About Traditional Medical Devices sector in Canada
The Traditional Medical Devices sector in Canada comprises 156 companies, including 28 funded companies having collectively raised $37.3M in venture capital money and private equity. Out of these, 21 are Series A+ funded.
Traditional Medical Devices sector in Canada has seen 19 acquisitions and 2 IPOs. This represents almost 13.5% of all such companies - which is higher than the 4.5% exit rate of tech companies in general.
This sector includes companies providing specialized materials, engineering equipment, products, or consulting services within the Traditional Medical Devices sector to optimize downstream enterprise and industrial applications.
Traditional Medical Devices sector is also known as Traditional Medical Devices Solutions, Traditional Medical Devices Products or Advanced Traditional Medical Devices.
Includes core manufacturing processes, standardized component supply channels, raw formulation mixes, and dedicated specialized technologies for Traditional Medical Devices. Excludes generic mass consumer goods, non-specialized horizontal transport/logistics, and high-level general business consulting services.
Key Metrics
Total Companies
Top Companies
Total Funding
Funded Companies
Series A+ Companies
Series C+ Companies
IPOs
Acquisitions
Also known as
Traditional Medical Devices Solutions or Traditional Medical Devices Products
Top Traditional Medical Devices Companies in Canada
There are 156 Traditional Medical Devices startups in Canada which include Arbutus Medical, Sondercare, 1704807 Ontario, FORMEDICA, Spirithealthcare. Out of these, 28 startups are funded, with 21 having secured Series A+ funding.
Over the past 10 years, an average of 3 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Pennsylvania.
Here is the list of top Traditional Medical Devices startups in Canada
Key facts about Arbutus Medical
- Founded Year: 2014
- Location: Vancouver (Canada)
- Stage: Seed
- Total Funding till date: $2.67M
- Investors: Nimbus Synergies, Genome British Columbia and 7 Others
- Latest Funding Round: Seed, Mar 31, 2025, $*****
- Tracxn Score: 37/100 What is this?
2. Sondercare
{}
Key facts about Sondercare
- Location: London (Canada)
- Stage: Unfunded
- Tracxn Score: 36/100 What is this?
Key facts about 1704807 Ontario
- Founded Year: 2018
- Location: Kawartha Lakes (Canada)
- Stage: Unfunded
- Tracxn Score: 35/100 What is this?
4. FORMEDICA
Retailer of orthopedic equipment and related healthcare products. The company offers a range of items to support mobility, joint health, and pain management. Product categories include bracing, supports, therapy aids, and foot care items. They also provide resources and expert advice for consumers and healthcare professionals. The selection caters to various needs, from everyday support to specialized medical devices.
Key facts about FORMEDICA
- Founded Year: 1972
- Location: Canada
- Stage: Unfunded
- Tracxn Score: 35/100 What is this?
- Competitors Rank: 34 of 870 Competitors
Key facts about Spirithealthcare
- Location: Canada
- Stage: Unfunded
- Tracxn Score: 34/100 What is this?
Companies founded year-on-year in the Traditional Medical Devices sector in Canada
11 Traditional Medical Devices startups in Canada were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | 2 |
2023 | - |
2022 | 1 |
2021 | - |
2020 | 11 |
2019 | 5 |
2018 | 8 |
2017 | 7 |
Stage-wise distribution of Traditional Medical Devices sector companies in Canada
Out of the total 156 Traditional Medical Devices companies in Canada, 28 have secured funding. Among them, 21 have reached Series A or higher, and 21 to Series B or beyond.
Founded - 156
Funded - 28
Series A+ - 21
Series B+ - 21
Series C+ - 21
Company Stage | No. of companies |
|---|---|
Founded | 156 |
Funded | 28 |
Series A+ | 21 |
Series B+ | 21 |
Series C+ | 21 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the Traditional Medical Devices sector in Canada
Total funding year-on-year in the Traditional Medical Devices sector in Canada
The Traditional Medical Devices sector in Canada saw a total funding of more than $37.2M in the last 10 years. The most amount of funding was in 2018 at more than $20M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $406K |
2023 | $2.26M |
2022 | $195K |
2021 | $3.28M |
2020 | $440K |
2019 | $600K |
2018 | $20M |
2017 | $30K |
Recent Funding Rounds in Traditional Medical Devices in Canada
In the year 2025, till March 2025, Traditional Medical Devices companies in Canada have raised $406K in equity funding across 1 round.
Here are some recent, important funding rounds in Traditional Medical Devices companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 7746 | Mar 31, 2025 | - | |
Seed | 5376 | Feb 13, 2023 | ||
Seed | 4543 | Sep 01, 2022 | - | |
Seed | 8030 | Aug 08, 2022 | ||
Seed | 2138 | Jul 20, 2021 |
Top Investors in Traditional Medical Devices in Canada
TechAlliance is the top investor in Traditional Medical Devices companies in Canada based on number of companies invested.
Here are some top investors in Traditional Medical Devices companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
London (Canada) | ||
Edmonton (Canada) | ||
Paris (France) | - | |
Vancouver (Canada) | ||
Markham (Canada) | Coloursmith and Humantec |
M&A activity in Traditional Medical Devices sector in Canada
In the year 2024, till July 2024, 3 acquisitions happened in Traditional Medical Devices sector in Canada. Last year, in 2023, a total of 2 acquisitions happened in Traditional Medical Devices sector in Canada.
Here are some recent, important acquisitions in Traditional Medical Devices sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jul 31, 2024 | ||
Business Acquisition | Jun 11, 2024 | ||
Business Acquisition | Jun 03, 2024 | ||
Business Acquisition | Sep 19, 2023 | ||
Business Acquisition | Jun 19, 2023 |
Acquisition trends in Traditional Medical Devices sector in Canada
Here are the acquisition trends in Traditional Medical Devices sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | 3 |
2023 | 2 |
2022 | 2 |
2021 | 3 |
2020 | 2 |
2019 | 5 |
2018 | 1 |
2017 | - |
IPOs in Traditional Medical Devices in Canada
In the year 2021, till January 2021, 1 IPO happened in Traditional Medical Devices sector in Canada.
Here are some recent, important IPOs in Traditional Medical Devices sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jan 27, 2021 | OTC Markets (OTCMKTS) | |
Nov 20, 2020 | Canadian Securities Exchange (CSE) | |
Dec 15, 2017 | Frankfurt Stock Exchange (FRA) | |
Aug 26, 2010 | Canadian Venture Exchange (CVE) | |
Oct 12, 2001 | Toronto Stock Exchange (TSX) |
Top News in Traditional Medical Devices in Canada
•
•
Exclusive Distribution Partnership: Aspen Surgical and Andau MedicalFinancial Post•Feb 11, 2025•Aspen Surgical, Andaumedical
•
Exclusive Distribution Partnership: Aspen Surgical and Andau MedicalBusiness Wire•Feb 11, 2025•Aspen Surgical, Andaumedical
•
•
FDA Clears the Smallest Life-Saving Bleeding Control Device, COBRA-OS™, by Front Line Medical Technologies After three years of research and development, Front Line Medical Technologies introduces the world’s smallest REBOA device to control bleeding and help patients survive emergenciesFinancial Post•Jun 29, 2021•Front Line Medical Technologies
•
•
Dolomite Bio’s Distributor List Expands GloballyMedical Device News•Jun 23, 2021•Dolomite Bio, Apgbio, Trendbio, DKSH and 5 others
•
Molli Surgical Announces FDA Clearance for MOLLI Wire-free Localization Technology for Breast Cancer SurgeryImaging Technology News•May 03, 2021•Mollisurgical
•
•
