TORONTO, APRIL 11, 2018 - Baylis Medical Company is partnering with the Government of Ontario to open a state-of-the-art Baylis Medical Innovation Centre. The new facility, located in Mississauga, Canada, will allow the company to advance its research and development (R&D) efforts, and significantly grow its product line and workforce.
The funding will support Baylis Medical as it expands its product offerings through new product lines that will advance multiple fields of medicine, such as interventional cardiology and spine. The funding also allows Baylis Medical to expand its reach into new international markets.
"As heart disease is the number one cause of death in the world,1 our focus is on constantly innovating new clinical solutions that add value to health care systems," said Neil Godara, Baylis Medical's Director of R&D. "We are pleased to have the province's support as we take these next critical steps in putting leading-edge technology in the hands of more physicians."
The grant is awarded through the provincial government's Jobs and Prosperity Fund (JPF), which supports Ontario-based businesses making significant contributions to the provincial and global economies.
"We're pleased to make this investment not only for the many good jobs it supports but for the lives it improves. There are few of us who are not touched in some way by heart disease, and applying Ontario innovation to solutions that will help more people live healthier lives is a great way we can make a difference," said the Honourable Steven Del Duca, Ontario's Minister of Economic Development and Growth.
Kris Shah, President of Baylis Medical, sees the announcement as a pivotal moment in the company's trajectory to realizing its long-term growth strategy: "Establishing the Baylis Medical Innovation Centre will maximize our ability to build a healthy product pipeline and globally increase patient-access. We are thrilled to be making this expansion in Ontario, with the support of our government."
"The Baylis Medical expansion is excellent news for Mississauga, which will benefit from the added jobs and increased recognition as an international innovation powerhouse. I am pleased to see our government continue its support of companies like Baylis Medical," said Amrit Mangat, Member of Provincial Parliament for Mississauga-Brampton South.
The Baylis Medical Innovation Centre is slated to officially open later this year.
About Baylis Medical Company Inc.
Baylis Medical develops and markets high-technology medical devices used in the fields of electrophysiology, interventional cardiology, interventional radiology, and spine. Our vision is to develop and market innovative medical therapies while Improving the Lives of People Around the World. The company has offices in Montreal and Toronto (Canada), Boston (USA), London (UK), and Munich (Germany). For more information, visit www.baylismedical.com.
PRM-00316 EN J-1,2,3 V-1 © Baylis Medical Company Inc., 2018. The Baylis Medical logo is a trademark or registered trademark of Baylis Medical Company Inc. in the United States and/or other countries.
1 Source: World Health Organization, January 2017. (http://www.who.int/mediacentre/factsheets/fs310/en)