Software and Service sector drives first-half performance
Cleveland, OH, Monday, August 8, 2016 – Midwest healthcare companies attracted $1.04 billion in new equity investments in the first-half of 2016, according to the BioEnterprise Midwest Healthcare Growth Capital Report. This is the largest amount raised in any first-half by the greatest number of companies since BioEnterprise began compiling its report in 2005.
Illinois ($261 million), Minnesota ($226 million), and Missouri ($143 million) led Midwestern states in attracting investment dollars. Chicago ($260 million), Minneapolis ($226 million) and St. Louis ($143 million) were the regional leaders.
“Midwest healthcare continues to perform at record levels, and as with other parts of the country, the software and services sector is clearly driving the surge,” said Aram Nerpouni, president and CEO of BioEnterprise.
Across the Midwest, 2016 mid-year growth capital funding was allocated as follows:
- Healthcare IT and Software and Services companies: $538 million (51%)
- Biotech and Pharmaceutical companies: $280 million (27%)
- Medical Device companies: $226 million (22%)
“Not only have we seen a record first-half, but we are also seeing some of the largest individual deals since BioEnterprise started tracking these numbers,” added Nerpouni. “Accretive Health, a health IT and services company in Chicago reported the largest fundraise, a $200 million PIPE. Minneapolisbased Bright Health, another HIT and services company, raised $80 million, and software and services company Centene, located in St. Louis, raised nearly $70 million in a private placement.” For state and regional results across the Midwest, see the tables below. To view the full report with individual deal financings go to http://www.bioenterprise.com/reports.
For state and regional results across the Midwest, see the tables below. To view the full report with individual deal financings go to http://www.bioenterprise.com/reports.