More than two dozen new jobs are set to emerge following a significant funding announcement for the health technology sector in Kitchener.
Vic Fedeli, the Minister of Economic Development, Job Creation and Trade, visited on Wednesday to announce a $5.8 million investment from two local companies, Intellijoint Surgical Inc. and Vena Medical. The government is contributing $450,000 through its Life Sciences Scale-Up Fund to support these initiatives.
Both companies are located on Wellington Street in Kitchener, close to the expressway.
This combined investment will help create nearly 60 jobs, including 16 new roles.
“This funding strengthens Intellijoint’s ability to innovate, create high quality jobs in Kitchener, and build a globally competitive business,” said Armen Bakirtzian, co-founder and CEO of Intellijoint Surgical.
This morning in Kitchener, our government announced the first two recipients of the Life Sciences Scale-Up Fund.
Through their $5.8 million investment, @Intellijoint Surgical and @Vena_Medical will commercialize their Ontario-made technologies to new markets and play a key role… pic. twitter. com/d Bu P3t3n V6
– Victor Fedeli (@Victor Fedeli) February 25, 2026
The specialist company focused on hip and knee joint replacements mentioned that this funding will enable them to “leverage AI and automation technologies to enhance sales, streamline organizational workflows and increase production capabilities.”
A portion of the funds for Vena Medical will be used for a new facility that includes an AI-powered micro-camera designed for stroke 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, co-founder and COO of Vena Medical.
“We are ready to take this Kitchener-Waterloo-born innovation to the rest of the world.”
In total, Vena Medical is investing $4.5M of their own funds while receiving $1.5M from the province.
Intellijoint is putting in $1.3M from its own resources along with $450,000 from provincial support.
This funding comes from Ontario’s Life Sciences Scale-Up Fund (LSSUF).
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