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Minneapolis Business

Medical Device and Healthcare

Innovative business Philanthropy Creative class Educated

Hundreds of companies focused on the biotech/medical device arena call the Minneapolis area home. Why? Depends on who you ask. In 1954, University of Minnesota cardiac surgeons performed the first open-heart surgery. In 1955, C. Walton Lillehei, MD, (the "father of open-heart surgery") and his assistant, Richard DeWall, MD, developed the first practical heart-lung machine. Shortly thereafter,in 1957, Dr. Lillehei and Earl Bakken developed the first external, wearable pacemaker. Dr. Lillehei went on to become medical director of St. Jude Medical in 1975. Bakken was one of the original founders of Medtronic. The industry is supported by a strong network of venture capital and investment professionals and a non-profit trade association, LifeScience Alley.

Interviewee: Don Gerhardt, President & CEO LifeScience Alley, 952.542.3077