Health care startups across the Midwest raised a record $777 million in the first half of 2014, according to a report from BioEnterprise.
This is the highest total since the Cleveland-based business formation, recruitment and acceleration organization’s Midwest Healthcare Venture Investment Report began in 2005.
Wisconsin’s venture health care investment totaled $17.5 million for the first half of 2014 and was spread among four companies. That’s up from $11.5 million among four companies in the first half of 2013.
However, Wisconsin has recorded health care startup investment as high as $50 million among five companies in the first half of 2010.
Minnesota led the pack with $184 million in financings in the first half of 2014. Ohio followed with $155 million and Michigan with $114 million. Minneapolis, Detroit-Ann Arbor and Cleveland had the highest regional investment.
By sector, $342 million went to medical device companies, $240 million to biopharmaceutical companies and $196 million to healthcare software and service companies.
“It’s been a banner first half for Midwest healthcare startups,” said Aram Nerpouni, president and chief executive officer of BioEnterprise. “Investment activity continued its upward trend and the company pipeline once again attracted broad investor interest with a record number of companies receiving funding.”
