Chicago: More Than Big Headquarters?

Chris Newmarker

April 15, 2016

2 Min Read
Chicago: More Than Big Headquarters?

Qmed Readers Vote: 5%

Chicago has some major medtech OEM headquarters. But can it leverage those headquarters to create a stronger medical device hub?

Qmed Staff

"It has a broad base of manufacturing and service capabilities. It has strong universities. It is centrally connected. It has a strong and growing tech base. And the local culture of hardworking yet approachable people makes for a great networking and community environment."

Two major companies in the medical device industry, Abbott Laboratories and Baxter International, have their headquarters north of the city, and the Windy City numerically has had a strong contingent of medical device employees. There region also has many academic institutions, including the University of Chicago, Northwestern University, Loyola University, and the University of Illinois at Chicago.

Venture capital attention, however, appears to be minimal in the medical device space. Drive just six hours to the northwest, and the Minneapolis-St. Paul area has more talent, more venture capital, and a lower cost of doing business.

  • Medical Devices and Equipment Employment: 11,990

  • Medtech VC Investing (2015, for IL): $34M

  • Medtech VC Investing (2014, for IL): $28M

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Image by Knutaril (Own work) [Public domain], via Wikimedia Commons

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