Story excerpt provided by Healthcare Informatics.
Written by Heather Landi.
Midwest healthcare companies attracted $2.5 billion in new equity investments in 2017, a 38 percent increase over 2016, according to the BioEnterprise Midwest Healthcare Growth Capital Report.
For the first time since the study began in 2005, healthcare software and services sector took the lead with $1.2 billion, or 47 percent of funding.
The Midwest Healthcare Growth Capital Report compiles data from Pitchbook, SEC Filings, company press releases, news items and regional Midwest organizations. The report details investments in three biomedical sectors: medical device, biotechnology and pharmaceuticals, and healthcare IT/software and services.
Last year, Outcome Health, a Chicago health IT and software services company, reported a $500 million deal—the largest fundraise in the Midwest and the largest single raise in the report’s history. Minneapolis had the second largest raise, $160 million by Bright Health, and Cincinnati-based PatientPoint secured a $140 million raise.
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Originally published March 23, 2018.