A nice write up in Business Week

 

Israeli Biotechs Find Partners in Ohio

 

BioEnterprise, founded by Cleveland hospitals and universities to support biosciences in the region, helps connect the Israeli companies with capital, medical expertise, and management teams in the state. The group helped Simbionix, a medical device maker that now employs 80 people, transfer its headquarters from Israel to Cleveland. The Global Cardiovascular Innovation Center, a partnership backed by the state of Ohio that funds development of health-related products, has invested in five Israeli biotechs, says GCIC director Thomas Sudow. "Israeli companies provide hospitals here the opportunity to work with leading innovators," Sudow says.

 

http://www.businessweek.com/smallbiz/content/nov2010/sb20101117_584843.htm

A rash of stories today in Crain's regarding our biotech/medical device industry:

 

Boston Scientific Corp. pays $60 million for Intelect Medical, a Cleveland Clinic spinout

By CHUCK SODER

10:09 am, January 6, 2011

 

Boston Scientific Corp. has paid $60 million to acquire a Cleveland Clinic spinout company that recently moved to Boston from Cleveland even though its technology was created with the help of a state grant.

 

The company, Intelect Medical Inc., is developing software that Boston Scientific plans to combine with its Vercise deep brain stimulation system. The Guide software system is designed to help clinicians visualize stimulation fields in the brain and provide more precise targeting of stimulation therapies. It was unclear this morning whether Boston Scientific plans to use Intelect's other deep brain stimulation technologies.

 

More at:  http://www.crainscleveland.com/article/20110106/FREE/110109908

 

 

 

U.S. Endoscopy buys building in Mentor near its existing operations

By DAN SHINGLER

3:12 pm, January 6, 2011

 

U.S. Endoscopy in Mentor is following through on expansion plans it made last year and has purchased a 70,000-square-foot building adjacent to its existing operations on Heisley Road.

 

The company, which employs about 375 after adding 50 new employees in 2010, will move into the building by the end of 2011. The building formerly housed CR Bard Inc., a U.S. Endoscopy competitor.

 

More at:  http://www.crainscleveland.com/article/20110106/FREE/110109904

 

 

CardioInsight Technologies Inc. strikes deal with Japanese distributor

By CHUCK SODER

3:19 pm, January 6, 2011

 

CardioInsight Technologies Inc. has struck a deal with a Japanese distributor that will invest in the Cleveland-based company and work to commercialize its medical imaging technology in Japan.

 

In addition to the deal with the distributor, DVx of Tokyo, CardioInsight announced that it plans to launch its EC Mapping system in Europe in June, with a U.S. launch to follow later this year.

 

More at:  http://www.crainscleveland.com/article/20110106/FREE/110109903

A "rash" of medical stories? Oy.

I don't like that first story :(

^I thought that too at first, but it looks like Bos Sci invested in that 8 mil in that company at its inception.  They were likely going to buy them out anyway.  At least the clinic makes some bank off the sale.

^Yeah, I know, but still not exactly the job creation that Third Frontier was meant for.  Not a big deal, you win some and lose some, but always sad to see start-ups bolt for more mature pastures.

^ How many of these companies end up moving?

It looks like we're backup again after a down year in 2009:

 

Investment in health care startups rises in Cleveland and Ohio in 2010 vs. 2009

By MARK DODOSH

12:00 pm, January 18, 2011

 

The latest figures for investment in health care startup companies across the Midwest show 2010 was a better year for venture investment in Cleveland and Ohio than 2009, though still not what it was before the recession took hold.

 

The Midwest Health Care Venture Investment Report produced by BioEnterprise Corp., a nonprofit that supports biomedical venture development in Northeast Ohio, indicated that $135.1 million was invested in 33 companies in the Cleveland area last year. The dollar figure is double the $66.3 million in investment in 21 health care startups that BioEnterprise reported for 2009. However, it was down 17% from investment of $163.5 million in 31 companies in 2008, and was off 44% from investment of $241.8 million in 28 companies in 2007.

 

http://www.crainscleveland.com/article/20110118/FREE/110119829

 

 

A good video too:

 

Cleveland: Biomedical research firms hear Obama's call to 'innovate'

 

 

CLEVELAND -- Greater Cleveland's growing biomedical research industry heard and appreciated President Barack Obama's State of the Union call to "innovate."

 

Aeromics is a firm that moved here from Yale University.

 

He predicts the company's payroll could soon grow from 8 total full-time and part-time workers to 25 to 40 in the next few years.

 

http://www.wkyc.com/news/local/story.aspx?storyid=171913&catid=45

 

 

 

 

 

Another business in University Circle-Cleveland Clinic.  Hope they grow.

 

Irish medical device design company opens office near Cleveland Clinic

 

By CHUCK SODER

1:50 pm, March 1, 2011

 

An Irish company that helps medical device companies design their products has opened a small office near the Cleveland Clinic.

 

Creganna-Tactx Medical employs two business development specialists at its new office in the Clinic's Global Cardiovascular Innovation Center, an incubator designed to accelerate the development of companies creating cardiovascular technologies and other medical products.

 

The office is expected to grow over time and eventually could have equipment that area companies could use to create prototypes of their products, said Tom Sudow, vice president of business attraction for Team NEO. The regional business attraction agency is helping the Clinic recruit tenants for the center, located at 10000 Cedar Ave.

 

http://www.crainscleveland.com/article/20110301/FREE/110309979

 

 

Israeli medical device firm IceCure picks Cleveland for U.S. headquarters

 

Israeli device company IceCure Medical has chosen Cleveland to be its U.S. headquarters, a move the company’s CEO hinted at in February.

 

The company plans to open its U.S. headquarters at the Cleveland Clinic-led Global Cardiovascular Innovation Center campus on June 1, according to a statement from IceCure.

 

http://www.medcitynews.com/2011/05/israeli-medical-device-firm-icecure-picks-cleveland-for-u-s-headquarters/

^Nice!

Wasn't aware of the upcoming tax...interesting...

 

Medical device excise tax thwarts innovation, job growth

Published: Saturday, November 19, 2011, 10:56 AM

Plain Dealer guest columnist By Plain Dealer guest columnist

 

 

Ohio is a vital home to one of the most dynamic industries in the world: medical device development and manufacturing. It is the perfect combination of a highly skilled work force, innovative technologies and products that improve lives. Ohio medical device and equipment manufacturers employ more than 22,000 workers. In Northeast Ohio, they include Philips Healthcare, US Endoscopy, OrthoHelix and CleveMed. Another 5,000 to 7,000 Ohioans are employed by companies that provide critical services -- like product design, testing and clinical trial consulting -- to these manufacturers.

 

So why would elected officials want to hamper its growth?

 

As a part of the health care reform legislation, elected officials passed a 2.3 percent excise tax on medical devices that will go into effect in 2013. While the goal was to help pay for the legislation, its real impact is inhibiting job creation and innovation. Perhaps worst of all, the tax is applied to the sales, not profits, of a medical device manufacturer. While still growing and creating jobs, more than a few Ohio medical device companies are not yet profitable. Under this tax, they would actually owe a hefty tax bill, despite not having a penny in profits.

 

http://www.cleveland.com/opinion/index.ssf/2011/11/medical_devise_excise_tax_thwa.html

Philips Healthcare to add 100 jobs in Highland Heights; Steris Corp. plans growth in Mentor

Published: Monday, December 19, 2011, 7:00 PM

Michelle Jarboe McFee, The Plain Dealer By Michelle Jarboe McFee, The Plain Dealer

 

CLEVELAND, Ohio -- Two healthcare heavyweights will bring jobs to Northeast Ohio, building up the region's medical core with help from state incentives.

 

Philips Healthcare plans to move 100 jobs to Highland Heights from San Jose, Calif.

 

And Steris Corp., which makes medical-instrument sterilizers and other products, is plotting "a significant investment involving a number of jobs" at its Mentor headquarters, according to a spokesman.

 

"Both of these companies are important flagship companies for the region. And both are leaders within their respective areas in the medical industry," said Baiju Shah, chief executive officer of BioEnterprise, a nonprofit group focused on the region's biomedical economy. Shah would not elaborate on the companies' plans.

 

But records related to the Philips deal show the company aims to create 100 local jobs, with an average salary of $115,000 a year, while consolidating its nuclear medicine division. The new jobs are part of a research and development facility focused on imaging technology that helps doctors learn more about how internal organs work.

 

http://www.cleveland.com/business/index.ssf/2011/12/philips_healthcare_to_add_100.html

whoa...we're growing more than I was aware!

 

Cleveland: Biomedical business boom

9:54 AM, Feb 8, 2012 

 

CLEVELAND -- Taking an in-depth look at several local companies that are redefining Cleveland as a world leader in innovation.

 

Just as important, those companies are investing millions in the city and they're adding jobs.

 

Cleveland is fast turning into a destination for big biomed money and high-powered entrepreneurs. They are leaving home behind and are part of a growing trend.

 

http://www.wkyc.com/news/article/229376/16/Cleveland-Biomedical-business-boom

This actually sounds like a pretty big deal...

 

University Hospitals announces national program designed to speed the discovery of new drugs

 

CLEVELAND, Ohio — A national program designed to speed the discovery of new drugs, attract nationally recognized researchers to Cleveland and boost the city's reputation as a leading medical center was announced Tuesday evening by University Hospitals.

The program will be backed by $250 million in donations and other funding, including $50 million from the Harrington family, the largest donation in the UH health system's history.

 

http://www.cleveland.com/healthfit/index.ssf/2012/02/university_hospitals_announces.html

 

 

 

This actually sounds like a pretty big deal...

 

University Hospitals announces national program designed to speed the discovery of new drugs

 

 

I think it's a huge deal. It would be like Cliffs Natural Resources' predecessor companies in the 1850s spending megabucks to unite iron, steel, coal, shipping and railroads in Cleveland.

This is exactly what the region needs.

 

Bioenterprise online biomedical job fair such a success will be held quarterly

 

"The first virtual biomedical job fair, hosted last week by BioEnterprise and Global Cleveland, proved to be a success in attracting candidates to the region’s biomedical field and its many open positions. Thirty employers took 1,785 applications for open positions. About a quarter of the applicants were from outside of Ohio and another quarter were from outside the region, fulfilling the goal to attract new talent to Northeast Ohio."

 

http://www.freshwatercleveland.com/innovationnews/onlinejobfair040512.aspx

Haven't seen any updates in quite some time...positive news for the region:

 

"During the first half of 2012, 33 Cleveland-area companies raised a total of $83.6 million in venture capital, according to the Midwest Health Care Venture Investment Report, released today by BioEnterprise Corp. of Cleveland."

 

http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20120731/FREE/120739954

But just think how much exponentially more innovation would have occurred without the medical device excise tax!

Chrissakes, we are NOT turning this thread into another left/right boxing match.  Don't even start it.

Cleveland, OH, January 7, 2013 – Midwest healthcare companies attracted $996 million in new investments across 182 companies in 2012 according to the BioEnterprise Midwest Healthcare Venture Investment Report. The total dollars attracted is up by twenty-three percent from 2011. Ohio ($292 million), Minnesota ($165 million), and Illinois ($146 million) led Midwestern states in attracting investment dollars; Cleveland, Minneapolis, and Chicago were the leaders among Midwest regions.

 

"Investment activity in Midwest healthcare deals continues its upward trend, outperforming previous years' activity for 3 years in a row. As with the rest of the country, Midwest healthcare investing fell dramatically in 2009 after strong years in 2007 and 2008, but it appears investors are again optimistic about Midwest deals. 2013 should be an interesting year to watch," said Aram Nerpouni, Interim President of BioEnterprise, the Cleveland biomedical accelerator.

 

http://www.gcpartnership.com/Media-Center/GCP-Every-Monday/~/media/Files/Every%20Monday/MidwestHealthCareVentureReportYE2012PressReleaseFINALlinkstoreport_c99d.ashx

 

 

 

Great news...and I see Cleveland only getting stronger with BioEnterprise really pushing for it and new spaces in the Midtown/UC area.

Cleveland the leading target for healthcare investment in Midwest

Robert L. Smith, The Plain Dealer

July 25, 2013 at 6:00 PM

 

    It's shaping up to be another strong year for the healthcare industry in Greater Cleveland, which remains the leading metro area in the Midwest for healthcare investment.

 

    Cleveland area life-science companies attracted about $80 million in venture capital in the first six months of 2013, according to the Midwest Healthcare Venture Investment Report, released Wednesday by BioEnterprise.

 

    The region's performance slipped noticeably from the first half of 2012, when healthcare investors poured an unprecedented $104 million into Cleveland-area companies. But observers consider last year to be an anomaly and say the 2013 showing helps solidify the region as a national player in healthcare innovation.

 

http://www.cleveland.com/business/index.ssf/2013/07/clevelands_healthcare_industry_1.html

I've witnessed some of these neurostimulation devices firsthand, specifically a paraplegic veteran who was able to stand on his own two feet with the assistance of an implanted stimulation device. It's pretty incredible stuff.

 

Ohio's neurostimulation industry: on the brink of a breakout

 

After decades of research and development in neurostimulation technology, Ohio is riding a national commercialization wave in neurodevices. Neurostimulation, also referred to as electrostimulation, uses electricity as an alternative to drug therapy. Treatment applications include relief of chronic pain, paralysis and depression.

 

There are approximately 725 persons currently employed in Ohio manufacturing industries related to electromedical and electrotherapeutic apparatus equipment, according to Economic Modeling Specialists, Inc. At first blush, the number may not look impressive, but jobs in these industries garner an average income of $75,000.

 

http://www.hivelocitymedia.com/features/neurostimulation082213.aspx

 

Swan song for Connectathon in Windy City

 

anyone familiar with HIMSS Innovation Center may know this, but it's good to hear about buzz for The Globe...  if trends remain the same over 150 companies and 600 engineers show up for the IHE Connectathon...

http://www.ihe.net/connectathon/

 

Anticipation about the IHE North American Connectathon’s move to Cleveland in 2015 is running high among the event’s organizers, though they insist that they are not looking past their final year in Chicago Jan. 27-31, 2014.

http://m.healthcareitnews.com/news/swan-song-connectathon-windy-city

Wow! Cleveland is looking like a better and better place for biotech/medicine oriented people like me! :D

I need to take a good hard look at CWRU for med school ;)

Better than Cincinnati, certainly :)

Wow! Cleveland is looking like a better and better place for biotech/medicine oriented people like me! :D

I need to take a good hard look at CWRU for med school ;)

Better than Cincinnati, certainly :)

I just interviewed at Cinci's med school and was really impressed. I've also interviewed at Case. They're very different programs - Case is very small group oriented whereas Cinci is more a "classic" lecture based program. So it'll mostly come down to personal preference, they're both excellent programs. Cinci definitely has an edge in terms of facility, it's a beautiful, modern building with lots of amenities. Case is pretty old, although they're fixing that in a couple years with a new building.

Cleveland's bioscience industry attracts record $398 million in 2014

 

Greater Cleveland healthcare companies attracted $398 million in investment dollars, compared to $201 million in 2013. Cleveland again outpaced Chicago, Detroit, St. Louis and Pittsburgh and climbed to within a few million dollars of perennial leader Minneapolis, which attracted $403 million.

 

The surging investment in Midwest healthcare companies mirrors a national trend, said Aram Nerpouni, the president and chief executive of BioEnterprise.  So does the decrease in funding for startups and young companies, he added.

 

"The deals are getting bigger and this signifies a maturing of the Midwest healthcare innovation ecosystem," Nerpouni said in a statement. "All in all, there is a robust pipeline of attractive healthcare companies in all stages building rapidly in the Midwest."

 

http://www.cleveland.com/business/index.ssf/2015/01/clevelands_bioscience_industry.html#incart_river

^comparing CLE to Louisville and St. Louis is fascinating indeed. What would be far more interesting is to see how CLE stacks up nationally. How does the city compare to Minneapolis (which seems to be the only other contender in the report) AND New York, Philadelphia, Houston, etc.?

Heres some more detailed info with a chart showing the investment for the past couple years:

 

http://www.bioenterprise.com/resources/uploaded/documents/Midwest%20Healthcare%20Growth%20Capital%20Report%20-%20press%20release%20YE2014%20(FINAL).pdf

^^Pretty sure the Bay Area and Boston area are the two biggest healthcare venture hubs in the country, and still have a pretty healthy lead. But Cleveland's growth in this area has been pretty awesome.

^True, but by how much? And if CLE jumped 100% from 2013 to 2014 (as did the entire 'midwest' in the report) how did BOS and SF do? My point is that it would be nice to see such data in a national context, not just regional.

Quick math...that means Cleveland attracted 80% of all Ohio money.  Impressive.

^^Looks like Massachusetts drew almost $2B in healthcare venture funding in 2013 (https://www.cbinsights.com/blog/massachusetts-life-sciences-venture-capital/), which is about the same as the entire midwest in 2014.  Anyone's guess if their 2014 number was higher or lower (I can't find any updates).

Well, this is a very good sign. 

 

total VC dollars over the past 5 years:

2005 $171 million

2004 $62 million

2003 $32 million

2002 $33 million

2001 $8 million

 

VC investments in med firms soar

Region could gain national rep if private financing stays strong

 

By SHANNON PETTYPIECE

 

6:00 am, January 23, 2006

 

 

 

Northeast Ohio health care companies showed last year they could lure big investment bucks to town. If they can do it again this year, the region likely will gain a national reputation as a health care hot spot that attracts entrepreneurs, workers and investors.

 

The $171 million in private capital raised by local health care companies in 2005 was nearly three times the amount raised in 2004, according to figures compiled by BioEnterprise Corp., a Cleveland-based nonprofit that works with medical startups.

 

Baiju Shah, president of BioEnterprise, said the numbers continue the positive trend of recent years and indicate Northeast Ohio is a serious player in the private capital market.

 

http://www.crainscleveland.com/

^from the first post in this thread, for comparison

Swan song for Connectathon in Windy City

 

anyone familiar with HIMSS Innovation Center may know this, but it's good to hear about buzz for The Globe...  if trends remain the same over 150 companies and 600 engineers show up for the IHE Connectathon...

http://www.ihe.net/connectathon/

 

Anticipation about the IHE North American Connectathons move to Cleveland in 2015 is running high among the events organizers, though they insist that they are not looking past their final year in Chicago Jan. 27-31, 2014.

http://m.healthcareitnews.com/news/swan-song-connectathon-windy-city

 

At Cleveland's first Connectathon, software engineers seek understanding and hook ups

 

By  Robert L. Smith, The Plain Dealer 

Email the author | Follow on Twitter

on January 29, 2015 at 9:02 AM, updated January 29, 2015 at 10:42 AM

 

CLEVELAND, Ohio -- The scene in the Grand Ballroom of the Cleveland Convention Center on Wednesday defied anything seen in the city before.

 

More than 500 software engineers from around the world sat behind laptops at long, runway-like rows of tables, scanning code and occasionally peeking over their screens to chat softly with competitors.

 

http://www.cleveland.com/business/index.ssf/2015/01/at_cleveland_connectathon_soft.html

Wednesday, January 28, 2015

Cleveland leads the Midwest in health-care investment

Mega deals, institutions and the Third Frontier help make 2014 a banner year

Story by JOANNA RICHARDS

 

Cleveland is known for its health-care industry. A new study reaffirms that reputation, showing 2014 was a banner year for investment. For Ohio Public Radio, WCPN’s Joanna Richards reports.

 

A couple of major deals, especially in health-information technology, helped push investment way up last year – to a total of $398 million.

 

That’s according to Aram Nerpouni, head of BioEnterprise, the Cleveland development organization that conducted the study.

 

MORE:

http://www.wksu.org/news/story/41792

Healthcare goes to market. New Cleveland Clinic spinoff begins taking orders

April 7, 2015 3:22 pm by Stephanie Baum

 

An online marketplace selling health tech developed by Cleveland Clinic caregivers and its alliance partners has started taking orders.

 

ADEO, an e-commerce spinoff of Cleveland Clinic Innovations, is selling 13 health technology products including online marketplace selling apps, hosted to deliver ready-to-purchase healthcare products and services directly to the customer, including hospitals, private practice physicians and even patients.

 

Gary Fingerhut, Executive Director of Cleveland Clinic Innovations, said in a statement that the inventory of the online store includes digital assets conceived and developed by the Cleveland Clinic. Cologene, for example, is a data management software tool from the Cleveland Clinic for clinicians. It tracks family-based medical studies. Other products are more consumer-focused, such as a hearing protection app developed by ProMedica. The app, which can be used on smartphones, allows users to monitor ambient noise levels to protect their hearing.

 

MORE:

http://medcitynews.com/2015/04/cleveland-clinic-innovations-spinoff-begins-taking-orders-online-store-health-technology/

And....

 

TRACON Pharmaceuticals Expands License Agreement and Signs Research Agreement With Case Western Reserve University

By GlobeNewswire,  April 08, 2015, 04:15:00 PM EDT

Agreement Strengthens Intellectual Property Estate Around TRC102 and Provides Opportunity for Development of Additional Predictive Biomarkers

 

SAN DIEGO, April 8, 2015 (GLOBE NEWSWIRE) -- TRACON Pharmaceuticals (Nasdaq:TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer, age-related macular degeneration and fibrotic diseases, announced today that it entered into an amended license agreement and a new sponsored research collaboration with Case Western Reserve University (CWRU).

 

The amended agreement strengthens the intellectual property estate around TRC102 by including additional issued patents and patent applications covering combinations of TRC102 with certain approved chemotherapeutic agents as well as patents covering the use of biomarkers that may be used to predict which patients are most likely to respond to TRC102 treatment. In addition, TRACON and CWRU have entered into a sponsored research agreement whereby CWRU will further assess biomarkers that may predict the activity of regimens combining TRC102 with chemotherapeutics, including Alimta® (pemetrexed).

 

More:

http://www.nasdaq.com/press-release/tracon-pharmaceuticals-expands-license-agreement-and-signs-research-agreement-with-case-western-20150408-00918#ixzz3WkuKfNyv

The big question in all this is, will Explorys remain a semi-autonomous unit and stay in Cleveland or will it be absorbed into IBM Watson Health which will be based in Boston? I fear the latter...

http://www.streetinsider.com/Corporate+News/IBM+(IBM)+Announces+Watson+Health+Cloud+Initiative+(AAPL)+(JNJ)+(MDT)/10453537.html

 

Much more information is from this PR....

 

http://www.marketwatch.com/story/ibm-acquires-explorys-to-accelerate-cognitive-insights-for-health-and-wellness-2015-04-13

 

PRESS RELEASE

IBM Acquires Explorys to Accelerate Cognitive Insights for Health and Wellness

Published: Apr 13, 2015 5:03 p.m. ET

 

ARMONK, N.Y. and CLEVELAND, April 13, 2015 /PRNewswire/ -- IBM (NYSE: IBM) today announced plans to acquire Explorys, a healthcare intelligence cloud company that has built one of the largest clinical data sets in the world, representing more than 50 million lives. The acquisition strengthens IBM's leadership position in healthcare analytics and cloud computing, and will help bolster its ability to extract and share deep insights to improve wellness and benefit patients.

 

Since its spin-off from the Cleveland Clinic in 2009, Explorys has secured a robust healthcare database derived from numerous and diverse financial, operational and medical record systems comprising 315 billion longitudinal data points across the continuum of care. This powerful body of insight will help fuel IBM Watson Health Cloud, a new open platform that allows information to be securely de-identified, shared and combined with a dynamic and constantly growing aggregated view of clinical, health and social research data.

 

Explorys provides secure cloud-based solutions for clinical integration, at-risk population management, cost of care measurement, and pay-for-performance. Headquartered in Cleveland, Explorys clients include some of the most prominent healthcare systems in the United States, together accounting for over $69 billion in care, 360 hospitals and more than 317,000 providers. Explorys' HIPAA-enabled cloud-computing platform is used by 26 healthcare systems and clinically integrated networks to identify patterns in diseases, treatments and outcomes. Its network includes Cleveland Clinic, Trinity Health, St. Joseph Health System, Mercy Health, Adventist Health System and many others with patients across the country. Market intelligence firm IDC just named Explorys global leader in Healthcare Clinical and Financial Analysis.

 

"As healthcare providers, health plans and life sciences companies face a deluge of data, they need a secure, reliable and dynamic way to share that data for new insight to deliver quality, effective healthcare for the individual," said Mike Rhodin, senior vice president, IBM Watson. "To address this opportunity, IBM is building a holistic platform to enable the aggregation and discovery of health data to share it with those who can make a difference. With Explorys, IBM will accelerate the delivery of IBM Health Cloud and IBM Watson cognitive solutions to model and apply medical evidence and large scale analytics to data."

 

"Every encounter that a patient has across the continuum of care spins off a meaningful piece of data that can help tell the whole story about an individual's health to improve the quality and effectiveness of their care," said Stephen McHale, CEO and co-founder, Explorys. "Information is changing the way care is delivered and paid for. The combination of Explorys technology with IBM's powerful Health Cloud and Watson cognitive capabilities will expand the reach of health insights so that Big Data can finally be used more easily to transform healthcare. This relationship will not only accelerate but enhance many of the projects underway with our provider organizations."

 

Explorys is now part of IBM's new Watson Health unit, launched today. Its offerings complement and strengthen the IBM Watson Health Cloud platform and will empower IBM's vast ecosystem of clients, partners and medical researchers to surface new connections among diverse and previously siloed healthcare data sets. Access to these insights are expected to spur the creation of a new generation of data-driven applications and solutions designed to advance health and wellness.

 

Financial terms were not disclosed.

 

About Explorys

 

Originally inspired by physicians and informatics leaders, Jeter combines the most powerful healthcare computing platform in the world with turnkey solutions for clinical integration, at-risk population management, cost of care measurement, and pay-for-performance solutions. Jeter addresses the national imperative to leverage Big Data in healthcare for the improvement of medicine and delivery of care. For more information, please visit www.explorys.com.

 

About IBM Watson Health

 

IBM and its vast ecosystem of clients, partners and medical researchers are accelerating the development of a new generation of data-driven applications and solutions built on IBM Health Cloud and IBM Watson cognitive solutions to advance health and wellness. For more information, please visit ibm.com/watsonhealth.

 

Join the social discussion, include the hashtag #ibmwatsonhealth. Follow Watson on Facebook and see Watson on YouTube and Flickr.

 

Contact:

Holli Haswell

IBM External Relations

[email protected] 

720-396-5485

Oh man.  Let's see if our hard fought efforts to become a healthcare, biotech, and data hub are concrete enough to keep a real economic gem like Explorys (or whatever they'll be considered now) here and growing.  I would think the proximity to other healthcare related businesses and the ability to tap into our massive fiber trunk would be incentive to keep operations in Cleveland - with the best case scenario of expansion in conjunction with IBM's Watson program.  Or maybe IBM will gut the whole thing and ship everyone to Boston.

Some more information about IBM's new "Watson Health" unit, which Explorys is now part of. No mention of Cleveland for those 2,000 new and existing jobs. I really hope the leadership at Explorys was strong enough to push to stay in Cleveland. I've always complained about the weak corporate leadership in this region. Hopefully this isn't more to add to the pile. Meanwhile RPM International keeps buying more and more companies, but never relocates any of them here.

 

http://www.modernhealthcare.com/article/20150413/NEWS/150419968

 

The Armonk, N.Y.-based computer giant said its Watson division will work with Apple, Johnson & Johnson and Medtronic to collect data, conduct analysis and give feedback on consumer and medical device applications. The company also will acquire Explorys, a cloud-computing system spun off from Cleveland Clinic that now has 26 major health system clients, and Phytel, which sells cloud-based computer services.

 

The company said the moves will create about 2,000 new and existing jobs in Boston and New York City devoted to healthcare analytics. IBM dubbed the new healthcare analytics division Watson Health.

 

Edit: I was thumbing through IBM's job listings. There are a handful of development and PM jobs in Pittsburg related to Watson software. Probably not related to Watson Health but they might be interested in consolidating. That would be an even bigger FU. Bleeping Pittsburgh.

 

Job postings

I have a couple friends at Explorys, and they seem to think that IBM wants to keep the jobs here. I have no idea how true that is though.

Some related news:

 

http://news.yahoo.com/ibm-teams-apple-artificial-intelligence-health-program-233116771.html;_ylt=AwrBEiTnVyxVeTUAESTQtDMD

I have a couple friends at Explorys, and they seem to think that IBM wants to keep the jobs here. I have no idea how true that is though.

 

Keep bugging them for information! ;)

I certainly will, but at this point I don't think they know much.

 

My optimistic theory: Since IBM also acquired one of Explorys's smaller competitors (Phytel in Dallas), perhaps it will be merged with Explorys and relocated to Cleveland to serve as the main arm of IBM Watson Health Cloud.

 

My pessimistic theory: Explorys goes to Boston :/

wow, really bummed out about this....  maybe this is where http://www.100gigcle.org shows if it can give us an advantage....

I mean, it's certainly not surprising that this happened. Pretty much the entire goal of Explorys (like many if not most tech startups) was to be acquired by a larger company. A couple years ago, IBM acquired UrbanCode (a tech startup in Cleveland), and they have continued to maintain and add jobs in UrbanCode's offices in Cleveland. So IBM appears to be comfortable with Cleveland's workforce. In this case, it just all depends on how IBM wants to consolidate its Watson Health offices. I think there's a good case for keeping a presence in Cleveland because of the strong biotech/healthcare industry here, as well as the benefits of the health-tech corridor (100 gig). I genuinely think that it would be a great idea to merge Explorys with Phytel and consolidate in a new building on the health-tech corridor, which would be focused on the Health Cloud. I'm sure the City would be willing to give a nice incentive for that too ;)

 

As of right now, though, I suppose it's anyone's guess. In one of the articles, an IBM external relations contact was given. It couldn't hurt to contact her and mention the benefits of staying in Cleveland, or even consolidating some offices here:

 

Contact:

Holli Haswell

IBM External Relations

[email protected] 

720-396-5485