STI Technologies Limited, a Halifax, CA-based provider of intelligent reimbursement card solutions to the Canadian healthcare industry, received a $17m investment from Imperial Capital Group of Toronto.
The company intends to use the funds to further expand its services and reach into new areas of healthcare.
Founded in 2001 and led by Steve Nicolle, CEO, STI Technologies Limited offers offers drug sampling, medical device reimbursement, patient assistance, and patient choice programs, including innoviCares, a card-based drug benefit program which offers cardholders the choice of staying on off-patent, branded medication at little or no additional cost. The card can be used at any Canadian pharmacy and is obtained online at www.innovicares.ca, or through physicians, local pharmacies, or employers. There are currently 49 branded, off-patent, medications included in the program such as Crestor, Celexa, Nexium, and Plavix (the full list is available at www.innovicares.ca).
The company now employs 50 people.