Study: Cleveland remains top Midwest metro for healthcare investment

A report released this week found that Greater Cleveland remains the leading metro area in the Midwest for health care investment (Source: “Cleveland the leading target for healthcare investment in Midwest,” Cleveland Plain Dealer, July 25, 2013).

According to the Midwest Healthcare Venture Investment Report, which is released by Cleveland-based BioEnterprise, Northeastern Ohio life-science companies attracted about $80 million in venture capital in the first six months of 2013.

While that total is significantly less than the first half of 2012, when healthcare investors poured an unprecedented $104 million into Cleveland-area companies,  observers consider last year to be an anomaly and say the 2013 showing helps solidify the region as a national player in health care innovation

According to the study, 117 Midwest healthcare companies drew about $351 million in private funding in the first half of 2013. Ohio led the Midwest, thanks largely to Cleveland's medical device-makers and bioscience companies.

Ohio attracted $155 million from investors in the first six months of the year. A little more than half of that money came to Greater Cleveland, where $79 million was spread among 27 companies.