[NEW WATERFORD, NS] — A Cape Breton company that helps health care organizations improve care while controlling costs has received a boost.
Health Outcomes Worldwide has secured $250,000 in financing from Innovacorp to help develop its business and expand operations.
The company has also received $89,800 from the Department of Economic and Rural Development and Tourism's Productivity Investment Program, an initiative that provides financial incentives to encourage businesses to become more productive, innovative and globally competitive. The incentive will be used to purchase software that will increase the company's competitiveness in mobile health technology, while increasing efficiency when maintaining and enhancing the technology.
"Health Outcomes Worldwide is a prime example of an innovative Nova Scotia start-up with immense market potential," said Economic and Rural Development and Tourism Minister Percy Paris.
The New Waterford-based company has developed how2trak, a web-based measurement system that can track, monitor and report on care and costs for wound treatment. It helps health care organizations deliver high quality care while managing costs, which benefits patients, frontline staff, administrators and decision makers.
"This company has solid leadership, an innovative product, and a vision for future growth based on reducing the suffering and costs associated with wound care," said Clifford Gross, president and CEO of Innovacorp.
With subject expert Corrine McIsaac as president and CEO, Health Outcomes Worldwide plans a nationwide rollout and to continue developing the platform to add modules for diabetes, chronic obstructive pulmonary disease, chronic heart disease, post-operative surgical site surveillance and palliative care.
The company is working on a project for the First Nations Inuit Health Branch through the Cape Breton District Health Authority. The project is reducing costs, while improving the quality of the treatment of wounds.
"These investments will help us move into new markets with the how2trak system," said McIsaac. "We look forward to helping health care organizations affordably deliver the best care to patients."
