NEWS

Baylis Medical Company Expands Operations Center in Mississauga, Canada

Monday, Apr 16, 2018

Baylis Medical Company, a company that develops and manufactures medical devices that are used in cardiology, radiology and spinal procedures, will build a new facility and expand its product development, creating 233 new jobs and retaining 339 positions in Mississauga, Ontario, Canada.

According to Ontario provincial officials, with support from Ontario's Jobs and Prosperity Fund, the company is expanding its footprint in Mississauga with a new state-of-the-art "Baylis Medical Innovation Centre" that will centralize the company's R&D activities. This expansion will allow Baylis Medical to develop a number of new product lines, including four technologies that will be produced for the first time, anywhere in the world. It will also help the company expand into new international markets in Europe and Asia.

“We are pleased to partner with the Ontario government on this expansion, which marks a significant next chapter in the development of our company. The Baylis Medical Innovation Centre will sharpen our competitive edge as we continue to expand our international reach and position our company as a global leader in the medtech sector, said Kris Shah, President, Baylis Medical Company.

Ontario is providing a loan of up to $9.46 million and a grant of up to $7.74 million through the Jobs and Prosperity Fund. This is part of a larger overall investment by the company valued at $130.91 million. The project is scheduled for completion in summer 2023.

Ontario first partnered with Baylis Medical in 2016 to support an R&D expansion project at the company’s Mississauga plant. The project’s positive progress has put Baylis Medical in a position to further expand in the med-tech sector.

“Supporting forward-thinking and innovative companies like Baylis Medical Company is what the Jobs and Prosperity Fund is all about. Our government is thrilled that the company is expanding in Ontario again, following the success of our first partnership. This will help the company make an even greater impact on helping patients, while accelerating the growth of Ontario’s economy and creating high value jobs in the province,” said Steven Del Duca, Minister of Economic Development and Growth.

“Ontario is becoming a global magnet for medtech innovation thanks to homegrown companies like Baylis. Together, we are transforming Ontario’s health system by accelerating the development and adoption of new health technologies that can improve the lives of patients and create jobs,” said William Charnetski, Chief Health Innovation Strategist for Ontario.

 

Source: areadevelopment.com