Cleveland Clinic focuses on commercializing medical products

Story excerpt provided by Plastics News.

Written by Bill Bregar.

Two programs at the Cleveland Clinic are pushing new medical technology — efforts that are leading to better health care and economic development in Ohio through startup companies. The Global Cardiovascular Innovation Center is housed at the Cleveland Clinic campus, but the organization works with universities, technology companies and economic development officials, Gene Jung told attendees at the Plastics in Medical Devices conference. A $60 million Ohio Third Frontier grant kicked it off in 2007.

Jung said the GCIC has helped 18 new businesses start in Ohio, which have attracted $700 million of follow-on financing. Currently, 28 startups are housed in a business incubator the center runs.

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Originally published May 28, 2014.

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