Ohio Companies Led in Healthcare Deals in 2018

Ohio is a leader in healthcare, and BioEnterprise’s latest report reinforces that claim. BioEnterprise, a catalyst in growing Northeast Ohio’s bioscience industry, has released the 2018 edition of its annual Midwest Healthcare Growth Capital Report.

The report captures capital investments made in biomedical companies across 11 Midwest states in three sectors: medical devices, biotechnology and pharmaceuticals, and health IT and software services.

According to the report, Ohio outperformed all other states in the Midwest with 180 deals from 121 biotech and healthcare companies. Ohio raised a total of $561.5 million, an amount greater than any other state except Minnesota. Of that total, $209.2 million went to medical device companies, $196.8 million went to health IT and software and services companies, and $155.1 million went to biotech companies.

In addition, Cleveland and Columbus placed second and third for both investment dollars and for the number of companies attracting the investments. A total of 71 companies in Cleveland attracted $294 million, while 29 companies in Columbus attracted $163 million.

Since 2014, Ohio has attracted nearly $2.2 billion in healthcare investment, the second highest in the Midwest.

Ohio is where some of the world’s best healthcare institutions, thought leadership and R&D resources come together. Companies are locating to Ohio to take advantage of the state’s outstanding healthcare environment. Here, they can find talent, engage in research and leverage partnerships to discover cures and treatments with the potential to impact lives. From bench to bedside, Ohio’s healthcare industry makes a difference, and this report validates that Ohio is a top destination for healthcare investment in the Midwest.