Covalon Technologies Ltd. is a biotechnology company that operates in the healthcare industry. Entrepreneurial PhD holders from the University of Toronto formed the company to develop proprietary medical technology to provide healthcare solutions to patients across the globe.
In 2004, Covalen Technologies Ltd became a public corporation. The biotechnology-driven business foundation helped the company to strategically partner with small and large sized corporations.
Covalen Technologies is listed on the Toronto Venture Stock Exchange (the Canadian market), with its common shares trading under the ticker symbol COV. The Mississauga-based biotech company develops, obtains licenses, produces, markets, and sells numerous medical technologies to solve different health complexities in different fields, including:
Advanced Wound Care – Covalen Technologies offers a complete range of solutions to treat wounds under two brands – CovaWound™ and ColActive®.
Vascular Access – The company provides an innovative vascular access dressing solution that avoids any type of possible infection and is convenient for patients. It includes IV Clear™, CovaClear IV and CovaView IV.
Perioperative Care – It facilitates preoperative skin protection and a care regime. The product portfolio includes MediClear™ PreOp, SurgiClear™, MediClear™ PostOp Absorb and MediClear™ Scar.
Urology – The company developed SilverCoat™, a pure silver foley catheter technology.
In addition, Covalon Technologies had a moisture barrier product line – AquaGuard®. The company offers a portfolio of moisture barriers to protect wounds and keep them dry.
Covalon Technologies also provides customized medical care solutions according to the requirements of consumers, medical devices, and pharmaceutical business sector to better serve patients.
The company delivers custom healthcare solutions through its technological platforms:
Biomatrix – an active collagen technology platform
Medical Coating – customized medical coating platform
CovaGaurdTM – an antimicrobial sanitizing technology
Antimicrobial Silicone – an antimicrobial silicone adhesive film technology
Covalen strategically works with medical device corporations, business organizations, medical distributors, and international businesses. Covalon Technologies Ltd. earns revenue from the sale of its healthcare product line and licenses, and by signing up for development and distribution contacts.
In July 2021, the company sold its AquaGuard® product line to TIDI Products, LLC., a Neenah-based medical device company for a transactional amount of US$30 million.