Burnaby-based Kardium is investing $125 million to expand manufacturing of its Globe Pulsed Field System, a heart-treatment technology for atrial fibrillation. Ottawa will contribute up to $31.25 million through the Strategic Response Fund, supporting a major cleanroom expansion in British Columbia.
The project is expected to boost annual production capacity from 500 units to 30,000, while creating and maintaining 1,000 highly skilled jobs and keeping intellectual property in Canada. Kardium says the expansion will help bring its system to more physicians and patients worldwide after securing key regulatory approvals for the technology earlier this year in North American commercial markets.
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