Coleman to Discuss Economic Development on UOFM Leadership Panel to Promote Breakthroughs in Minnesota Medical Devices

COLEMAN TO DISCUSS ECONOMIC DEVELOPMENT ON UOFM LEADERSHIP PANEL TO PROMOTE BREAKTHROUGHS IN MINNESOTA MEDICAL DEVICES

Conference to address breakthroughs in medical devices and seek creative partnerships in Minnesota's medical industry

Senator Norm Coleman, Co-Chair of the bipartisan Senate Medical Technology Caucus, today announced that he will take part in the University of Minnesota's Medical Device Conference entitled, "Lead the Change for Breakthroughs in Health through Medical Device Advancements," at the Radisson Hotel Metrodome on April 15, 2005 from 8:00 to 10:30 a.m. April 15th been designated as the day for the President's 21st Century Interdisciplinary Conference on Medical Devices

The three day conference beginning April 13th is dedicated to seeking partnerships in order to advance Minnesota's technological and scientific developments in the medical devices field. Minnesota is home to more than 8,000 medical-related companies that employ approximately 12 percent of the state's workforce.

"Minnesota leads the nation in start-up medical device companies, and we've led the world in many medical breakthroughs," said Coleman. "We were the first state to perform open heart surgery, produce the first cardiac pacemaker, and manufacture the first mechanical heart valve among other accomplishments. Breakthroughs such as these have revolutionized the U.S. economy and driven productivity to new heights, and at the same time, have helped people live longer and enjoy a better quality of life. I'm looking forward to participating in this very important medical-device conference to see how we can further grow and develop this crucial industry in Minnesota."

Joining Coleman on the panel will be: Dr. Frank Cerra, Senior Vice President for Health Sciences, Tim Mulcahy, Vice President for Research at the U of M, Ken Keller from the Humphrey Institute for Public Affairs, and State Representative Tim Mahoney. Topics to be discussed include biotech incubators, government funding, educational programs, and the University of Minnesota/Mayo Clinic Biotechnology Partnership. Senator Coleman will address ways to promote economic development in the device industry.

Senator Coleman founded the Senate Medical Technology Caucus with colleague, Senator Evan Bayh (D-IN), to call attention to the need for patient access to new technologies. The Senate Medical Technology Caucus hosts educational briefings for Senate members and staff, arranges tours of medical production facilities and hospitals, and holds informal hearings on critical issues affecting medical technology and innovation. The Caucus also highlights innovations in medical technology, explores ways to better integrate technology into the health care system, and provides a forum to discuss challenges that limit patient access and future innovation.

MINNESOTA'S MEDICAL MILESTONES
-Performed first open heart surgery;
-Produced first cardiac pacemaker;
-Developed first anesthesia monitor
-Conducted first successful bone marrow transplant;
-Manufactured first mechanical heart valve;
-Produced first implantable infusion pump

MINNESOTA'S MEDICAL COMMUNITY
-Home to five major medical device companies with sales of over $1 billion including Medtronic, Inc., 3M, Boston Scientific, Inc,
Guidant Corp., and St. Jude Medical, Inc.
-Home to 8,000 healthcare companies
-Medical device manufacturing industry in MN employs 36,000 workers
-Wages for industry tripled to over $1 billion in 2005 for Minnesotans
-Minnesota exported nearly $2 billion in medical equipment and supplies in 2002, up 7.9% from 2001
-New partnership for bio technology and medical genomics developed between the U of M and Mayo Clinic
-2005 state bonding bill passed which includes $21.7 million for biotech research facility in Rochester
-Establishment of a biotechnology and health sciences tax free zone which will have two sub-zones located near the U of M and Mayo
clinic, providing tax incentives to existing and start-up bioscience companies

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