$15.2M loan to boost Baylis manufacturing of medical devices
May 4, 2015 by Manufacturing AUTOMATION
May 4, 2015 – Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced a $15.2-million loan that aims to accelerate the development and commercialization of medical devices to Baylis Medical, a manufacturer and distributor of medical devices.
Specifically, the investment will allow Baylis to manufacture three new medical device product lines and improve productivity for in-house manufacturing.
These devices, according to FedDev Ontario, are the first of its kind in Canada and will be used by physicians during heart procedures.
“Innovative companies, like Baylis Medical, are taking Ontario’s manufacturing sector into the future. The Government of Canada is proud to support Baylis and continues to be committed to investing in trailblazing manufacturers by helping them become more competitive, more productive and by ensuring we keep and create higher quality jobs here in Canada,” said Stella Ambler, MP for Mississauga South.
Baylis Medical Company is expected to create 30 research and development jobs and 60 manufacturing jobs at its facilities in Mississauga, Ont.