Canada Lifts Foreign-Investment Cap on Isotope Provider

Canada’s government will lift its existing 25 percent foreign investment restrictions on Nordion Inc., an Ottawa-based company that sells medical isotopes.

Finance Minister Joe Oliver introduced a budget implementation bill today that included amendments to the legislation under which the company operates.

The changes would allow foreigners to take a controlling stake in Nordion as long as the government deems the sale a “net benefit” to Canada. Existing legislation prohibits non-residents from controlling more than 25 percent of Nordion.