a high-growth, innovative company offering cutting-edge healthcare products and solutions. Their highly disruptive, market leading technology enables improved patient outcomes while providing compelling benefits for all healthcare system stakeholders,” said Guillermo Freire, Senior Vice-President, Mid-Market Group, EDC. “EDC is highly focused on supporting emerging global champions in critical sectors of the future. By investing in Synaptive, EDC is backing the accelerated adoption of important technologies which advance the cause of human well-being internationally.”
Developed and manufactured in Canada, the company’s products include a surgical digital robotic exoscope, integrative data platforms and comprehensive imaging technology. Synaptive’s devices are connecting clinicians in operating rooms across mid-field MRI, surgical planning and surgical visualization platforms.
Synaptive’s fully integrated surgical suite includes ModusTM V, ModusTM Nav, ModusTM Plan, and mid-field MRI. Each product automates critical patient data through every step of surgical intervention. ModusTM V, a robotic exoscope, seamlessly combines optics and video processing breakthroughs for a revamped surgical operating experience. Additionally, Synaptive’s mid-field MRI supports faster and earlier detection of neurological deficits.
“We are very happy to have EDC as a key part of the Synaptive team”, said Cameron Piron, President and Co-founder of Synaptive Medical. “This investment allows us to expand rapidly and is well timed with our most exciting product releases to date. Our shared vision and purpose are to provide our industry leading and patient focused technologies to as many people as we can globally.”
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger, and sustainable economy for all Canadians.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
About Synaptive Medical Inc.
Synaptive Medical Inc., a Toronto based, high-growth global medical technology company, solves surgical, imaging, and data challenges to improve the quality of human lives. Synaptive’s integrated suite of products — bridging MRI, surgical planning, navigation, and robotic visualization — delivers patient-centric information with automated efficiency across all stages of clinical interventions.
We can help you understand our products, offerings, and build a business case for your institution, call us at 1-844-462-7246 or visit www.synaptivemedical.com
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