Minnesota continues to be a hub for health technology innovation and financial investment, with 2016 being a breakthrough year for the digital health sector. Detailed in the Medical Alley Association’s Q2 Quarterly Investment Report, the start of 2016 represents record investment in health technology in Minnesota, raising $227 mil in the first half of the year. The previous record was $213 mil raised in 2009. The growth in the digital health sector was particularly strong, up from $18.4 mil in 2012 to over $101 mil in 2016, and points toward the growing strength of that industry in Minnesota.
Key findings in the Q2 report include:
- In the first half of the year, Minnesota companies raised over $227 mil; the second quarter alone represented $174 mil in capital investment.
- A total of 64 companies have completed a capital raise thus far in 2016.
- Digital health sector leads Q2 for investment total for first time ever, with over $101 mil invested in 2016 with 50% of the companies raising $1 mil or more.
- Medical device companies continue to generate impressive investment with over $102 mil in the first half of the year; this total is the second highest half in the last five years.
Medical Alley Association