An agreement signed between Oslo Medtech and MaRS opens markets for Norwegian companies to sell their technologies directly into hospitals and elderly care facilities in Canada. This global growth project will assist Norwegian medtech companies in approaching the Canadian healthcare market.
During the visit of Crown Prince Haakon and Crown Princess Mette-Marit to Canada in November 2016, an agreement was signed between Oslo Medtech and MaRS to help Norwegian medical innovators explore market opportunities in Canada, as well as vice versa. MaRS is a corporation and innovation hub in Canada whose goal is to commercialize research and technology across diverse sectors and is an excellent collaborative partner for the Norwegian SMEs involved in medtech.
The healthcare sector in Canada is similar in structure to Norway, and both systems have inherent challenges and opportunities, in principle making technologies and practices translatable. This agreement between the nations shows that there is confidence in growing this commercial relationship. This opens greater opportunities for Norwegian companies to sell their technologies directly into hospitals and elderly care facilities in Canada. Hospitals in Canada, similar to Norway, are moving towards automation, optimizing daily workload, and technology to aid in diagnostics and patient care in order to face increasing pressure to decrease personnel costs.
Crown Prince Haakon noted that Norwegian companies find comfort in Canada’s societal values, which are similar to Norway’s, and its shared geography, and that Norwegian startups can find a good fit to start their business in Canada.
This global growth project will assist Norwegian medtech companies in approaching the Canadian healthcare market, and will include a 3-day “Entering the Canadian Market” program to the delegates. This will include gaining the fundamentals in entering the Canadian health market and meeting with key industry players including, end users, regulatory framework, funding organizations, and research entities.
Foto: Tom Hansen