Will Medical Devices Lead the Way?
Summary
Xconomy Detroit/Ann Arbor — If Michigan was looking for an industry to bolster its future high tech economy beyond automobiles, medical devices would appear to be a good bet.HandyLabs and Accuri Cytometers, both University of Michigan spinoffs based in Ann Arbor, MI, were recently purchased by Benton, Dickinson & Co. With nearly $8 billion in revenue last year, Stryker is rapidly becoming a major player in medical devices.“All of the pieces seem to be falling into place,” said Tim Peterson, managing director of Arboretum Ventures in Ann Arbor, which funded HandyLabs and Accuri.Of that money, medical devices (diagnostic and therapeutic products) captured only 21 percent, or $92 million, with the vast majority going to pharmaceuticals and biotechnology.Scott Merz, president of MC3, a medical device incubator in Ann Arbor, says the state lacks “anchor” companies that entrepreneurs and investors can build around.
Classifications
AskAI Classifications
LabelsLinked Companies
