Why Ohio health care startups saw a 206% funding increase in 2017
Wednesday, February 14, 2018
While there are a number of Midwestern cities that are home to promising health care startups, including Minneapolis and Chicago, Ohio is quickly positioning itself as a major player. The state has seen an influx of funding to health care and life sciences startups, and it produced one of the biggest Midwest startup exits of the year.
Earlier this year, one of the biggest successes in Ohio tech history — the $1.1 billion sale of CoverMyMeds to San Francisco-based McKesson Corp — became a core driver of this trend.
According to Hyde Park Angels‘ own research, drawn from Pitchbook, Mattermark, and internal data sources, Ohio startups raised a total of $574.7 million in venture funding this year, 69 percent of which went to health care companies. Additionally, of the 111 deals done in Ohio, 38 percent of them were in health care, and of the 14 exits in 2017, its largest was in health care.