Jul 26 2006, 1:21 PM EST
News source: Business Wire
Midwest health care startups reported $287 million in total investments in the first half of 2006, according to the Midwest Health Care Venture Investment Report released by BioEnterprise. The total represents a 10 percent increase compared to the like period in 2005; for the second quarter alone, investments increased 36 percent compared to Q2 2005.Illinois leads the states with $101.6 million in new investments, which is more than that state recorded in 2003, 2004, and 2005 combined. The Illinois results were boosted by a $57.0 million investment in NanoSphere that occurred in May 2006; seven other Illinois companies also reported financings. Minnesota ($61.0 million) and Ohio ($47.9 million) continue to report strong results. Of note, Ohio led the Midwest in number of companies that raised capital (14).
The report aggregates venture investment in 10 Midwest states and Western Pennsylvania. Following the leaders are Missouri ($37.2 million) and Western Pennsylvania ($20.1 million). Also, financings were reported in Indiana ($9.5 million), Michigan ($5.6 million), Wisconsin ($3.1 million), and Kentucky ($0.5 million). States not reporting financings included Iowa, Kansas, and West Virginia.
"Health care investments in are gaining momentum in the Midwest," said Baiju R. Shah, President of BioEnterprise. "One of the drivers is increased interest in Midwest biopharmaceutical companies. Traditionally, the Midwest is recognized for its strong medical device deal flow. Increasingly, investors are finding attractive biopharmaceutical deals here. The Midwest distribution across the health care sectors is now the same as the national allocation across the industry."
By sector, the funding was allocated as follows:
-- Biopharmaceutical companies: $154 million (54 percent) in 17 companies, and
-- Medical device companies: $87 million (30 percent) in 19 companies, and
-- Health care software and service companies: $46 million (16 percent) in 12 companies.
The Midwest Health Care Venture Investment Report includes all reported numbers. For complete state-by-state results across the Midwest, see the attached table.
Additional data about Health Care business activity in the Midwest can be viewed at http://www.bioenterprise.com/reports/index.html.
Subscribe to RSS
Email
Print
Share
More News Table: Midwest Health Care Venture Investment
State First Half 2006 First Half 2005
----------------------------------------------------------------------
$ Millions # of Cos. $ Millions # of Cos.
----------------------------------------------------------------------
Illinois 101.6 8 12.5 5
----------------------------------------------------------------------
Indiana 9.5 4 1.5 1
----------------------------------------------------------------------
Iowa - 0 - 0
----------------------------------------------------------------------
Kansas - 0 - 0
----------------------------------------------------------------------
Kentucky 0.5 1 19.3 2
----------------------------------------------------------------------
Michigan 5.6 3 8.5 2
----------------------------------------------------------------------
Minnesota 61.0 7 85.6 14
----------------------------------------------------------------------
Missouri 37.2 7 41.6 4
----------------------------------------------------------------------
Ohio 47.9 14 72.2 6
----------------------------------------------
ADVERTISEMENT
INTERVIEW:
NEW PROGNOSTIC GENETIC TEST FOR ADOLESCENT SCOLIOSIS - Interview with Dr. Baron Lonner, director of Scoliosis and Spine Associates
...MORE
NewsArticles BlogsADVERTISEMENT
Listen
Save
Comment
View All