Ohio’s Biomedical Industry Is a Leader in the Midwest

BioEnterprise's report of Midwest biomedical investments ranks Ohio one of the leaders
Posted on

Every year, BioEnterprise, an Ohio organization that helps Northeast Ohio bioscience companies with growth, releases its Midwest Healthcare Growth Capital Report containing the previous year’s biomedical investments in the Midwest.

According to the recently released 2017 report, Ohio biomedical and health care companies last year attracted equity investments totaling $503.2 million, the third highest amount among the 11 Midwestern states included in the report. The investments supported 133 deals, more than any other of the 11 states. The health care IT and software services subsector raised the most money at $194.7 million, while biotech companies raised $162 million and device companies raised $146.5 million.

Ohio added 30 biomedical and health care companies between 2016 and 2017, putting the total at 105. Ohio surpassed Minnesota and now has more biomedical and health care companies than any of the 11 Midwestern states.

With an abundance of health care thought leaders and innovation drivers, Ohio’s strong health care industry has been a national and international hotbed of medical discovery. Everything from 3D printing, early-stage prediction of cardiovascular risk, innovative medicines and gene therapy are thriving thanks to Ohio’s proven health care industry.

Read more about how Ohio, other states and the Midwest as a whole fared in the Midwest Healthcare Growth Capital Report 2017.