Frank Baylis and Kris Shah announce huge deal for the cardiology devices business they built
A company that is co-owned by former classmates at Waterloo Engineering has hit pay dirt with the sale of its cardiology business for US $1.75 billion.
Baylis Medical Company Inc., which is co-owned by Frank Baylis (BASc ’86, electrical engineering) and Kris Shah (BASc ’86, electrical engineering), announced this week that it has reached a deal with Boston Scientific Corp. that is expected to close in the first quarter of 2022.
Baylis, executive chairman of the Montreal-based business, and Shah, the president, met during a co-op placement during their first year as engineering students at Waterloo.
In 1989, they both joined Baylis Medical – which had been started by Baylis’s mother, Gloria, three years earlier – and built it into a leading medical devices company with offices worldwide. They previously sold two other divisions to major US companies.
Read the full article.