Sept 10th, 2009New Firm sets up in Holman Building

The historic Holman building in downtown Summerside will be the home of a new company focused on providing remote patient monitoring systems. Medical Devices & Diagnostics (MDDx) uses wireless monitoring technology to provide real-time, remote medical diagnostic monitoring and reporting services between cardiovascular patients and their health-care providers. The company, created by Pearl Capital Group of New York, is expected to employ up to 20 people in Summerside within two years. Premier Robert Ghiz said, "This innovative company complements our government's innovation and economic development strategy, 'Island prosperity: A Focus for Change'. MDDx also strengthens the development of the e-Heath Centre of Excellence at the Holman building in downtown Summerside."

Coun. Brent Gallant, chair of the city's economic development committee, said officials have been looking for a centre of research for such a product as part of a larger economic plan that would offer a service not yet available to the public. "We have to carve out a niche and go after that rather than competing across the province and having a tug-of-war for different things that may come along," Gallant said. "It gives us an identity that we can focus on and move on with that."

The Holman building is also the new home of the province's Department of Education moving to Summerside this fall. Gallant said a lot of time and money has been invested by the Summerside Regional Development Corp. in bringing the historic Holman building to the stage where it can accommodate new economic opportunities. "The hard work that went into developing that space... is starting to pay dividends," Gallant said. "We've always maintained that the lack of activity there was the lack of space. Now with that space things seem to be coming together nicely."

The launch of MDDx was made possible through an investment by the Boeing Company. The investment is in line with Canada's Industrial and Regional Benefits policy and has been credited to Boeing's reinvestment plan associated with the acquisition of four multi-mission transport aircraft delivered to the Canadian Forces. "Boeing is dedicated to delivering on the promises it makes to invest in the regions where we do business, as this investment in MDDx demonstrates," said Gwen Kopsie, a director with Boeing Integrated Defense Systems. "We are committed to creating partnerships that result in long-term, high-value jobs for Canadians."

"We are pleased to see world leaders such as Boeing and Pearl Capital Group select Prince Edward Island as a location to do business," said Allan Campbell, minister of Innovation and Advanced Learning. "The Island's labour force continues to be an attractive selling feature when recruiting new companies to the province. "MDDx will create highly-skilled, well-paying jobs for Islanders." The Province is supporting MDDx with a labour rebate agreement of up to $500,000 for the first 20 positions created. Government is also investing in a $100,000 strategic infrastructure rebate for the purchase of equipment and technical infrastructure.