Cleveland, OH, February 20, 2017 – Midwest healthcare companies attracted $1.7 billion in new equity investments in 2016, according to the BioEnterprise Midwest Healthcare Growth Capital Report. A record 375 Midwest healthcare companies raised the 2nd largest amount in recorded history, edging within $60 million to the record-breaking 2014 year.
Minnesota ($424 million), Illinois ($327 million) and Ohio ($291 million) led Midwestern states in attracting investment dollars. Minneapolis ($422 million), Chicago ($324 million), St. Louis ($242), and Cleveland ($198 million) were the leaders in the Midwest regions.
“Midwest healthcare continues to perform at historic levels,” said Aram Nerpouni, president and CEO of BioEnterprise. “From 2015 to 2016 we saw an 11% increase in investment and an 19% increase in companies raising that investment. Within the past five years (2011-2016), the number of companies raising money, and the amount raised, has more than doubled.”
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