Cleveland, OH, January 27, 2014 – Midwest healthcare companies attracted $758 million in new investments across 217 companies in 2013 according to the BioEnterprise Midwest Healthcare Venture Investment Report. As with the nation-wide trend, Midwest investment decreased from 2012. Ohio ($296 million) and Minnesota ($228 million) led Midwestern states in attracting investment dollars; Minneapolis and Cleveland were the leaders among Midwest regions.
"Overall, Midwest healthcare investment activity reflects the nation-wide decrease in healthcare investing; however, Midwest investment remains strong, outpacing 2009 and 2010 in investment dollars attracted. In addition, greater numbers of Midwest healthcare companies received funding in 2013 than in any of the previous 5 years,” said Aram Nerpouni, President & CEO of BioEnterprise. “The Midwest has developed a robust pipeline of high quality companies.”
By sector, the 2013 equity funding was allocated as follows:
Medical device companies: $423 million (59%)
Biopharmaceutical companies: $183 million (25%)
Healthcare IT and service companies: $117 million (16%)
"The Midwest, in contrast to other parts of the country, remains strong in the medical device sector; in addition, the healthcare IT sector is showing signs of steady growth, with increasing numbers of companies funded each year," said Nerpouni. “We anticipate an ever-growing pipeline of companies, primarily in the medical device sector and followed by healthcare IT.”
The Midwest Healthcare Venture Investment Report includes all reported numbers and regionally collected data. For complete state and region results across the Midwest, see the attached table. To view additional data about Midwest healthcare business activity
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