PatCom Medical
Industry: Life Sciences
Jobs: 6
Investment: $18,000
Project Overview:
PatCom Medical is an early-stage Canadian medical device company focused on improving patient comfort during evaluation and treatment of communication and swallowing disorders. PatCom’s small diameter endoscopes, advanced light and camera technology, and patented Esophageal Introducer allow for easy intubation and more accurate testing, including Fiberoptic Endoscopic Evaluation of Swallowing (FEES), Videostroboscopy, and Reflux testing. With 80% of the company’s sales in the U.S., having a physical presence in the States became a top priority. The company was looking for a region with a strong life and health sciences ecosystem, specifically within minimally invasive surgery innovation, as well as potential for academic partnerships.
Project Solution:
PatCom Medical engaged Empire State Development and was then introduced to Invest Buffalo Niagara (InBN) for its potential project. InBN conducted a day of virtual cross border due diligence meetings in March 2021 with accounting, legal, banking, and incentive experts. This allowed the company to learn how to do business in the U.S. and what structure they would need in place to operate here. The company pursued Startup NY incentives, which allows a business to operate 100% State tax free for 10 years contingent on certain academic partnerships and location decisions. PatCom Medical was approved for Startup NY and is leasing space in the University at Buffalo’s Center of Excellence in Bioinformatics and Life Sciences (CBLS). In November 2021, PatCom Medical officially committed to Buffalo Niagara, moving in to the University at Buffalo’s CBLS. The project expects to create six new jobs.