Welcome!

News Feed Item

Midwest Healthcare Startups Raise $758 Million in 2013

Ohio and Minnesota Leading States

CLEVELAND, Jan. 27, 2014 /PRNewswire-USNewswire/ -- 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.

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

"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 visit www.bioenterprise.com/reports.

Table:  Midwest Healthcare Venture Investment (By State)

State

2013

2012

2011

2010

2009


$ Millions

# of Cos.

$ Millions

# of Cos.

$ Millions

# of Cos.

$ Millions

# of Cos.

$ Millions

# of Cos.

Illinois

30.1

10

146.2

10

44.2

9

160.9

11

38.9

8

Indiana

31.9

18

64.7

11

14.1

9

25.05

16

76.3

14

Iowa

-

-

-

-

-

-

7.3

1

36.8

3

Kansas

10.2

2

-

-

18.5

2

14.5

13

4.3

5

Kentucky

10.4

2

33.8

4

11.5

7

11.4

4

97.3

7

Michigan

70.2

16

107.1

16

30.8

16

76.3

12

102.2

14

Minnesota

227.7

74

164.7

17

223.3

24

138.7

20

199.0

23

Missouri

19.1

7

57.2

6

168.7

9

19.9

9

65.8

8

Ohio

295.8

69

291.7

70

177.8

67

147.2

47

105.4

40

Western Pennsylvania

46.2

12

81.5

37

67.0

25

86.2

20

37.8

24

Wisconsin

16.8

7

48.8

11

53.8

9

51.3

9

16.2

10

Total

758.4

217

995.7

182

809.7

177

738.8

162

780.0

156

Table:  Midwest Healthcare Venture Investment (By Region)**

Region

2013

2012

2011

2010

2009


$ Millions

# of Cos.

$

Millions

# of Cos.

$  Millions

# of Cos.

             $           Millions

# of Cos.

$ Millions

# of Cos.

Chicago

30.1

9

146.2

9

44.2

9

160.9

11

38.9

8

Indianapolis

20.6

11

64.7

10

11.5

7

18.5

9

41.2

9

Louisville

10.4

2

7.9

3

11.4

6

11.4

4

2.5

4

Detroit-Ann Arbor

65.2

10

107.1

15

23.0

10

46.5

8

68.8

7

SW Michigan

4.5

5

-

-

7.8

6

29.8

4

14.5

5

Minneapolis

227.7

74

162.4

15

223.3

24

138.7

20

199.0

23

St. Louis

19.1

7

57.2

6

112.7

8

18.9

9

27.8

7

Kansas City*

10.2

2

-

-

18.5

2

15.4

13

42.3

6

Cincinnati*

53.8

5

77.3

12

37.3

6

8.5

4

121.2

8

Cleveland

201.2

50

226.5

43

124.7

40

135.1

33

66.3

21

Columbus

40.9

14

13.3

11

15.1

19

3.1

5

12.4

13

Pittsburgh

46.2

12

81.5

37

67.0

25

86.2

20

37.8

24

Wisconsin

16.8

7

48.8

11

53.8

9

51.3

9

16.2

10

* 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 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 BioEnterprise
BioEnterprise 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 healthcare companies. BioEnterprise partners are Case Western Reserve University, Cleveland Clinic, University Hospitals, Summa Health System, and the Austen 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 170 companies in eleven years.

SOURCE BioEnterprise

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
In the fast-paced advances and popularity in cloud technology, one of the most critical factors revolves around concerns for security of your critical data. How to assure both your company and your customers they can confidently trust and utilize your cloud environment is most often top on the list. There is a method to evaluating and providing security that exceeds conventional modes of protecting data both within the cloud as well externally on mobile and other devices. With the public failure...
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.