In the race to revolutionize healthcare, Ontario is putting its money where its innovation is.
The provincial government recently announced a $1.5 million investment through the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of its Regional Development Program to support a massive expansion project by Kinectrics Inc., a Toronto-based company specializing in nuclear lifecycle solutions.
“Kinectrics’ investment is a shining example that our government is fostering the conditions necessary for life sciences innovation to thrive, ensuring that the development of groundbreaking medical treatments can happen right here in Ontario.”
– Vic Fedeli, Minister of Economic Development, Job Creation, and Trade
This investment is part of a much larger $22.4 million project led by Kinectrics to scale up the production of critical medical isotopes, which are essential for cancer treatment and diagnostic imaging. The combined strategic funding aims to bolster the province’s medical manufacturing capabilities, ensuring that Ontario remains at the forefront of medical advancements and patient care.
Medical Isotopes: Small Particles, Big Impact
Medical isotopes might be invisible to the naked eye, but their impact on healthcare is anything but small. These radioactive substances are used to diagnose and treat a wide range of health conditions, including heart disease and cancer. The demand for isotopes continues to rise worldwide, making local, reliable production more important than ever.
Kinectrics’ $22.4 million project is a direct response to this growing need. With AMIC funding, the company is expanding its Centre for Medical Isotopes (CMI), adding new clean room facilities, advanced automation systems, and expanding isotope processing capabilities. This expansion is expected to increase production of Lutetium-177, a medical isotope used to treat tumors and prostate cancer.
This strategic project not only advances Ontario’s capabilities in nuclear medicine but also supports the province’s commitment to reshoring critical manufacturing capacity and strengthening healthcare resilience.
“Through our Regional Development Program, we are proud to support a company that is advancing medical isotope production and reinforcing our province’s role as a global leader in medical innovations, while creating good-paying jobs for workers.”
– Vic Fedeli, Minister of Economic Development, Job Creation and Trade
How AMIC Supports Healthcare and Manufacturing Innovation
The Advanced Manufacturing and Innovation Competitiveness (AMIC) stream is a powerful funding tool under Ontario’s Regional Development Program. Targeted at small and medium-sized enterprises (SMEs) in sectors like life sciences, aerospace, and clean technology, AMIC helps businesses invest in capital equipment, adopt cutting-edge technologies, and upskill their workforce.
The AMIC stream offers two funding formats:
- Loans of up to 15% of eligible project costs (to a maximum of $5 million), interest-free for the duration of the project (up to four years).
- Grants of up to $1.5 million for strategic projects that involve foreign direct investment, reshoring critical manufacturing, or breakthrough innovation—as in the case of Kinectrics.
To qualify, businesses must:
- Have at least three years of operation;
- Employ 10 or more staff;
- Commit to creating at least five new jobs or upskilling employees;
- Invest at least $500,000 into the proposed project; and
- Operate in, or plan to operate in, a community within Ontario.
By focusing on projects that build capacity in emerging technologies and create high-value jobs, AMIC helps manufacturers become more globally competitive, while contributing directly to Ontario’s economic and healthcare priorities.
A Strategic Investment with Lasting Impact
Kinectrics’ project is more than a manufacturing upgrade; it’s a promise to boost Ontario’s long-term strategy to secure healthcare innovation, economic growth, and job creation.
Located at Kinectrics’ Toronto facility, the expanded CMI plans to:
- Create and sustain 50 high-skilled jobs;
- Strengthen Canada’s sovereign capacity to produce critical isotopes;
- Serve global markets, reinforcing Ontario’s role as a leader in nuclear medicine; and
- Support R&D in collaboration with hospitals, universities, and research institutions.
This initiative also aligns with federal efforts to position Canada as a top-tier producer of medical isotopes. With facilities like CANDU reactors at Bruce Power and Ontario Power Generation already producing key isotopes like Cobalt-60, the province is building a comprehensive supply chain for both diagnostic and therapeutic uses.
Moreover, by funding companies like Kinectrics through AMIC, the province ensures that SMEs in the life sciences and advanced manufacturing sectors are equipped to lead the next wave of healthcare breakthroughs, all while fueling local economies.