March 5, 2014By Lance Baily

Large Capital Investments Continue To Pour Into Medical Simulation Arenas

major investments into simulation

Today comes two stories that demonstrate the continued investment into healthcare simulation technology development:

1) Jump Trading Simulation and Education Center gets $25 million bounce

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“Illinois-based Jump Trading Simulation and Education Center will get another $25 million bounce from its major benefactor, Jump Trading, a Chicago-based financial trading firm, to sponsor joint research projects between the innovation center and the University of Illinois College of Engineering at Champaign-Urbana. 

The latest gift, which requires OSF Healthcare to raise $25 million in matching funds, will help create a permanent endowment for Jump ARCHES, or Jump Applied Research for Community Health through Engineering and Simulation. 

“This is a dramatic expansion of our initial innovation agenda,” Dr. John Vozenilek, Jump’s chief medical officer, said in an interview before the reception. 

The goal is strengthen an environment where medical professionals already work with engineers. They plan to broaden the work and the collaborating partners. Faculty from the U of I’s engineering department will be based at the center. Medical professionals will have an opportunity to work with all types of engineers, including computer scientists and mechanical, bio-medical and industrial engineers.  The endowment will also award competitive research grants annually. 

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Medical professionals pose problems for engineers to solve, he explained. They’ll research developing new tools, techniques and devices for use in several areas, including medical imaging and health information technology.” Read the full article at the Journal Star News website.

2) CAE To Spend $250 Million To Develop And Expand Modeling and Simulation Technologies

“The goal of CAE’s Project Innovate, which will span five and half years, is to develop and expand CAE’s current modeling and simulation technologies, develop new ones and continue to differentiate its service offering. This investment is being made through the Government of Canada’s Strategic Aerospace and Defence Initiative (SADI), which supports strategic industrial research and pre-competitive development projects in the aerospace, defense, space and security industries.

“CAE is proud to partner with the Government of Canada for its R&D projects. By supporting and nurturing innovation in the aerospace industry through the SADI program, the government helps maintain and grow highly skilled jobs in Canada,” said Marc Parent, President and Chief Executive Officer of CAE. “With the government’s support, CAE can continue making substantial research and development investments in order to maintain its leadership position in modelling, simulation and training,” said Stephane Lefebvre, CAE’s Chief Financial Officer. 

CAE will carry out Project Innovate in Canada, utilizing its R&D laboratories, as well as test and integration facilities. CAE employs approximately 4,000 people in 15 locations across Canada and around 4,000 in the rest of the world. CAE’s highly-skilled workforce will continue to partner with universities and key research organizations in Canada, as well as innovative suppliers across the country.” While these investments will primarily support Aviation and Defense simulation, we learned at IMSH 2014 that CAE Healthcare benefits from shared engineering resources with parent company CAE. Read more at the Ottowa Citizen News website.

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