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BioEnterprise
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On the Money
Cleveland companies have attracted investment from across the globe.
Since 2002, over $1 billion has been invested in regional start-up companies.
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Since 2003, 80 national healthcare investors, from the east to the west coast, have invested in Cleveland biomedical companies.
Recent, notable investments include:
- $18 million investment by Boston-based HealthCare Ventures in biopharmaceutical company Cleveland HeartLab
- $11.5 million investment by Austin Ventures in health IT company Explorys
- $13 million investment by Aisling (New York), Fidelity (Boston), and Orbimed (New York) in imaging company ViewRay
The rich biomedical environment in Cleveland has drawn the notice of larger strategic firms as evidenced by an increasing number of company exits in recent years.
Notable exits include:
- The acquisition of medical products company, EdgePark Surgical, by Clayton Dubilier & Rice/Goldman Sachs for $850 million
- The sale of healthcare services company, MemberHealth, to Universal American for $630 million
- The acquisition of orthopedic company, Theken Spine, by Integra LifeSciences
For more information, see Cleveland: Biomedical Innovation Destination
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