Navigation Links
Midwest Health Care Startups Raise $511 Million in First Half of 2012
Date:8/3/2012

CLEVELAND, Aug. 3, 2012 /PRNewswire-USNewswire/ -- (CORRECTED) – Midwest health care startups reported $511 million in total investments across 97 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 $126 million, followed closely by Minnesota whose companies attracted $86 million during the period.  Among regions, Cleveland, Minneapolis, and Chicago were the leading areas for health venture investment in the Midwest.

By sector, the equity funding was as follows:

  • Biopharmaceutical companies: $259 million
  • Medical device companies: $131 million
  • Health care software and service companies: $118 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

    6Ohio126.4

    44

    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

    5Total510.697315.186412.375402.581442.665Table: 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*40.2

    5

    23.8

    4

    7.0

    2

    46.6

    4

    19.2

    2Cleveland104.1

    34

    50.2

    18

    36.7

    17

    30.5

    17

    59.9

    10Columbus8.1

    6

    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. PackH2O Water Backpack to be Showcased at 2nd Annual World Business Council for Sustainable Development US Midwest Meeting
    2. Midwest Health Care Startups Raise $491 Million in First Half of 2012
    3. Jeffrey Modell Foundation Opens Diagnostic Center for Primary Immunodeficiencies at Midwest Immunology Clinic
    4. The Midwest Prepares to Tackle Gnats with an Unlikely Weapon
    5. Midwest Orthopaedics at Rush Minimally Invasive Spine Institute Opens Today
    6. Mylan Applauds Study Highlighting $1 Trillion in Savings for U.S. Health Care System Due to Generic Drugs Over Past Decade
    7. New Study Finds Use of Generic Prescription Drugs Saved Consumers and the U.S. Health Care System $1 Trillion over Past Decade
    8. Ranbaxy Commends New IMS Study Which Credits Generic Prescription Drugs With $1 Trillion Savings In U.S. Health Care Costs Over Past 10 Years
    9. BioDelivery Sciences and Endo Health Solutions Announce Initiation of Enrollment in the Phase 3 Program for BEMA Buprenorphine for Chronic Pain
    10. Survey: Hospital Executives Nationwide Facing Operating Room Case Volume Increases, Seeking Greater Efficiency through Healthcare Information Technology (HIT)
    11. Frost & Sullivan: Improving Economies in Indonesia and Vietnam Present Strong Growth Potential in Healthcare
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:12/9/2016)... , Dec. 9, 2016  RxWiki Inc., a digital ... digital marketing strategies of thousands of pharmacies through its ... Austin Inno,s "50 on Fire" Award in ... "We,re pleased to accept the award as one of ... Chief Executive Officer at RxWiki. "Our platform gives independent ...
    (Date:12/8/2016)... , Dec. 8, 2016 IRIDEX Corporation (NASDAQ: ... newly issued shares of common stock, $0.01 par value (the ... underwritten public offering.  The final terms of the Offering will ... pricing, and there can be no assurance as to whether ... expects to use the net proceeds it will receive from ...
    (Date:12/8/2016)... , Dec. 8, 2016 Global Interventional ... on the global interventional radiology market analyzes the ... report comprises an elaborate executive summary, including a ... segments and sub-segments. The research is a ... formed the bulk of our research efforts along ...
    Breaking Medicine Technology:
    (Date:12/8/2016)... ... December 08, 2016 , ... The Florida Hospital Tampa ... Hyperbaric Medical Society (UHMS), the leading authority in hyperbaric medicine. This accreditation identifies ... few hospitals and facilities have earned this distinction. This is the second time ...
    (Date:12/8/2016)... ... December 08, 2016 , ... Mirixa ... (MTM), adherence, and other pharmacist-delivered patient care services, has announced the promotions of ... Hoessel to vice president of sales. , Litsinger joined Mirixa in 2008 ...
    (Date:12/8/2016)... ... December 08, 2016 , ... SunView Software aims to ... that are both engaging and easy to use. Coming off the heels of ... revealed today its plans to roll out new AI-powered self-service enhancements to help ...
    (Date:12/8/2016)... ... December 08, 2016 , ... California Senate Bill (SB) 863, signed into ... claim in 2013 and 2014, according to CompScope™ Medical Benchmarks for California, 17th ... According to the study, medical payments per claim in California decreased 4 percent in ...
    (Date:12/8/2016)... ... December 08, 2016 , ... ... services from offices headquartered in Hamilton County, is embarking on a charity drive ... specializes in finding new homes for orphaned or neglected senior dogs in the ...
    Breaking Medicine News(10 mins):