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Kelowna home to five of Canada's fastest growing companies

They make cannabis extraction equipment, build rental apartments, develop employee-communication software, manufacture aviation audio equipment and operate a corporate wellness platform.

They are the five Kelowna businesses on the 2020 Canada's Top Growing Companies list.

The Globe and Mail newspaper's Report on Business section has the list of 400 compiled every year to identify the fastest-growing companies in the nation based on three-year revenue growth.

Vitalis Extraction Technology was the top-ranked Kelowna company taking No. 3 on the list with an astounding 8,090% revenue growth over the last three years.

<who> Photo Credit: Contributed. </who> James Seabrook, left, Joel Sherlock and Pete Patterson co-founded Vitalis Extraction Technology, the Kelowna-based manufacturer of extraction equipment for the cannabis, pharmaceutical, food and beverage and essential oils sectors.

Vitalis makes carbon dioxide extraction systems for the cannabis, pharmaceuticals, food and beverage and essential oils industries.

Although, it has achieved most of its attention and revenue for supplying the burgeoning legal cannabis sector.

"We're proud to reach this milestone as we approach our 5th birthday," said Vitalis co-founder and chairman Joel Sherlock.

"We're excited to maintain this momentum of growth moving forward with our sights set on new products and new markets."

Vitalis had 2019 revenue between $25 million and $50 million (the list gives a range, not an exact number) and has 97 employees.

Highstreet Ventures took No. 34 on the list with 1,543% growth in the $25 million to $50 million annual revenue range.

Highstreet develops, builds and operates rental apartment complexes such as Mission Flats in Kelowna, Carrington View and Carrington Place in West Kelowna, Skaha Shore in Penticton and Creekview Heights in Vernon.

<who> Photo Credit: Contributed. </who> Scott Butler is president of Highstreet Ventures, the developer, builder and operator of several rental apartment complexes in the Okanagan.

Bananatag, which has annual revenue between $5 million and $10 million, was No. 132 with three-year revenue growth of 350%.

Bananatag develops employee-communications software.

Jupiter Avionics ranked No. 212 with 190% growth and has annual revenue between $2 million and $5 million.

It's 23 employees design and make airborne audio communications equipment.

Core Health Technologies, which operates a platform for corporate wellness programs, ranked No. 371 with 76% growth in the $2 million to $5 million annual revenue range.

By the way, ranked No. 1 is Toronto-based RX Drug Mart, which acquires, opens and operates independent pharmacies, for its 13,940% growth over three years in the $100 million to $250 million annual revenue range.

"The stories of Canada's Top Growing Companies are worth telling at any time, but are especially relevant in the wake of the COVID-19 pandemic," says Globe and Mail published Phillip Crawley.

"Their growth helps to make Canada a better place."



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