Biomedical Industry

ClevelandPlus offers incomparable access to world-class research and clinical institutions, a talented workforce, and a supportive funding environment including programs to accelerate the development of biomedical companies.

Why Northeast Ohio

The biomedical industry is a driving force in Northeast Ohio. While the region has long been a leader in healthcare, our 60 hospitals, 30 colleges and universities, strong manufacturing capabilities, plus billions of dollars in private and public investment are making the region a premiere location for biomedical business:

  • THRIVING BIOMEDICAL INDUSTRY: The region’s industry is growing on average by 7.4% annually and today is home to 600+ biomedical businesses.
  • COMMITMENT TO GROWTH: The rapid expansion of the biomedical sector is the result of collaborative efforts of area leaders, research and clinical institutions, venture capital, commercialization and talent development programs. Northeast Ohio biomedical companies have attracted over $800 million in new equity investment since 2003.  
  • WORLD-CLASS HEALTH SYSTEMS: The region’s nationally-ranked institutions including Cleveland Clinic, University Hospitals, and Summa Health System are recognized for providing exceptional patient care and conducting leading-edge clinical research.
  • TOP TALENT AND TRAINED WORKFORCE: Over 230,000 health care and bioscience workers are employed by the region’s companies and healthcare institutions.
  • MEDICAL MART: Designed to bring buyers and sellers together, Cleveland’s Medical Mart and Convention Center will be the only facility targeted specifically to the medical and healthcare industries. The Medical mart will house 120,000 sq. ft. of permanent showrooms for major medical manufacturers and service providers.

BioMedical News

Celartia gets tax credit to set up new Ohio office
June 29, 2010
Summary: Laboratory equipment manufacturer Celartia Ltd. has received a six-year, 45 percent tax credit to create a new office in Ohio. In return for the tax credit, which is valued at about $123,000, the Spanish company would create 19 jobs generating $1.4 million in annual payroll within three years of beginning operations in the state, according to a statement from the Ohio Department of Development.
Continue Reading Celartia gets tax credit to set up new Ohio office
What Works: Local bio-tech company makes MRI machines
June 13, 2010
Summary: Chances are if you've ever had an MRI, it was most likely done with a machine that was built and produced right here in Northeast Ohio. You would never know it from the outside but inside Quality Electrodynamics is the present and future of high-tech medicine. QED makes site-specific coils for every part of the body that may need to be scanned. Since inception 2005 the company has blossomed in the growing bio-medial industry in Northeast Ohio and have received prestigious awards, including Forbes Magazine most promising companies.
Continue Reading What Works: Local bio-tech company makes MRI machines
VIDEO: What Works: Local bio-tech company makes MRI machines
June 13, 2010

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