NLC Health Venture and Minnesota MedTech 3.0 partner to connect European medtech startups to Minnesota
AMSTERDAM and MINNEAPOLIS and SAINT PAUL, Minn., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Minnesota MedTech 3.0, the U.S. Tech Hub for medical technology, has formed a strategic partnership with NLC Health Ventures, a world-leading venture builder in health and medtech, based in the Netherlands.
Minnesota MedTech 3.0 (MMT3.0) is a collaboration of more than 20 entities, organized through the GREATER MSP Partnership, to implement a shared strategy that will advance the country's global leadership in medical device technology. Coalition leaders, including Minnesota Governor Tim Walz, GREATER MSP President and CEO Peter Frosch, Destination Medical Center Executive Director Patrick Seeb, and Mayo Clinic Innovation Exchange leader Dr. Charles Bruce, signed a memorandum of understanding (MOU) at the NLC Health Ventures headquarters in Amsterdam.
NLC is a leading global healthcare innovation platform with strong expertise in creating companies and bringing MedTech innovations from research to certified technologies that serve patients globally, headquartered in Europe and operating globally with emphasis on the United States.
As part of their commitment to collaborate, NLC will integrate into the MMT3.0 ecosystem for MedTech innovation, including a community with expertise in design and testing, clinical research, regulatory pathways, venture finance, and health systems adoption of technology. MMT3.0 will support NLC in its exploration of establishing a physical presence in Minnesota to locate its U.S. platform office, which will have the role of coordinating the start-up and incubation of medical technology companies in which NLC and its financial partners invest. MMT 3.0 and NLC will explore the creation of a joint investment fund to accelerate the presence of NLC and its portfolio companies in Minnesota, inspired by the vehicle NLC currently manages on behalf of the Dutch Ministry of Economic Affairs.
'The agreement we signed today establishes a new partnership that will accelerate Minnesota's Med Tech 3.0 strategy by opening the American market to high-potential start-ups from the Netherlands and throughout Europe,' said Peter Frosch, President and CEO of GREATER MSP. 'Building this global bridge will support the growth of good jobs across Minnesota while helping us deliver new healthcare solutions to the country and the world.'
'We are thrilled to support the partnership between MMT 3.0, NLC, and the Dutch HealthTech ecosystem. Minnesota is an ideal U.S. market entry point for fast-growing international HealthTech companies,' said Patrick Seeb, Executive Director, Destination Medical Center. 'At DMC, we remain focused on building world-class HealthTech infrastructure, fostering a thriving ecosystem, and increasing global awareness of Rochester's role in medical innovation. The partnership between DEED, Greater MSP, Medical Alley, DMC, Mayo Clinic, and many others is critical in attracting and supporting groundbreaking companies that will shape the future of healthcare.'
Building on the strengths of both organizations, this partnership combines MMT 3.0's knowledge of the U.S. healthcare system with NLC's proven expertise in creating and scaling successful health ventures. Together, they aim to drive investment and collaborative support for new medical technology innovation and company formation, development and growth in Minnesota.
'NLC aims to make the world a better place by bringing science to life. Without borders, but by enabling talent globally. We identify and advance groundbreaking intellectual property from around the world and establish and nurture companies that transform these innovations into technologies that deliver meaningful impact to patients,' said Bert Arjan Millenaar, Founder & CEO, NLC Health Ventures. 'Minnesota stands out as one of the world's leading MedTech hubs, and we already maintain strong collaborations with esteemed institutions such as Mayo Clinic and Medtronic. We are eager to deepen our engagement within the Minnesotan ecosystem and collaborate closely with the strategic stakeholders of MMT3.0. The region's expertise, proximity to key industry leaders, and spirit of collaboration make Minnesota an ideal launchpad for our European companies to establish their U.S. presence, as well as a fertile environment for the creation of new ventures.'
'This partnership is a testament to Minnesota's strength in health care solutions and will bring new opportunities to grow the medical technology industry,' said Minnesota Governor Tim Walz. 'We look forward to strengthening this endeavor, bringing investment and jobs to Minnesota, while expanding our leadership on a global stage.'
Minnesota MedTech 3.0 builds on region's strengths in medical technology to create a medical device ecosystem that is even more connected, more strategic and 'smarter' by incorporating cutting-edge technologies, such as artificial intelligence, machine learning and data science. It aims to deliver results that matter to patients, hospitals, insurers, and medical-device manufacturers, such as faster innovation, new products and better health outcomes, in ways that manage rising costs. Building MedTech 3.0 in Minnesota will deliver thousands of good-paying jobs, spur a new generation of start-ups and attract billions of dollars in private capital.
Minnesota was designated the U.S. Tech Hub for medical technology in 2023 by the U.S. Department of Commerce because of the region's global leadership in the sector and the new 3.0 strategy to build the sector's next frontier. Historically, Minnesota has been home to globally leading companies and institutions that helped establish a strong MedTech ecosystem. What's different with MedTech 3.0 is that the leaders of all these organizations are aligning around a shared strategy. This hub now connects the region's medical-device manufacturers with other parts of healthcare system, such as healthcare providers, insurers, information technology firms, private capital, research institutions and government. The coalition will also incorporate existing programs and solutions to speed up and improve the innovation process.
About Minnesota MedTech 3.0
Minnesota MedTech 3.0 is a coalition of the GREATER MSP Partnership that includes Allina Health, Boston Scientific, Brown Venture Group, Center for Economic Inclusion, Fogarty Innovation, gener8tor, Governor's Workforce Development Board and Minnesota Department of Employment and Economic Development, HealthPartners, Mayo Clinic, Medica, Medical Alley Association, Metropolitan Economic Development Association (MEDA), Medtronic, Minnesota State, Minnesota Technology Association, MN SBIR, MSP Equity Fund, Shakopee Mdewakanton Sioux Community, State of Minnesota–Office of Governor Tim Walz, University of Minnesota, and Vensana Capital.
About NLC Health Ventures
NLC Health Ventures, based in Amsterdam, is the most active health technology investor in Europe and the world's largest healthtech venture builder. NLC finds, builds, and scales transformative health innovations with the goal of providing more patients with quality care. NLC is a Certified B-Corp, its funds comply with SFDR9 guidelines, and they contribute to ESG 3, 9, and 17. With more than 70 start-ups, 4 funds, and activity in 16 countries, they bring impactful innovations to patients on a large scale.
About the GREATER MSP Partnership
GREATER MSP is the economic development partnership for the 15-county Minneapolis–Saint Paul region. GREATER MSP is a coalition of more than 4,500 individuals from more than 300 leading businesses, universities, cities, counties and philanthropic organizations working together to accelerate competitiveness and inclusive economic growth of the 15-county Minneapolis–Saint Paul region while leading the nation in tackling the most difficult challenges of the new economy.
About Destination Medical Center
Destination Medical Center (DMC) is the largest public-private economic initiative in Minnesota's history. The 20-year plan to transform Rochester into a global destination for health and wellness will attract developers, investors, startups, and entrepreneurs to live, work and play in America's City for Health. For more information, visit dmc.mn.
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