Ohio's Biomedical Industry Is a Leader in the Midwest
Thursday, April 26, 2018
BioEnterprise's report of Midwest biomedical investments ranks Ohio one of the leaders
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.