Canada invests in life sciences with $2.3M for MedXL
by CM Staff
The project will support the business's growth through the acquisition and installation of digital production equipment.
POINTE-CLAIRE — Canada’s Minister of Sport and of CED Pascale St-Onge announced a repayable contribution of $2.3 million for MedXL, a prefilled syringes and medical devices manufacturer.
The funds are intended to increase MedXL’s production capacity.
Through the acquisition in 2020 of Liebel-Flarsheim Canada, a manufacturer specializing in contrast agents and prefilled syringes, MedXL has been able to pursue its expansion.
MedXL says the CED contribution will help it to meet growing market demand. The project will support the business’s growth through the acquisition and installation of digital production equipment. It will also enable the company to establish a new production line. The company anticipates the investment will help create 25 jobs and maintain 125 others.
“The Government of Canada is committed to stimulating innovation to enhance business productivity and competitiveness in the long term. We are therefore proud to be able to provide this support to MedXL, whose project is helping to strengthen the Greater Montréal region’s position as a hub for life sciences development—a sector that holds great promise. As it contributes to the creation of many quality jobs, it will also help the business grow and maintain its enviable position,” said Francis Scarpaleggia, Member of Parliament for Lac-Saint-Louis in a statement.