Business New Brunswick

Government provides loan guarantee to Moncton company (09/11/06)

NB 1761

Nov. 6, 2009

MONCTON (CNB) - The provincial government is providing a $300,000 loan guarantee for working capital to help MedSenses Inc. in Moncton diversify its markets and develop new products.

"I'm proud to help this New Brunswick company fully develop and market its unique software products during challenging financial times," said Minister of Business New Brunswick Victor Boudreau. "MedSenses Inc. is a player in our province's growing information technology industry. We are eager to support this e-learning development company as it looks to expand right here in New Brunswick."

The company was founded by Trisha Coady and Lynn Casey in 2005, and develops professional development products and curriculum for nurses worldwide.

"We are excited about this opportunity to expand our market reach and develop additional product to meet the demands of our growing user base," said Coady, MedSenses Inc. president. "Without the support of some of New Brunswick's programs for small-to-medium businesses such as this, we would have far more difficulty competing on an international level."

"Strategic investments in our local information technology firms signal our commitment to this exciting industry," said Boudreau. "Cultivating partnerships such as this one will help us strengthen our emerging e-learning cluster. Our government has identified this industry as a priority because we know it offers the strategic growth to help our province become self-sufficient by 2026."

09/11/06

MEDIA CONTACTS: Ashley Bursey, communications, Business New Brunswick, 506-453-2694, ashley.bursey@gnb.ca; Trisha Coady, president, MedSenses Inc., 506-215-0550.

09/11/06