Ontario to invest $4.22 million to support R&D expansion project at Baylis' Mississauga manufacturing plant

Mar 21 2016

Ontario is partnering with Baylis Medical Company, a leading supplier of cardiology and radiology products, to support an R&D expansion project at the company’s Mississauga manufacturing plant. The strategic partnership will create 84 new jobs and help reach new international markets, including Australia, Brazil, China and South Korea.

Through its Jobs and Prosperity Fund, a $2.7 billion plan to bolster the local economy and increase exports, Ontario will invest up to $4.22 million in Baylis’ new state-of-the-art facility, which will double the company’s environmentally-controlled rooms and R&D spaces. This expansion will allow Baylis to almost double its exports over the next seven years. Ontario’s investment secures a $32.5 million investment from Baylis towards the new facility.

QUOTES

Our number-one priority is growing the economy and creating jobs. The government’s support for Baylis Medical will help them expand facilities, ramp up their important research and development work and leverage new and innovative technologies. These efforts will allow Baylis Medical to strengthen their exports and significantly increase global competitiveness.

— Brad Duguid, Minister of Economic Development, Employment and Infrastructure

We are pleased to be partnering with the Ontario government on this expansion project. Our company has a track record for developing and commercializing advanced medical devices. This new facility will give us the space to increase production and hire additional resources to expand our portfolio of innovative products. This strategic partnership will help us compete and succeed globally.

— Krishan Shah, President, Baylis Medical Company

On behalf of the City of Mississauga, I would like to acknowledge the government of Ontario for partnering with private-sector job creators and making this important investment toward supporting the long-term growth and competitiveness of Baylis Medical, here in Mississauga. The Wynne government’s commitment to invest in leading companies, like Baylis Medical, will generate new and lasting economic development benefits for Mississauga. This investment will better position Mississauga as a thriving hub of global life science businesses.

— Mayor Bonnie Crombie, City of Mississauga

QUICK FACTS

• Baylis develops and manufactures medical devices that are used in cardiology, radiology, and spinal procedures.
• This project will enhance research collaborations between Baylis and various academic and research institutions in Ontario, such as Sunnybrook Research Institute, University of Toronto, London Health Sciences and Sick Kids Hospital.
• Ontario’s life sciences sector contributes more than $38 billion towards the province’s GDP and, in 2014, exported about $8.3 billion in goods, representing 75 per cent of total Canadian life sciences exports.
• The Jobs and Prosperity Fund (JPF) is providing $2.7 billion over 10 years to enhance productivity, bolster innovation and grow Ontario’s exports.
• Ontario is investing significantly‎ in innovation and R&D to help businesses thrive in a knowledge-based global economy.