MINNEAPOLIS--(BUSINESS WIRE)--Medical Alley Association released their mid-year report Monday, showing a strong first half for Medical Alley investment.
Medical Alley companies raised $261.6 million in the first half of the year, their second-best mark in the last five years, and signs are pointing to an active third quarter for angel- and seed-stage companies. The median raise in Q2 was $1.7 million, a five-year best for the second quarter. Merger and acquisition activity is also going strong in Medical Alley, with more than $15 billion spent in the second quarter alone.
Investors showed strong interest in companies focused on cardiovascular health, particularly those treating heart failure. Big data and health IT companies also drew strong interest from investors in the first two quarters.
Q2 did show a slight decrease in the number of companies raising money, due in part to companies and investors awaiting the reinstatement of the Angel Tax Credit Program, which was successfully revived during the 2019 Minnesota legislative session. The revival of this key program will likely result in an active third quarter with more companies raising funds, particularly at the lower dollar amounts.
With a strong first half in the books and concrete signs of strength at both ends of the startup spectrum, 2019 is shaping up to be another huge year for investable companies in Medical Alley.
To learn more and see the full report, visit Medical Alley Association here.
About the Medical Alley Association
Founded in 1984, the Medical Alley Association supports and advances the global leadership of Medical Alley’s healthcare industry, and its connectivity around the world. MAA delivers the collective influence, intelligence and interactions that support Medical Alley.