Midwestern healthcare startups raised $1.7B in 2016

The Midwest is a booming area for growing healthcare technology companies, according to the BioEnterprise Midwest Healthcare Growth Capital Report.

Here are four findings from the analysis.

1. In 2016, 375 Midwestern healthcare companies raised $1.7 billion in new equity investments.

2. Three Midwest states — Minnesota ($424 million), Illinois ($327 million) and Ohio ($291 million) — gained the highest amount of funding.

3. Four major cities — Minneapolis ($422 million), Chicago ($324 million), St. Louis ($242 million) and Cleveland ($198 million) — led the way in gaining funds.

4. The Midwest funding went to three major sectors: medical device companies ($696 million), health IT and software and service companies ($697 million) and biotech and pharmaceutical companies ($353 million).

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