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Medical Technology

Diversifying the regional economy beyond healthcare is a primary impetus for the Journey to Growth initiative. That said, it would be shortsighted to ignore the opportunities for growth in areas related to healthcare given the high concentration of skilled medical workers in the region, the opportunity to leverage Mayo Clinic’s buyer/supplier network, and peripheral opportunities created by Mayo’s Destination Medical Center plan.

The Medical Technology target is divided into two niches: Healthcare Delivery and Targeted Medicine. Healthcare delivery concerns the optimization of the actual process of delivering healthcare to the patient, including new technologies to connect patients to information, treatment options, and wellness strategies. For example, patients can now go online to access personalized health portals where they can manage all aspects of their care and wellness regimens. Targeted Medicine reflects our region’s strong basis of research focus on individualized and regenerative medicine, as well as the potential to commercialize research into new enterprise development and manufacturing employment. Regional employment in Targeted Medicine has seen significant growth in the last decade and we expect continued opportunities for additional high growth start-ups and corporate partnerships.

Medical Technology

Bard Medical, Stewartville, Minnesota

Cerner Corporation, Rochester, Minnesota

COMPASS International Innovations, Inc., Rochester, Minnesota

EchoMetrics, Rochester, Minnesota

Hormel Institute, Austin, Minnesota

Imanis Life Sciences, Rochester, Minnesota

LimbLab, Rochester, Minnesota

Mayo Clinic, southeastern Minnesota

Medical Innovations International, Inc., Rochester, Minnesota

MillCreek Life Sciences, Rochester, Minnesota

Olmsted Medical Center, southeastern Minnesota

Osborn Medical Corporation, Rochester, Minnesota

Pharmaceutical Specialties, Inc., Rochester, Minnesota

Prosthetic Laboratories, Rochester, Minnesota

ReGen Theranostics, Inc., Rochester, Minnesota

Rochester Home Infusion, Rochester, Minnesota

Waters Medical Systems, Rochester, Minnesota

Xcede Technologies, Rochester, Minnesota

The Economic committee will hold a series of industry Roundtables throughout the next year. The first roundtable was food and dairy on March 1, 2016. The second will cover manufacturing on May 31, 2016.