Report says Midwest startups down
Midwest health care startups reported $402 million in total investments across 81 companies in the first half of 2009, according to the BioEnterprise (Cleveland) Midwest Health Care Venture Investment Report. The numbers are down 9% compared to the levels of investment seen in the first half of 2008 and significantly lower than 2007's record-setting pace. According to recent data from the National Venture Capital Association, venture investments nationally are down by more than 50% compared to 2008 and are at levels not seen since 1996.
"While Midwest healthcare venture investment is down from 2008, the region's companies are currently faring better than their national peers," said Baiju Shah, president/CEO of BioEnterprise. "However, the venture funding environment remains very challenging for Midwest healthcare start-ups."
Minnesota continued to lead the way in financings, attracting $118 million across twelve healthcare ventures. Ohio and Michigan followed with ventures in those regions attracting $87 million and $65 million respectively. The report aggregates venture investment in 9 Midwest states and Western Pennsylvania.
Cardium, NYSE Amex resolve listing compliance
Cardium Therapeutics (San Diego) said it has received a letter from the NYSE Amex informing Cardium that it had now resolved matters relating to the company's exchange listing compliance.
Cardium was informed by NYSE Amex that based upon a review of publicly available information regarding completion of the sale of Cardium's InnerCool business to Royal Philips Electronics (Amsterdam, the Netherlands), the company has resolved the continued listing deficiencies referenced in the NYSE Amex letters dated Dec. 23, 2008 and April 9, 2009. However, pursuant to Section 1009(f) of the NYSE Amex company guide, the company's Plan Period will remain open until it has been able to demonstrate compliance with the continued listing standards for two consecutive quarters. If the company does not demonstrate compliance for two consecutive quarters and/or by the end of the Plan Period, June 23, 2010, the exchange staff may initiate delisting procedures.
DST Health Solutions gets ISO certification
DST Health Solutions (Birmingham, Alabama), a provider of software and services to health plans and physician practices, has achieved ISO 9001:2008 certification.
"Our goal was to bring consistency and rigor to the software development process," said Tom Hurley, senior VP of technology. "We chose ISO as our foundation for this effort, which helped us implement a quality-driven development process that supports our commitment to client satisfaction."
HealthGrades releases bariatric study
The HealthGrades Fourth Annual Bariatric Surgery Trends in American Hospitals Study released today identifies 88 hospitals as "best" performers (five-star rated), with mortality rates, complication rates and patient lengths of stay that are dramatically lower than poorly rated hospitals.
In the study, HealthGrades (Golden, Colorado), an independent healthcare ratings organization, evaluated the quality of bariatric surgery in hospitals across 19 states that provide all-payer information. The recipient list and full study results can be found at www.healthgrades.com.
California was, on average, the most expensive state for bariatric surgery, with an average charge per procedure of $52,224, the study found. Maryland was the least expensive with an average charge per procedure of $14,577.
Zimmer launches new learning institute
Zimmer Holdings (Warsaw, Indiana) reported the launch of the new Zimmer Institute. Over the past year, Zimmer has collaborated with teaching surgeons and subject matter experts to develop a model for surgeon and clinician training.
A continuum of courses is available through the Zimmer Institute, spanning online learning modules, interactive small group discussions, intensive case study reviews, hands-on cadaver-based training and surgeon-to-surgeon training programs. Course modules have been tailored to match an individual surgeon's experience level, providing in-depth knowledge on products and procedures. Zimmer Institute courses have a high faculty-to-student ratio and incorporate new technologies, promoting greater interaction with faculty trainers and participant collaboration.