News & Updates
September 25, 2020: Medical Technology Innovation Company, Thornhill Medical, Ranked as One of The Globe and Mail’s Canada’s Top Growing Companies
Toronto, ON – Canada’s medical technology innovator Thornhill Medical is pleased to announce it has placed #62 on the 2020 Report on Business ranking of Canada’s Top Growing Companies, thanks to verified three-year revenue growth (2017 – 2019) of more than 829 per cent.
This is the first year that Thornhill Medical has appeared on the ranking of 400 Canadian companies. Founded in 2004 as a spin-off of Toronto’s University Health Network, Toronto-based Thornhill Medical is a leading developer of innovative medical technologies, including, amongst others, its proprietary MOVES® SLC™ integrated life-support technology and RespirAct™ RA-MR, its investigational device used in diagnostic procedures to stimulate vascular reactivity. Funded by earnings and a Series A investment, Thornhill Medical’s ground-breaking products are produced to be used around the world by emergency health care providers, military medical teams and disaster relief responders.
The company’s ranking pre-dates its recent contracts with the Governments of Canada and Ontario to produce more than 1,000 of its MOVES® SLC™ device, which functions as a ventilator among other life-support capabilities, in the fight against COVID-19. Canadian Prime Minister Justin Trudeau and Federal Minister of Innovation, Science and Industry Navdeep Bains have each cited Thornhill Medical as one of the companies working hard in the fight against COVID.
“We are extremely proud to rank so highly and be named among some of Canada’s top growing companies,” says Thornhill Medical’s CEO Lesley Gouldie. “Our growth is a direct result of the innovation and efforts of our staff and the trust and support of our partners and customers over the years. This recognition comes at a time when we are working harder than ever to support the health outcomes of Canadians and to advance the growth of Canada’s innovation economy.”
The Globe and Mail’s Top Growing Companies editorial ranking celebrates entrepreneurial achievement in Canada by identifying growth-minded, independent businesses. The full list appears in the October issue of Report on Business magazine – out now – and online at Canada’s Top Growing Companies.
“The stories of Canada’s Top Growing Companies are worth telling at any time, but are especially relevant in the wake of COVID-19 pandemic,” says James Cowan, Editor of Report on Business magazine. “As businesses work to rebuild the economy, their resilience and innovation make for essential reading.”