Midwest healthcare companies attracted $967 million in new equity investments in the first-half of 2017, according to the BioEnterprise Midwest Healthcare Growth Capital Report.
“Midwest healthcare investment continues to perform at historic levels,” said Aram Nerpouni, president and CEO of BioEnterprise. “The Midwest just missed its second consecutive $1 billion start to the year.”
Minnesota ($337 million), Ohio ($294 million), and Michigan ($90 million) led Midwestern states in attracting investment dollars. Minneapolis ($331 million), Cincinnati ($207 million) and Cleveland ($65 million) were the regional leaders.
“A comparison of the past five years’ first-half data shows the transformation from a device-dominated region to a more balanced one due to remarkable growth in the software and services sector,” said Nerpouni. “The biotech and pharmaceutical sector has maintained a steady share over this time period, with investment increasing by 175%.”
“As would be expected with overall investment numbers climbing, the number of deals and number of companies funded has steadily increased,” continued Nerpouni. “Although there was a slight decrease in the first-half of 2017 from the first- half of 2016, the upward trend remains clear.”
The largest deals in the Midwest during the first-half of 2017 were in the software and services sectors. Bright Health (Minneapolis) and Patient Point (Cincinnati) raised $160 million and $140 million, respectively.
The Midwest Healthcare Growth Capital Investment Report is funded, in part, by The Fund For Our Economic Future, the Cleveland Foundation and the Burton D. Morgan Foundation.
To view the full interactive report, visit http://tabsoft.co/2xG6WYh.