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:4/27/2016)... SHAWNEE, Kan. , April 27, 2016 /PRNewswire/ ... Martabano , a senior from the University of ... winner of the Bayer Excellence in Communication Award ... veterinary schools, which were awarded a total of ... Over the last four years, Bayer has provided ...
    (Date:4/27/2016)... 27, 2016 Global  urinalysis ... billion by 2022, according to a new report ... (Logo: http://photos.prnewswire.com/prnh/20150105/723757 ) , ... efficiency and accuracy delivered by the new generation ... novel urinalysis instruments and consumables. For instance, the ...
    (Date:4/26/2016)... Hill-Rom Holdings, Inc. (NYSE: HRC ) invites you ... 41 st Annual Health Care Conference on Wednesday, May ... invited to listen to the live discussion via the internet ... http://edge.media-server.com/m/p/mr4uxgas . A recorded replay of the discussion will ... and accessible at the links above until August 1, 2016. ...
    Breaking Medicine Technology:
    (Date:4/30/2016)... , ... April 30, 2016 , ... Orlando-based Maximized Living ... they go for gold in Rio. Under the care of Maximized Living doctors ... , In an unprecedented showing, Maximized Living is sending the largest contingent of elite ...
    (Date:4/29/2016)... (PRWEB) , ... April 29, 2016 , ... ... notified by the Accreditation Council for Graduate Medical Education (ACGME) that it has ... This is the first accreditation of three residency programs that Memorial is currently ...
    (Date:4/29/2016)... ... 2016 , ... Dr. Bernie Siegel, (M.D.) world ... and MIRACLES") addresses touchy topics related to Death live on Dr. Carol ... Bernie Siegel, author of a plethora of essential books-to-read for physicians and all ...
    (Date:4/29/2016)... ... , ... Spine Team Texas, a comprehensive spine physician group specializing in the ... has been invited to be a featured speaker at the Texas Society of the ... 30, 2016. , Dr. R. Scott McPherson, a physical medicine and rehabilitation specialist, ...
    (Date:4/29/2016)... ... , ... Melanoma is the deadliest type of skin cancer. Although only about 1 percent of ... deaths. More than 10,000 people are expected to die of melanoma this year. The risk ... one of the most commonly diagnosed cancers in young women. A recent breakthrough in genetic ...
    Breaking Medicine News(10 mins):