From globally recognized imaging concerns and internationally known institutions, to locally grown startups funded by public and private investment, the roots of Cleveland’s imaging industry span more than a century and have worldwide implications. The Medical Capital is home to the largest multinational imaging corporations – Siemens, Toshiba, Hitachi, Philips and GE – as well as more than 50 imaging start-up companies. The region boasts leading imaging research and clinical institutions – including Case Western Reserve University, Cleveland Clinic and University Hospitals – and exhibits strength in MR, CT, PET, X-Ray, Nuclear Medicine, OCT and Molecular Imaging
The Ohio Third Frontier program (OTF) and Philips Healthcare invested $38.5 million to create the Global Advanced Imaging Innovation Center at University Hospitals Case Medical Center. The center enables earlier disease detection and safer imaging systems. Over the past few years, OTF has awarded more than $15 million to multiple Northeast Ohio institutions and companies to further advance imaging innovation.
In addition to the State of Ohio, private investors understand the value of The Medical Capital’s imaging sector. Nearly $384 million in equity investment has been made to regional medical imaging companies since 2002. Select private investments include $60 million to ViewRay, an imaging oncology company that moved to Cleveland from Florida to access regional imaging assets, and $9 million to Surgical Theater, a virtual reality and image guidance software company for healthcare.