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Northeast Ohio Ranked Third in Midwest For Biomedical Investments

BioEnterprise, the Cleveland-based firm that conducted research for a Midwest Healthcare report.
BioEnterprise, the Cleveland-based firm that conducted research for a Midwest Healthcare report.

A new report from an organization focused on promoting Northeast Ohio’s biomedical industry finds that the region is ranked third in the Midwest for investments. 

Cleveland-based BioEnterprise has released its 2018 Midwest Healthcare Growth Report, which tracks money invested in the biomedical sector each year. Seventy one Northeast Ohio companies received funding last year, putting the region third behind Minneapolis and Chicago.

BioEnterprise CEO Aram Nerpouni said advances in medical technology from places like Cleveland Clinic and Case Western Reserve University have set the region apart.

“There has been a collective effort over the last fifteen years or so in Northeast Ohio to grow as a center for biomedical innovation and commercialization," he said.

Nerpouni also said innovations and medical technology, such as medical devices, developed in the region make it stand out.

Aram Nerpouni explains what makes the Northeast Ohio region stand out in the biomedical industry.

“Northeast Ohio is, I think, a great place for a company, especially a biomedical company, to grow and thrive because of the talent that is here, because of the research and clinical partners that are here, and just because of how important healthcare is to the region," he said.

The report also shows that Ohio overall had the greatest number of companies with investments in the Midwest last year. 

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Northeast Ohio Ranked Third in Midwest For Biomedical Investments