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Midwest Health Care Startups Raise $572 Million Through Q3 2010
Date:10/28/2010

CLEVELAND, Oct. 28 /PRNewswire/ -- Midwest health care startups reported $572 million in total investments across 111 companies through the first three quarters of 2010, according to the BioEnterprise Midwest Health Care Venture Investment Report.  Similar to last year, while the total dollar levels are lower than the pre-recession years, the number of companies financed remains the same.  

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"Funding for health care is reduced due to the recession and concerns surrounding the impact of health care reform on innovation," said Baiju R. Shah, President & CEO of BioEnterprise.  "Given the broader environment, it is encouraging to see so many Midwest health care companies attracting capital."

Illinois and Ohio lead the way in dollars of financings with companies in those states attracting $148 million and $89 million.  Minnesota, Michigan, and Wisconsin followed those states.  The report aggregates venture investment in 9 Midwest states and Western Pennsylvania.  

By sector, the equity funding was as follows:

  • Biopharmaceutical companies: $345 million
  • Medical device companies: $190 million
  • Health care software and service companies: $37 million

    • The Midwest Health Care 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 health care business activity visit http://www.bioenterprise.com/Reports.Table: Midwest Health Care Venture Investment (By State)StateThru Q3 2010Thru Q3  2009Thru Q3 2008Thru Q3  2007$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.
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