The order for the 9820, which provides hyperpolarised Xenon for use in magnetic resonance studies, will, once received, take the total number of polarisers installed or on order to 24.
The system will also help to expand SickKids' ongoing paediatric research programme using hyperpolarised gas imaging.
The hospital currently has an earlier model of Polarean’s polariser, which has recently been upgraded.
"We are very happy to extend our long-standing relationship with SickKids Hospital in Toronto who work tirelessly on the paediatric applications of hyperpolarised xenon imaging for this important patient population", said Richard Hullihen, Polarean’s chief executive.
In early trading on Wednesday, Polarean's shares were steady at 15p.