The Health Care Council of Chicago (HC3) – an initiative of MATTER and Leavitt Partners – presented a first-of-its-kind white paper outlining the state of the healthcare industry in Chicago, during an event today at MATTER with Chicago Mayor Rahm Emanuel.

The report concludes that Chicago’s $69 billion healthcare industry has a diversity of assets that position the city to accelerate innovation and disruptive solutions at a pace uncommon in U.S. cities.

“This report confirms what we have long suspected – Chicago is an unparalleled hub for healthcare innovation,” said Mayor Emanuel. “Thanks to the ingenuity of our businesses and incubators – like MATTER – we have the ability to harness Chicago’s potential in ways we could never imagine before and build a stronger healthcare industry for our entire nation and world.”

Bolstered by a core of world-class care institutions, medical technology enterprises, and life sciences researchers, the report identifies five critical factors that make the city a world healthcare industry leader:

  • The unparalleled volume and diversity of healthcare industry expertise, across all industry sectors;
  • The strongest presence nationwide of healthcare-focused private equity firms, as well as a robust venture capital community and the city’s designation as the second-best city in the nation for startups;
  • The graduate medical education and vocational training system that pumps talent into Chicago for productivity gains and expansion to meet tomorrow’s needs;
  • The environments for development and growth of new technologies through the 90 co-working spaces and incubators throughout the city, the community of accelerators, and corporate partners seeding innovation; and
  • The unique collaborations amongst and between all stakeholders that help to identify new opportunities and investments through partnerships, association platforms, community events, and HC3.

Read the report: