– Midwest healthcare companies attracted $1.8 billion in new
investments across 243 companies in 2014, according to the
BioEnterprise Midwest Healthcare Growth Capital Report.
totals are the highest recorded in both dollars and number
of companies funded since BioEnterprise began filing the
report in 2005, surpassing the banner 2007 by 46 percent and
2013 by 135 percent.
Ohio ($499 million) and Minnesota ($406 million) led
Midwestern states in attracting investment dollars;
Minneapolis ($403 million) and Cleveland ($398 million) were
the leaders among Midwest regions. In both states and
regions the number of companies receiving funding decreased.
"Interestingly, several Midwest states and regions, such
as Illinois and Wisconsin, experienced large increases in
both funds attracted and companies funded," said Aram
Nerpouni, president and CEO of BioEnterprise. "All in all
there is a robust pipeline of attractive healthcare
companies in all stages building rapidly in the Midwest."
largest reported Midwest deal occurred in Wisconsin, where
Shine Medical Technologies, a biotech company, raised $125
million. Naurex, an Illinois biotech, attracted two
significant raises in 2014, totaling $105 million.
sector, the 2014 growth capital funding was allocated as
Biopharmaceutical companies: $629 million (35
Medical device companies: $593 million (33 percent)
Healthcare IT and service companies: $562 million (32
additional data about Midwest healthcare business activity,