Mélanie Joly, Minister of Economic Development responsible for FedDev Ontario, announced a repayable contribution of $2.9 million to support the growth of two Burlington-based companies: AceAge Inc. and Gerrie Electric Wholesale Limited (Gerrie Electric).
$2.9 million combined for healthcare tech company
AceAge Inc., a healthcare technology company, has developed and commercialized the Karie™ in-home medical device that organizes and dispenses medication. The easy-to-use system allows patients to schedule medication refills and deliveries, which has become increasingly beneficial during the COVID-19 pandemic. It also reminds users to take their medication, which is dispensed with the push of a button, and uses smartphone technology to alert family or caregivers when a patient has missed a dosage. With a $1.5-million repayable contribution, AceAge Inc. will scale its operations to meet increasing demand in Canada and Europe by growing its development and support teams. This investment will also help the company launch its technology in the United States.
AceAge Inc. will also leverage an additional $4.5 million in private sector investment and grow its team to 70 employees with the addition of 50 skilled jobs in Burlington.
Gerrie Electric, a women-owned and -led wholesale distributor and retailer, specializes in electrical, automation, data communication and lighting products, services and solutions used in industrial, institutional, commercial, IP network, utility and retail markets. With a $1.4-million repayable contribution, Gerrie Electric will consolidate its distribution operations into a 76,000-square-foot facility in Burlington, equip the facility with Industry 4.0 technologies such as automated storage and retrieval systems, and digitize its workflow process. This investment will help to improve productivity and efficiency, grow domestic sales, and enable the company to be more sustainable and to better compete in the global e-commerce industry.
Gerrie Electric will also leverage an additional $4.7 million in private sector investment. The company will create 10 skilled jobs and maintain more than 450 jobs in Burlington.