We propose a framework of efficient nonlinear deformable simulation with both fast continuous collision detection and robust collision resolution. We name this new framework Medial IPC as it integrates the merits from medial elastics, for an efficient and versatile reduced simulation, as well as incremental potential contact, for a robust collision and contact resolution. We leverage medial axis transform to construct a kinematic subspace. Instead of resorting to projective dynamics, we use classic hyperelastics to embrace real-world nonlinear materials. A novel reduced continuous collision detection algorithm is presented based on the medial mesh. Thanks to unique geometric properties of medial axis and medial primitives, we derive closed-form formulations for identifying between-primitive collision within the reduced medial space. In the meantime, the implicit barrier energy that generates necessary repulsion forces for collision resolution is also formulated with the medial coordinate. In other words, Medial IPC exploits a universal reduced coordinate for simulation, continuous self-/collision detection, and IPC-based collision resolution. Continuous collision detection also allows more aggressive time stepping. In addition, we carefully implement our system with a heterogeneous CPU-GPU deployment such that massively parallelizable computations are carried out on the GPU while few sequential computations are on the CPU. Such implementation also frees us from generating training poses for selecting Cubature points and pre-computing their weights. We have tested our method on complicated deformable models and collision-rich simulation scenarios. Due to the reduced nature of our system, the computation is faster than fullspace IPC or other fullspace methods using continuous collision detection by at least one order. The simulation remains high-quality as the medial subspace captures intriguing and local deformations with sufficient realism.