♦ A $700 million renewal of Ohio Third Frontier — the 10-year, $1.6 billion project to re-energize Ohio’s economy by investing in emerging technologies — is on its way to the May 4 ballot, thanks to bipartisan support of a compromise resolution by state Senate and House members this week. Third Frontier stakeholders celebrated the passage of the ballot initiative, which not only would renew funding for the project, but raise its annual grant-making ability to $175 million from about $160 million a year. In addition, the bond funding would not be subject to state budgetary issues, as is two-thirds of Third Frontier’s current budget.♦ The University of Minnesota is teaming up with private developers to establish a major venture-backed commercialization hub next to the school’s Biomedical Discovery District. Construction could begin in 2011 on The Minnesota Center for Life Science Technology Commercialization, a 60,000-square-foot building designed to convert ideas and technology from the university biomedical researchers into viable start-ups. A key component to the center is a $20 million private venture capital fund that will support the companies.
♦ The doctor is a brilliant diagnostician, but a lousy human being. He’s caustic, moody and condescending. He berates his staff, ignores his superiors and plays fast and loose with patient safety. He pops prescription pain killers like they were Skittles and regularly converses with dead colleagues. If Dr. Gregory House, played by actor Hugh Laurie in the hit FOX drama “House,” was real, he’d be a prime customer for Physician Wellness Services, a recently formed division of Workplace Behavioral Solutions Inc. that designs counseling and intervention programs to treat problem doctors.
♦ Dublin, Ohio’s, Cardinal Health is getting more media savvy. In mid-2009, it launched an in-store digital marketing program that is making sleek, high-tech advertising and health information available to even the smallest, independently owned retail pharmacies.
♦ The week in deals: Cellular Dynamics International Inc. in Madison, Wis., raised an additional $31 million… Cleveland, Ohio’s, CardioInsight Technologies closed its second funding round, raising $6 million from new and existing investors to speed and expand testing and commercialization of its heart-mapping technology… Pittsburgh, Pa.’s, Foundation Radiology Group has raised a $4 million Series B round of funding… Health care laundry company Superior Health Linens LLC in Cudahy, Wis., has raised $1.5 million in equity… Cincinnati, Ohio, nonprofit health information exchange HealthBridge has received a $1.4 million contract from the Social Security Administration to provide electronic medical records to the government agency…
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To read the full, original article click on this link: Weekend Read: $700 million, 4-year Ohio Third Frontier renewal heads for May ballot : MedCity News
