Baylis Medical Company Inc., a global medical device company, has taken the next pivotal step in its global expansion strategy with the official opening of a new state-of-the-art laboratory in Mississauga, Ontario.
The new extrusion lab will allow the company to expand its capabilities and capacity to design, develop, manufacture and commercialize cutting-edge medical device technologies that will advance multiple fields of medical practice, including cardiology, radiology and spinal procedures.
According to company officials, the opening represents a significant step in Baylis Medical's plan to rapidly develop innovative products by bringing more capabilities in-house. Previously, the extrusion of plastic tubes used in Baylis devices was done outside of Canada, resulting in higher costs and longer production cycles.
"Bringing this capability in-house means we can shorten our development cycle, better control our production process and greatly improve our product design process," says Kris Shah, President of Baylis Medical. "It shrinks our production time from about two months to less than 48 hours, which allows us to test even more design ideas, all while accelerating the production of both new and existing products."
"Today's grand opening signals a pivotal step in our company's Vision 2020 plan, which includes building a healthy pipeline of new and innovative products and expanding our market globally," says Shah. "It also strengthens our efforts to become a vertically integrated company with the in-house expertise needed to rapidly take an innovation from its raw material state to a manufactured device, including all the development and commercialization steps in between. We are now well-positioned to provide even more innovative and clinically relevant solutions that address real-world challenges."
Baylis Medical hired additional technical staff to support this expansion. The company is also expanding its workforce to support the production of new product lines and reach new international markets.
Baylis Medical's expansion was supported by investments from the Government of Canada through the Federal Economic and Development Agency for Southern Ontario (FedDev Ontario)'s Advanced Manufacturing Fund and the Ontario government through the Jobs and Prosperity Fund.
"Our Government is committed to helping Canadian companies fuel innovation, expand globally and create highly-skilled jobs that will ultimately strengthen our economy. Our investment in Baylis Medical is one way we are highlighting the skilled talent that is key to strengthening Canada's global standing as a competitive and innovation nation," says Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.
"Baylis Medical is another great example of why Ontario is, and will remain, a leader in the innovation and knowledge economy. The Ontario government is proud to support homegrown successes that are creating jobs in Ontario and expanding sales abroad, particularly in the important field of medical devices which help improve the quality of lives for patients here in Ontario and around the world," says Reza Moridi, Ontario's Minister of Research, Innovation and Science.