Keltic Canada Development announced that it is breaking ground on a new health-innovation project.
“Our team is thrilled to finally be breaking ground,” said managing director Rachel Li Lei.
The Vancouver-based Keltic is teaming up with global medical technology company Masimo to develop a multi-level facility.
“We’re proud to see that our reputation as a leader in the life sciences sector has helped lead Masimo to expand their operations in B.C.,” stated Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation.
The project site is located at historic 220 Prior Street near the eastern half of the false creek. It marks the first building in the Healthcare Precinct in the FLATS district. At 100,000 square feet, it will feature clinical research, product development, and retail spaces.
“We are excited to work with Masimo and to be a part of such a positive project for the medical industry in Vancouver,” remarked Li Lei.
California-based Masimo’s expansion into Vancouver comes with some job creation.
“Our StrongerBC Economic Plan is focused on preparing British Columbians for the careers of the future—including the 170 good-paying jobs Masimo is announcing here today,” noted Kahlon.
With a “focus on developing solutions to the most challenging issues in healthcare,” Masimo is the ideal fit for this project, believes Keltic. The project itself “will become a cornerstone of research and innovation in B.C. and Canada,” according to the company.
“We are committed to strengthening and providing Canadians with facilities that promote a healthy standard of living within their communities,” added Li Lei.
Keltic is a Canadian-owned real estate development company that was founded in 2016 in Vancouver. Masimo, established in 1989, develops and manufactures a variety of patient monitoring technologies, hospital automation solutions, and ventilation solutions.