e-Health Innovation Makes Canada the Ideal Choice for Agfa HealthCare
Agfa HealthCare, major multinational firm has chosen Canada as a site for reinvestment and expansion. As a leading developer of systems that provide IT-enabled solutions to manage clinical workflow and diagnostics images, Agfa's recent $170 million investment in its Ontario operations is more than a bright spot within the darkened global economy.
Agfa HealthCare strives to transition healthcare facilities from analog to digital environments to lay the IT foundation that can connect departments, health regions and provinces across the country. Through this, Agfa HealthCare solutions support centralized access and distribution of health data and digital images that can then be accessed by authorized medical professionals who need the information to make more informed patient care choices. IT solutions developed and implemented by Agfa HealthCare work across departments and enterprises to integrate information and streamline the workflows and operations of hospitals, imaging centers and other healthcare facilities, enabling a more productive and efficient healthcare offering.
Agfa HealthCare delivers imaging and IT solutions across the continuum of care, including advanced solutions for Cardiology, Radiology, Orthopaedics, Mammography, Trauma and Paediatric departments, in addition to a full suite of enterprise IT solutions for facilities of varying sizes.
It is part of the Agfa-Gevaert Group which has a 40 year history in Canada. The company's decision to invest in operations in Toronto and Waterloo is supported by a $29.6 million grant from the province of Ontario and reflects the company's ongoing commitment to a priority shared by the province and the government of Canada: advancing the state of the art in healthcare services through constant innovation in technology and process. "This is an exciting moment in our long history in Canada and signals a continued dedication to our customers in terms of research and development," says Michael Green, President and CEO of Agfa HealthCare's North American Region. "The support from government allows us to accelerate our growth plans and bring our new technology to market, as well as anchor our investment here in Ontario."
A major Transformation In HealthCare
Faced with an aging, rapidly growing population and increased demand for faster and more efficient services from its national healthcare system, the Canadian government established Canada Health Infoway with the mandate to accelerate the implementation and use of reliable and secure health information systems across the country. Funded by the federal government, Infoway works with all provinces and territories to implement secure electronic health record systems to benefit all Canadian residents. Agfa HealthCare provides the tools needed to realize such e-health goals, and effectively use information communication technologies to improve the quality and delivery of health care locally and nationally.
Expanding Development of e-Health Systems
Agfa Healthcare's latest investment will create 100 new jobs and secure 276 existing jobs, including those in software and services related to the company's e-Health, Regional Health and Digital Imaging solutions. The company's Waterloo office will also strengthen its position as one of the Agfa HealthCare's primary research and development (R&D) facilities, enhancing the company's Picture Archiving and Communication System (PACS) called IMPAX and other sophisticated software for healthcare facilities worldwide.
The company's choice of Waterloo as a site for expansion highlights the area's growing ability to attract and sustain global hi-tech investment. The company's relationship with several nearby post-secondary institutions, including Conestoga College and the renowned University of Waterloo, is a key factor.
The Waterloo region's significant competitive advantages have drawn world-class companies from RIM and Microsoft to Toyota - that tap into the extensive talent pool and R&D resources, and propel the area's global reputation as a center for knowledge-sector entrepreneurship. Agfa HealthCare's Director of External Collaborations, Jeff Nesbitt, himself a graduate of both Conestoga College and University of Waterloo, concurs: "The Waterloo community has tremendous entrepreneurial spirit. Community support played a major role in the decision to reinvest and expand. The shift from old-world manufacturing to the creative class is embraced here and the kind of exceptional talent required to drive that shift is abundant."
The total combined private and public sector R&D expenditures in the Waterloo region exceeds $500 million annually. The total GDP of the region is estimated above $20 billion. Quality of life considerations also figure into the Waterloo region's attractiveness for the highly skilled, very well educated workers required by hi-tech employers. With Toronto regularly ranked among the world's most livable cities - only an hour away, the Waterloo region offers a considerably lower cost of living than most major urban centres. Commuting distances are relatively short and opportunities for healthy living, including experiencing Ontario's natural beauty, abound. Federal R&D tax credits, Canada's stable investment climate and universal health-care coverage all serve to lower ope-rating costs and increase the overall attractiveness of the area to business. Proximity to domestic markets, in both southern Ontario and the American Midwest add to the region's appeal.
Partners in Health
Canada prides itself on its universal healthcare system - one that is able to generate more than 25 million diagnostic images every year. Aside from the direct benefits that Agfa HealthCare's continued investment brings through jobs, the company also supports Canada's healthcare commitment by improving technologies to produce and manage those images. Michael Green, concludes, "Through our growing partnership, Canada and Agfa HealthCare advance the technology and systems that will define healthcare throughout the 21st century."
To learn more about investment opportunities in Canada, consult: www.investincanada.com
Prepared by the Invest in Canada Bureau, Spring 2009
