Prominent Toronto businessman and Beach resident John Ruffolo has been paralyzed below the waist after he was struck by a transport truck while cycling in Markham earlier this month.
Ruffolo, 54, was hit by a truck that jackknifed in the Major Mackenzie Drive and York-Durham Townline Road area early on the afternoon of Wednesday, Sept. 2.
In a statement posted on his Linkedin page earlier this week, Ruffolo said “it is unlikely that I will regain the use of my legs.”
The full statement reads:
“Although my posts on Linkedin are mostly commentary around business, economics or innovation, this post today is a personal update.
“Some of you may have heard that I was struck by a jackknifing transport truck while out riding my bike on Wednesday. Thankfully my head was unaffected but despite several surgeries, it is unlikely that I will regain the use of my legs.
“I am as committed, and as able as always, and will be back in full force as soon as humanly possible on the pending launch of my Private Equity fund and to continue my advocacy work for Canadian Innovation.
“I want to thank all of the hospital staff for my wonderful treatment and care and truly appreciate all the love and support we are getting from our family and friends.
“I do ask that my family’s privacy be respected at this time, and I expect my social media interaction will be limited for the near term.
Thank you again for all of the support and I look forward to reconnecting with you again soon.”
He is being treated at Sunnybrook Hospital in Toronto.
Ruffolo is well known throughout Canada as a leading investor in the technology industry.
He launched OMERS Ventures, which is the venture capital arm of the Ontario Municipal Employees Retirement System pension fund, about 10 years ago. Ruffolo also invested early in Canadian companies such as Shopify Inc. and Hootsuite.
Ruffolo is currently involved with Maverix Private Equity, which supports Canadian companies and innovators.
York Regional Police said the truck driver involved remained on the scene, and the police investigation is ongoing.