The Tokyo camera and printer giant will buy the British Columbia-based company in a share-based deal reportedly worth $345 million, furthering Canon’s five-year transformation plan to establish itself in the medical-imaging industry. (The Logic, Business in Vancouver)

Talking point: Growing international interest in semiconductor technology and artificial intelligence is giving an international stage to homegrown Canadian companies like Redlen. According to PitchBook, Redlen’s backers and board members include Canadian investors from firms like PenderFund Capital Management, Pangaea Ventures and Yaletown Partners. Redlen’s technology can be used in fields like cardiology to help clinics make diagnoses with a quicker scan at twice the image resolution, but with a 40 per cent lower radiation dose than typical CT scans. While the worldwide chip shortage has had a more pronounced effect on other industries, the deal between Canon and Redlen also comes amid pressure to make up for lost time in health screenings and diagnostics delayed during the pandemic.