16
Aug-2017

Ace Age lands strategic $2 million agreement with Centric Health

Feel safe that your loved ones are taking their medicines correctly: Karie is an innovative technology appliance that simplifies and monitors the administration of multiple medications, improving compliance and reducing adverse drug complications. Its easy-to-load cartridge uses a multi-dose medicine package, like that produced by Centric Health. (CNW Group/Centric Health Corporation)

Last week, Centric Health, Canada’s leading diversified healthcare company, announced a strategic agreement with Ace Age (iF client). This agreement and investment is based on Ace Age’s medication delivery device, Karie.

Designed for individuals taking multiple medications, Karie is an innovative device that makes it simple to follow complex medication regimes by automatically delivering prescription drugs, in the correct dosage and at the right time. The medication comes pre-organized in an easy-to-load cartridge.

Karie is currently in its second phase of testing in a clinical trial at the University of Toronto. Production and delivery is expected to begin in spring 2018.

The $2 million cash investment from Centric Health is offered in exchange for 20 percent ownership. Additionally, Centric Health’s CEO David Cutler will join Ace Age’s Board of Directors. Both companies are excited about the partnership and look forward to future developments.

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