With companies like Epic Systems and GE Healthcare setting up shop in Wisconsin, it’s no surprise the state is home to a flourishing health technology sector. Thanks to renowned research and academic institutions, entrepreneurs have the tools they need to succeed here, and the rapid growth of the health tech sector proves it.
Dane County alone is home to more than 40 health tech companies employing approximately 10,000 people. Of course, Verona-based Epic, a titan in the electronic medical records industry, makes up the majority of that employment number, but a multitude of smaller health tech companies that have cropped up in recent years are holding their own in the marketplace.
The surge and success of health tech companies can be largely attributed to the favorable business climate in Wisconsin in recent years, especially when it comes to early-stage startups. These companies specialize in a wide array of technology to improve health care, ranging from patient recordkeeping and payments to diagnosing patients remotely and designing lifesaving devices.
One major trend on Wisconsin’s health tech landscape is companies that specialize in designing and manufacturing medical devices that improve patients’ quality of life. One such business is Madison-based Swallow Solutions, which designs and creates therapeutic devices and nutritional products for patients with swallowing disorders, known as dysphagia. Another company making the most of Wisconsin’s manufacturing supply chain is Isomark, which created non-invasive breath technology that can aid in the early diagnosis of infections.
Health care software is another burgeoning sector in Wisconsin. Companies have followed Epic’s example and found a home and market for their products in the state. For example, Milwaukee-based ConsortiEX delivers IT systems and services that deal with ordering, distributing and tracking sterile injectable compounds for hospitals and their affiliated networks. Similarly, Imaging Biometrics LLC, an Elm Grove-based company, develops ready-to-use health care software. Both companies tap the expertise of recent graduates from the University of Wisconsin system, whose STEM departments consistently rank among the best in the nation.
Health tech companies in Wisconsin also have access to industry-specific funding sources, including Madison-based HealthX Ventures. Owned and operated by Nordic Consulting cofounder Mark Bakken, HealthX backs companies seeking to provide digital health solutions.
The ever-changing health care technology sector also benefits from the adaptability of Wisconsin’s highly skilled workforce and supportive business climate. Thus, in Wisconsin, health tech startups find the tools that are critical to their success.