Raymond James Ltd. added to its Canadian equity research team Thursday, naming Rahul Sarugaser managing director and equity analyst for healthcare, biotechnology and cannabis.

Sarugaser has a PhD in Biomedical Engineering from the University of Toronto as well as an MBA from Oxford, the firm said in a release. Raymond James has a team of 45 healthcare investment bankers and 15 research analysts covering the healthcare space across North America.

“Our focus will be on covering Canadian growth-oriented firms pursuing enhanced medical solutions in the biotechnology, healthcare, wellness, medical devices and cannabis fields,” said¬†Daryl Swetlishoff, head of research at Raymond James Ltd., in the release.

The firm is also adding equity research associate Michael Freeman, whose background is in engineering and biotechnology.