Investment in medical device companies in Minnesota topped the $300 million mark for a 3rd year in a row last year, according to a report from the Medical Alley Assn., the North Star State’s life sciences business council.
Medical device outfits led the $434.9 million raised by Minnesota healthcare companies in 2015, according to the report, with $302 million raised. Although that’s down -6.3% from 2014, the number of companies that raised money rose 7.0% to 46 compared with 2014. The median deal size for a Minnesota medtech business last year was $1 million, according to the report.
“This level of funding is a testament to Minnesota’s position as a global leader,” vice president of intelligence & research Cheryl Matter said in prepared remarks. “These investments help ensure that companies across the state and region continue to innovate and set new standards in health technology.”
Last year also saw record highs for both large deals of $7 million or more, and 1st-time financings, according to the Medical Alley report.
Earlier this month, the former LifeScience Alley returned to its roots, rebranding as Medical Alley.