Governments of Canada and Ontario officially announce $123.5-million Canadian Centre for Aging and Brain Health Innovation at Baycrest
May 22, 2015
TORONTO — On the heels of federal and provincial budget commitments of $42-million and $23.5-million respectively for the Canadian Centre for Aging and Brain Health Innovation (CC-ABHI), The Hon. Joe Oliver, Minister of Finance, The Hon. Kathleen Wynne, Premier of Ontario, and The Hon. Reza Moridi, Ontario Minister of Research and Innovation, made the official announcement at Baycrest Health Sciences today.
Government funding for the CC-ABHI is matched by a further $25-million commitment from the Baycrest Foundation and $33-million from partner organizations.
The $123.5-million landmark initiative is one of the largest senior care investments globally, and demonstrates the commitment of both levels of government to tackling the cognitive, emotional and physical health challenges facing older adults. The CC-ABHI will operate as a national hub and network bringing together science, healthcare and industry partners dedicated to the development, validation, commercialization, dissemination and adoption of brain health and seniors care products and services.
Work is now underway to launch CC-ABHI in the Fall of 2015.
About CC-ABHI Partners
The Canadian Centre for Aging and Brain Health Innovation founding partners include leading industry (12), academic (6), public-sector (20), and not-for-profit partner (2) organizations. Partners have committed key infrastructural resources to create a platform of expert services, supports, and distribution channels accessible to CC-ABHI as part of the Centre’s activities. Collectively these partners will contribute a total of $33M that will be utilized to invent, test, demonstrate, disseminate, adopt, and catalyze innovation.
About Baycrest Health Sciences
Baycrest Health Sciences is a global leader in geriatric residential living, healthcare, research, innovation and education, with a special focus on brain health and aging. As an academic health sciences centre fully affiliated with the University of Toronto, Baycrest provides an exemplary care experience for aging clients combined with an extensive clinical training program for students and the Rotman Research Institute, one of the world’s leaders in cognitive neuroscience. Through its commercial and consulting arms, Baycrest is marketing its sought-after expertise and innovation to other healthcare organizations and long-term care homes, both in Canada and internationally.
“Innovation is at the heart of the Canadian economy. It fuels jobs, growth, and long-term prosperity, while tackling the pressing medical challenges of our time. That includes age-related cognitive impairment – a growing issue across the country. That is why we are proud to invest in the creation of the Canadian Centre for Aging and Brain Health Innovation. We expect its cutting edge research and world-leading innovation will make life better for seniors here and around the world, and support a caring and prosperous society at home.”
The Hon. Joe Oliver, Minister of Finance, Canada
“Brain disorders take an enormous toll on a personal level, as well as on the economy. Our investment in this centre will allow new advances in brain research and care, cementing Ontario’s position as an innovation leader and ensuring that people can continue to lead healthy lives as they age.”
Kathleen Wynne, Premier of Ontario
“Our government is proud to support Baycrest Health Sciences and the new Canadian Centre for Aging and Brain Health Innovation. We are committed to harnessing our research and commercialization strengths to attract investment and boost our economy, while helping aging Ontarians maintain their quality of life in the comfort of their own homes.”
The Hon. Reza Moridi, Minister of Research and Innovation, Ontario
“Baycrest is poised to leverage its nearly century-long reputation for geriatric expertise and, with our CC-ABHI partners, to lead a made-in-Canada transformation of the experience of aging for seniors around the world.”
Dr. William Reichman, President and CEO, Baycrest Health Sciences
“On behalf of the Baycrest Foundation, I want to thank all of our partners who share the vision of the Canadian Centre for Aging and Brain Health Innovation. I especially want to thank our donor community whose support has been integral to Baycrest’s success in providing excellent care, research, innovation and education. The promise of this new centre, the health impact it will have on our grandparents, our parents, ourselves and future generations, is immeasurable.”
Garry Foster, President and Chief Executive Officer, Baycrest Foundation
“IBM has a legacy of supporting innovative, brain-related research in Canada. Today we are extending that commitment to world-changing progress by providing analytics and other technology tools that will enable The Canadian Centre for Aging and Brain Health Innovation’s scientists to capture healthcare data quickly and apply insights to accelerate their research. This is an important collaboration that will ultimately positively impact the lives of our loved ones.”
Dino Trevisani, President, IBM Canada Ltd.
For more information on this media release, please contact:
Kelly Connelly, Senior Media Officer
Baycrest Health Sciences