State 

Deals
(no.)

Financing Firms
(no.)
Avg. per Deal
($ millions)
Avg. per Firm
($ millions)
Sum Invested
($ millions)
% of Total Medtech Investment

California

36

68

8.16
4.32
293.89
42.31

Minnesota

5

20

20.84
5.21
104.20
15.00

Massachusetts

11

26

6.13
2.59
67.41
9.71

Pennsylvania

4

18

12.52
2.78
50.08
7.21

Texas

5

11

8.01
3.64
40.03
5.76

Georgia

3

12

7.87
1.97
23.60
3.40

North Carolina

4

15

5.50
1.47
22.00
3.17

Florida

1

9

20.50
2.28
20.50
2.95

Rhode Island

1

2

20.00
10.00
20.00
2.88

New Mexico

1

6

17.50
2.92
17.50
2.52

Top 10 states for venture capital investment in medical device and diagnostics companies, from July 2006 through September 2006. No single company received more than one round of financing during the quarter. Source: Thomson Financial for PricewaterhouseCoopers–National Venture Capital Association MoneyTree Report.