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Ontario Bioscience Innovation Organization Releases Report on Benefits of Adopting Innovative Technology in Healthcare



  Ontario Bioscience Innovation Organization Releases Report on Benefits of
  Adopting Innovative Technology in Healthcare

 Realizing the Promise of Healthcare Innovation in Ontario – Increasing Value
                  for the Patient, Health System and Economy

Business Wire

TORONTO -- December 11, 2013

Ontario’s healthcare system faces the dual challenge of a fiscally
unsustainable rise in healthcare costs, currently in excess of $48 billion,
and the rise of chronic disease and related co-morbidities. Ontario Bioscience
Innovation Organization’s report, “Realizing the Promise of Healthcare
Innovation in Ontario”, recommends policy avenues that put innovative
technologies to work to address these and other system-wide issues.

The report captures missed opportunities and illustrates the need for a
process that addresses adoption of new technologies in order to catalyze
commercialization for the therapeutics, medical devices, diagnostics and
health information technology sectors while strengthening the province’s
capacity to deliver cost-effective care for patients as intelligently and
innovatively as practicable. The outcome will be positive change to the
economic picture and to the health and prosperity of Ontarians. A full copy of
the report is available at www.obio.ca.

“Ontario faces economic and healthcare challenges common to many jurisdictions
around the world,” said Robert Hardt, President and CEO, Siemens Canada
Limited. “The OBIO report challenges old ways of thinking about innovation
adoption and illustrates both the need for and the benefits of joining
forward-thinking policymakers in implementing changes that will reduce overall
costs improve patient outcomes and stimulate job creation across the public
and private healthcare sectors.”

Gail Garland, President and Chief Executive Officer, Ontario Bioscience
Innovation Organization said, “OBIO has led a team of amazing and dedicated
industry stakeholders, health economists from CLEAR and researchers from
Massey College’s Innovation Cell. We are pleased to release a report providing
thought leadership on developing a transparent commercial pathway that will
allow health technology and bioscience companies to address Ontario’s
healthcare challenges. The health and economic benefits from adopting
healthcare innovations will accrue to all Ontarians.”

The OBIO Innovation Adoption Steering Committee includes the following leading
healthcare companies: Amgen Canada Inc., Eli Lilly Canada Inc., McKesson
Canada Inc., Pfizer Canada Inc., and Siemens Canada Ltd. Other leading
supporters include Astra Zeneca Canada, Baxter Canada, CML HealthCare,
InterMune Canada, Janssen Canada, Medtronic Canada, Merck Canada, Novadaq and
Valeant Canada.

About Ontario Bioscience Innovation Organization

The Ontario Bioscience Innovation Organization (OBIO^®) is a private sector,
membership-based organization that is Ontario’s leading advocate for the life
sciences sector. OBIO is engaged in policy and government relations activities
to enable the successful development and commercialization in Ontario of life
sciences technology through investment, strategic alliances, stakeholder
engagement and industry promotion. For more information please visit
www.obio.ca.

In addition to those mentioned above, OBIO is supported by Members and
Sponsors, among whom are Biotechnology Focus, Gowlings LLP, Norton Rose
Fulbright LLP, PricewaterhouseCoopers and RBC Royal Bank.

Contact:

Ontario Bioscience Innovation Organization
Gail Garland, 416-673-6619
President and Chief Executive Officer
gailgarland@obio.ca
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