Maryland VCs are moving their cash into medical devices- Medical Tech Boom

In Maryland, venture capitalists are moving their cash into medical devices, despite a blip in investing & global market retrenching.

VC firms have invested a record $47 million in Maryland’s makers of medical devices and equipment, according to the latest venture capital report published by PricewaterhouseCoopers  

That figure towers over the mere $4.6 million invested in the industry in all of 2010, and it’s second-most among all industries in Maryland so far this year. More than $52 million has been invested in biotechnology through 2011.

What’s going on in Maryland appears to be taking place across the country, too. Venture firms invested $728 million in 74 deals with the medical device industry. That’s a 17 percent increase in the amount of money invested in devices

This is an indication of a medical device boom all over the country and in emerging countries.