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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.