Exhibit  10.3

PROVINCIAL  TREASURY
     PRI  Lending  Agency
     PO  Box  1420
     Charlottetown
     Prince  Edward  Island
     Canada  C1A  7N1
     Tel  902  368-6200
     Fax  902  369-6201



     May  23,  2000

     Mr.  Sean  P.  Flanigan
     Vice  President  &  COO
     Island  Critical  Care  Corporation
     29  Houlahan  Street
     Nepean  Ontario  K2J  3W9

     Dear  Mr.  Flanigan:

     Re:  Funding  Pulse  Oximeter

     With  regards to the above, this letter will serve as acknowledgement, that
the  funding  conditions  for  the  Pulse  Oximeter being manufactured by Island
Critical  Care  Corporation  have  been  met.

     The  Lending  Agency  will  be  in  a position to disburse on its loan upon
receipt  of  the interim financial statements and signing of the loan documents.

     I  trust  the  above  is  satisfactory.

     Yours  truly,

     /s/  D.C.  Aitken
     D.C.  Aitken
     Account  Manager