The Government of Canada invests in life sciences by supporting MedXL

Pointe Claire the company receives $2.3 million in financial assistance from CED.

POINTE CLAIRE, QC, June 17, 2022 /CNW Telbec/ – Canada Economic Development for Quebec Regions (CED)

Supporting business growth contributes to the economic development of of Quebec Regions. That is why Francois ScarpaleggiaMember of Parliament for Lac-Saint-Louis, on behalf of the Honorable Pascale St-Onge, Minister of Sports and Minister responsible for CED, today announced a repayable contribution of $2.3 million for MedXL. This support from CED will enable it to improve its productivity and increase its production capacity.

Situated at Quebec, MedXL manufactures prefilled syringes in various formats to maintain vascular access. With the 2020 acquisition of Liebel-Flarsheim Canada, a manufacturer specializing in contrast media and prefilled syringes, MedXL was able to continue its expansion.

This contribution from CED will enable it to meet growing market demand. The project will support the company’s growth through the acquisition and installation of digital production equipment. It will also strengthen its competitiveness with the installation of a new production line. In addition, it will create 25 jobs and maintain 125 others.

The government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities. of Quebec economic recovery relies on organizations that are well anchored in the regional economy. They are major contributors to growth, as well as essential assets for rebuilding a stronger, more resilient, greener and fairer economy for all.

Quotation

“The government of Canada is committed to driving innovation to improve long-term business productivity and competitiveness. We are therefore proud to be able to provide this support to MedXL, whose project contributes to strengthening the position of the Montreal metropolitan region as a development hub for life sciences, a very promising sector. As it contributes to the creation of many quality jobs, it will also help the company to grow and maintain its enviable position. »

Francois ScarpaleggiaMP for Lac-Saint-Louis

“The COVID-19 crisis has demonstrated how crucial investing in innovation in science is. Thanks to the financial assistance of our government, MedXL will be able to acquire the equipment it needs to continue its growth. We will always be there to support Canadian companies that have a promising future and contribute to of Quebec and from Canada economic development. This is how we will ensure a strong economic recovery across the country. »

The Honorable Pascale St-Onge, MNA for Brome–Missisquoi, Minister of Sports and Minister responsible for CED

“I believe that supporting innovation and local manufacturing by entrepreneurs will be key in from Canada success and prosperity. CED has an important role to play in this effort. The repayable financial assistance provided by CED has been strategically invested in the infrastructure needed to upgrade our existing facilities and purchase new and improved manufacturing equipment. I would like to thank CED for its collaboration and support. »

Paul Parisien, President, MedXL

Fast facts

  • The funds were granted under CED’s Regional Economic Growth through Innovation program. This program is aimed at entrepreneurs who rely on innovation to grow their business and increase their competitiveness, as well as regional economic actors contributing to creating an entrepreneurial environment conducive to innovation and growth for all, in all the regions.
  • SMEs account for 99.7% of Quebec businesses and contribute 50% of the province’s GDP.
  • CED is a key federal partner in of Quebec regional economic development. With its 12 regional business offices, CED supports businesses, support organizations and all regions of Quebec in tomorrow’s economy.

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SOURCE Canada Economic Development for Quebec Regions

For further information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Ariane Joazard-Bélizaire, Press Attaché, Office of the Minister of Sports and Minister Responsible for Canada Economic Development for Quebec Regions, [email protected]

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