Navigation Links
Midwest Health Care Startups Raise $491 Million in First Half of 2012
Date:7/31/2012

CLEVELAND, July 31, 2012 /PRNewswire-USNewswire/ -- Midwest health care startups reported $491 million in total investments across 92 companies in the first half of 2012, according to the BioEnterprise Midwest Health Care Venture Investment Report.  The totals are the highest recorded for the region among the last five years both in dollars of financing and number of companies receiving investment, though still below the 2007 records.

(Logo: http://photos.prnewswire.com/prnh/20101028/DC90488LOGO)

"It's been a great year to date for Midwest health care start-ups," said Baiju R. Shah, President & CEO of BioEnterprise. "The regional company pipeline continues to advance, requiring larger financing rounds and attracting broader investor interest."

Ohio led the way in total financings with companies attracting $106 million, followed closely by Minnesota whose companies attracted $86 million during the period.  Among regions, Minneapolis, Chicago, and Cleveland were the leading areas for health venture investment in the Midwest.

By sector, the equity funding was as follows:

  • Biopharmaceutical companies: $246 million
  • Medical device companies: $142 million
  • Health care software and service companies: $103 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)StateFirst Half 2012First Half 2011First Half 2010First Half 2009First Half 2008$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.Illinois84.3

    4

    18.0

    1

    123.4

    6

    42.6

    4

    34.2

    4Indiana51.6

    9

    10.5

    4

    18.4

    10

    8.9

    4

    41.3

    2Iowa-

    -

    -

    -

    -

    -

    3.0

    1

    4.0

    1Kansas-

    -

    3.0

    1

    18.9

    4

    0.2

    1

    8.0

    1Kentucky25.9

    2

    4.1

    4

    10.5

    2

    0.0

    0

    13.4

    3Michigan55.9

    9

    21.8

    5

    35.8

    5

    64.7

    5

    73.5

    8Minnesota86.1

    9

    88.3

    13

    42.8

    7

    117.6

    12

    106.4

    9Missouri32.4

    1

    32.2

    4

    5.7

    2

    51.0

    3

    25.8

    6Ohio106.5

    39

    80.1

    25

    47.3

    27

    86.9

    33

    84.0

    20Western Pennsylvania 32.8

    12

    8.2

    12

    59.6

    7

    18.6

    12

    25.1

    6Wisconsin15.2

    7

    49.0

    6

    50.0

    5

    9.0

    5

    27.0

    5Total490.692315.186412.375402.581442.665Table: Midwest Health Care Venture Investment (By Region)**RegionFirst Half 2012First Half 2011First Half 2010First Half 2009First Half 2008$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.$ Millions# of Cos.Chicago84.3

    4

    18.0

    1

    123.4

    6

    42.6

    4

    34.2

    4Indianapolis50.5

    8

    10.5

    4

    14.8

    6

    6.9

    3

    41.3

    2West Lafayette-

    -

    -

    -

    2.8

    2

    2.0

    1

    -

    -LouisvilleN/A

    1

    4.1

    3

    10.5

    2

    -

    -

    13.4

    3Detroit-Ann Arbor55.9

    9

    21.8

    5

    31.7

    4

    47.5

    3

    61.0

    5Minneapolis86.1

    9

    88.3

    13

    42.8

    7

    116.9

    11

    106.4

    9St. Louis32.4

    1

    32.2

    4

    5.7

    2

    13.0

    2

    25.8

    6Kansas City*-

    -

    3.0

    1

    18.9

    4

    38.2

    2

    8.0

    1Cincinnati*43.8

    5

    23.8

    4

    7.0

    2

    46.6

    4

    19.2

    2Cleveland83.6

    33

    50.2

    18

    36.7

    17

    30.5

    17

    59.9

    10Columbus5.0

    2

    6.1

    14

    2.6

    4

    9.6

    11

    5.0

    8Pittsburgh 32.8

    12

    8.2

    12

    59.6

    7

    18.6

    12

    25.1

    6Wisconsin15.2

    7

    49.0

    6

    50.0

    5

    9.0

    5

    27.0

    5*Border MSAs such as Kansas City and Cincinnati include deals from both states in those geographies; deals are aggregated into state totals based on the MSA's principal state

    **Regions' totals do not equal states as not all areas are included in list of regions

    Sources: Compiled by BioEnterprise team from Venture Wire, Private Equity Week, Wall Street Journal, Venture Source, SEC Filings, company press releases, www.biospace.com, and Midwest bioscience organizations and institutions.

    About BioEnterpriseBioEnterprise is a business formation, recruitment, and acceleration effort designed to support the growth of bioscience companies. Located in Cleveland, BioEnterprise provides management counsel and support services to health care companies. BioEnterprise partners are Case Western Reserve University, Cleveland Clinic, University Hospitals, Summa Health System, and the BioInnovation Institute in Akron. Additional technology partners include the NASA Glenn Research Center, Cleveland State University, NorTech, and BioOhio.

    The initiative comprises the collective activities of BioEnterprise and its partners' commercialization offices:  the Case Office of Technology Transfer, Cleveland Clinic Innovations, University Hospitals Case Medical Center - Center for Clinical Research and Summa Enterprise Group.  The combined efforts of these groups has created, recruited, and accelerated more than 120 companies in nine years. 


    '/>"/>
    SOURCE BioEnterprise Corporation
    Copyright©2012 PR Newswire.
    All rights reserved

    Related medicine technology :

    1. Jeffrey Modell Foundation Opens Diagnostic Center for Primary Immunodeficiencies at Midwest Immunology Clinic
    2. The Midwest Prepares to Tackle Gnats with an Unlikely Weapon
    3. Midwest Orthopaedics at Rush Minimally Invasive Spine Institute Opens Today
    4. Women Health Expert GC-Rise Launches Obstetrician-gynecologist Prize
    5. Nouveau Life Pharmaceuticals (NOUV) Releases Krill Oil to Support Healthy Cholesterol Levels and Reduce Inflammation
    6. Concordia Study Indicates Obesity is Becoming the Nations Top Health Issue
    7. Radiation Control Technologies, Inc. Announces Exclusive License to Two Patents from the National Institutes of Health
    8. My Health Manager Users More Likely to Remain Kaiser Permanente Members
    9. AspenBio Pharma Executes Worldwide License Agreement for its Animal Health Assets
    10. University of South Alabama Health System Selects Omnicell G4 Solutions
    11. Intrepid Investment Bankers LLC Advises A-Med Health Care in the Sale of its Specialty Pharmacy Assets to Modern HC Pharmacy, Inc., a portfolio company of Altamont Capital Partners
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:10/11/2017)... Oct. 11, 2017  True Health, a leader ... its effort during National Breast Cancer Awareness month ... risks. Research ... calculated that more than 10 million American women ... in BRCA1 or BRCA2 and have not had testing. ...
    (Date:10/5/2017)... ROSEMONT, Ill. , Oct. 5, 2017 /PRNewswire-USNewswire/ ... American Association of Oral and Maxillofacial Surgeons (AAOMS) ... than opioids – to be used as a ... post-surgical pain. ... relationship, the AAOMS White Paper "Opioid Prescribing: Acute ...
    (Date:10/2/2017)... 2017  Eli Lilly and Company (NYSE: ... third quarter of 2017 on Tuesday, October 24, 2017. ... day with the investment community and media to further ... call will begin at 9 a.m. Eastern time. Investors, ... webcast of the conference call through a link that ...
    Breaking Medicine Technology:
    (Date:10/13/2017)... ... October 13, 2017 , ... ... certification process to promote standards of excellence for the field of eating disorders, ... March 22 – 25, 2018 in Orlando, Florida at the Omni Resort at ...
    (Date:10/13/2017)... OBISPO, Calif. (PRWEB) , ... October 13, 2017 , ... ... or dementia. However, many long-term care insurance companies have a waiver for care if ... the 90-day elimination period, when the family pays for care, is often waived, so ...
    (Date:10/13/2017)... ... October 13, 2017 , ... Talented host, actor Rob Lowe, ... in a new episode of "Success Files," which is an award-winning educational program ... investigates each subject in-depth with passion and integrity. , Sciatica occurs when the ...
    (Date:10/12/2017)... , ... October 12, 2017 , ... ... now treating sleep apnea using cutting-edge Oventus O2Vent technology. As many ... sleep disorder characterized by frequent cessation in breathing. Oral appliances can offer significant ...
    (Date:10/12/2017)... ... October 12, 2017 , ... Asante, a nationally ... care, have expanded their existing home health joint venture through an agreement, effective ... operating a joint venture home health company with Asante, delivering clinically integrated care, ...
    Breaking Medicine News(10 mins):