The Raptors made the announcement Tuesday.
Bayless left Toronto's game against Orlando on Monday night with 5:25 left in the second quarter and did not return. He underwent tests Tuesday at Toronto's Mount Sinai Hospital.
Bayless, in his second season with Toronto, is averaging 11.4 points and 3.8 assists in 22.7 minutes per game this season. He had stepped up his play lately, starting five games from March 11-17 and averaging 21.8 points and 7.6 assists.