In order to address the looming shortage of much-needed medical equipment and to save lives amid the COVID-19 pandemic, the province of Ontario has placed an order for an additional 10,000 ventilators.

Premier Doug Ford, Minister of Economic Development, Job Creation and Trade Vic Fedeli and Deputy Premier and Minister of Health Christine Elliott announced the move at the daily Queen's Park press conference Wednesday morning.

They said the new ventilators have been ordered from Ontario-based O-Two Medical Technologies.

Great news today! Our government signed a deal for 10,000 ventilators with @otwomedicaltech. This is a made-in-Ontario solution that will change the way this province combats the spread of COVID-19. #OntarioSpirit pic.twitter.com/U7N6H68W5N — Doug Ford (@fordnation) April 1, 2020

"The Ministry of Health and the Ministry of Economic Development, Job Creation and Trade have worked closely with businesses across Ontario and the Automotive Parts Manufacturers' Association to ramp up production of ventilators to meet the need in Ontario and other parts of Canada," notes a press release from the provincial government.

"The government has recently placed an order with O-Two Medical Technologies who, with the support of Ontario's world-class manufacturing sector, will produce 10,000 ventilator units."

In the same press conference, the government announced that they'd just received a donation of 600,000 pieces of personal protective equipment from electricity generating company Bruce Power.

They also announced a new $50 million fund to help businesses provide innovative solutions or retool their operations to produce essential medical gear and supplies.

"O-Two Medical Technologies is eager to be part of the global effort to help save lives. Our e700 ventilator has a proven track record and, together with our partners and the provincial government, we will deliver this critical, life-saving equipment to the people of Ontario," said Kim Lassaline, CEO of O-Two Medical Technologies Inc., in a statement.

The new ventilators couldn't come at a better time, as cases of COVID-19 in the province continue to surge and the strain on the healthcare system worsens.

More than a week ago, a study by some of Ontario's leading medical researchers indicated that the province would inevitably run out of ventilators in just 37 days if they failed to increase their stockpile of the lifesaving equipment.