Kitchener Health Tech Gets $5.8M, Creates 60 Jobs

Two Kitchener companies are about to supercharge their life-saving medical technologies with a $5.8 million boost from Ontario's government.

Intellijoint Surgical and Vena Medical, both located on Wellington Street near the expressway, received the combined funding Wednesday from Minister Vic Fedeli. The investment will support nearly 60 jobs total, including 16 brand new positions in the region's thriving health technology sector.

Intellijoint Surgical landed $1.3 million to revolutionize how they manufacture hip and knee joint replacements. The company plans to use AI and automation to streamline everything from sales to production, helping more patients get the joint replacements they need faster.

"This funding strengthens Intellijoint's ability to innovate, create high quality jobs in Kitchener, and build a globally competitive business," said Armen Bakirtzian, the company's co-founder and CEO.

The bigger chunk, $4.5 million, goes to Vena Medical for something even more cutting edge. They're building a new facility to manufacture an AI-powered micro-camera so tiny and precise it helps doctors treat stroke patients during critical interventions.

"Our team has engineered a highly complex, microscopic medical device, and now we have the state-of-the-art cleanroom and manufacturing infrastructure to build it at scale," said Phillip Cooper, Vena Medical's co-founder and COO. The company is ready to export this Kitchener-Waterloo innovation worldwide.

The Ripple Effect

This funding comes from Ontario's Life Sciences Scale-Up Fund, designed specifically to help promising health tech companies grow from startups into global players. When these companies succeed, they don't just create local jobs. They develop medical technologies that improve patient outcomes around the world.

The 16 new positions mean 16 more families with stable careers in cutting-edge fields. The AI innovations these teams are developing could help surgeons perform better joint replacements and give stroke patients better chances at recovery.

Kitchener-Waterloo has quietly become a powerhouse for health technology innovation, and investments like this help cement that reputation. When governments back local innovators with real funding, communities get both economic growth and solutions to global health challenges.

Two homegrown companies are about to help patients worldwide while creating opportunity right at home.