The Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, today announced an investment of $52,500 in MetaCrust Services Ltd. for a proof-of-concept product to deliver secure health data transmission to remote patient monitoring devices.
MetaCrust launched in 2022 as a student-led startup from Memorial University, and has received support from Genesis. Founder and doctorial student Sidra Anwar was investigating privacy and security issues in medical devices when she realized the commercial value of her research.
The company is developing a secure data transmission channel for wearable health-monitoring devices such as the Masimo W1 Medical Watch and the Onera Sleep Test System. It ensures streamlined, uninterrupted and resource-efficient data flow from the user’s home to telehealth companies.
The Provincial Government’s contribution to this project will support the development of capital equipment including testing devices, computers, specialized machinery for prototyping and other technology-related hardware. MetaCrust is investing a further $75,100 in the project.
The Business Growth Program provides non-repayable contributions for projects or initiatives to assist businesses start, innovate, scale and improve sales locally, nationally or internationally. This investment aligns with Newfoundland and Labrador’s vision for a thriving health technology sector. The Provincial Government recognizes the potential of this sector to address local health challenges while also contributing to global health solutions.
In addition to this investment from the Provincial Government, MetaCrust is receiving advisory services and up to $260,000 in research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
Quotes
“Following the pandemic, we have seen a worldwide shift to remote healthcare which has created a vast and expanding market for wearable devices and remote patient monitoring. Strengthening and supporting remote healthcare capabilities can also help to alleviate some of the province’s current health care challenges. MetaCrust’s expertise in microcontroller-based systems aligns strongly with the technical demands of wearable devices. MetaCrust has the potential to establish itself as a leader in secure, energy-efficient solutions for healthcare devices.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology
“Our commitment is to provide quality care to the residents of Newfoundland and Labrador. That includes improving health data transmission to improve home health care throughout the province. We are committed to investments that focus on the social determinants of health and improving the well-being of our people.”
Honourable John Hogan, KC
Minister of Health and Community Services
“We are grateful for the provincial government’s support, which empowers MetaCrust to develop secure, energy-efficient health data transmission solutions for low-powered remote patient monitoring devices. This investment enables us to address critical healthcare challenges locally while expanding globally. Together, we are advancing innovation in healthcare technology.”
Sidra Anwar
MetaCrust Co-Founder and CEO
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