How Canada is leading brain research and senior care with a $24 million centre
A new brain research centre is expected to open in Ontario, Canada to support projects that enable healthier brain aging and allow seniors to live at home longer while reducing health care costs.
As reported by our sister brand Business Review Canada, the Canadian Centre for Aging and Brain Health Innovation at Baycrest Health Sciences will be established over the next five years and will effectively combine all of Baycrest’s brain research, clinical and educational programs into one convenient location.
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The city of Ontario will invest $23.5 million into the establishment.
“Brain disorders take an enormous toll on a personal level, as well as on the economy,” said Kathleen Wynne, Premier of Ontario, in an issued release. “Our investment in this centre will allow new advances in brain research and care, cementing Ontario’s position as an innovation leader and ensuring that people can continue to lead healthy lives as they age.”
The centre, scheduled to launch this fall, is one of the largest investments in senior care in the world.
“Our government is proud to support Baycrest Health Sciences and the new Canadian Centre for Aging and Brain Health Innovation,” added Reza Moridi, Minister of Research and Innovation. “We are committed to harnessing our research and commercialization strengths to attract investment and boost our economy, while helping seniors maintain their quality of life in the comfort of their own homes.”
In Ontario, the economic impact of brain and mental health disorders is estimated to cost more than $39 billion annually.
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The new centre will rise alongside the global market for brain health applications, software and biometrics, as the industry is poised to grow from $1 billion to $10 billion by the year 2020.