Baiju R. Shah, President & CEO of BioEnterprise, the Cleveland-based biomedical venture developer said, Overall, the past year was a difficult one for emerging health care ventures in the Midwest and nationally, though investment activity picked up towards the end of 2010. Surprisingly, the number of companies receiving investments has remained consistently high through the recession. This is likely due to both the growth of Midwest-based funding sources as well as growing interest nationally in investing in the Midwest.
By sector, the 2010 equity funding was allocated as follows:
* Medical device companies: $278 million (38%)
* Biopharmaceutical companies: $358 million (49%)
* Health care software and service companies: $100 million (14%)
The Midwest Health Care Venture Investment Report includes all reported numbers and regionally collected data. For complete state and region results across the Midwest, see the attached table. To view additional data about Midwest health care business activity visit www.bioenterprise.com/Reports/.