Manufacturing Giant CAE Receives $30M Loan From Quebec Government

CAE is one of the worlds leading manufacturers of flight simulated technology

QUÉBEC, The Government of Quebec has granted Canadian manufacturer giant CAE, a loan of $ 30 million repayable by royalties. This support will enable the company to continue its research and development activities in connection with the development of products and services for simulation and training applications in the health sector.

The Minister of Economy and Innovation, Mr. Pierre Fitzgibbon, made the announcement today.

Thanks to this investment, CAE will complete the second phase of its Genesis project, launched in 2009. This phase includes the development of new patient simulators, geriatric and pediatric simulators, platforms for airway management training and the simulation of spine, products for equipment manufacturers as well as new modules for surgical simulators and medical equipment. The second phase of the project will be carried out at a cost of $ 82.4 million and will create 50 jobs in the Montreal region.

The first phase of the Genesis project, for which the Quebec government granted a loan of $ 70 million, enabled CAE to develop and market interactive products aimed at training health professionals, such as simulators. ultrasound and surgery. The CAE Healthcare division has thus become a world leader in training solutions in the field of healthcare simulation.

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