Detroit Venture Partners [hearts] Motor City (Morning Read)

Highlights of the important and interesting in the world of healthcare:

We [heart] Detroit. New venture firm Detroit Venture Partners wants its portfolio companies to move their operations to the heart of Detroit in the hopes of transforming the Motor City into a vibrant startup community like Boston and San Francisco, according to Xconomy Detroit.

Senate defunds healthcare reform. The Senate voted 79-16 Tuesday afternoon to defund the implementation of both healthcare reform and financial-regulation reform, reports the Washington Post.

Med tech, not so hot. Slightly more than half of venture capitalists expect VC investing to make somewhat of a comeback in 2011, according to the  Minneapolis-St. Paul Business Journal. But the news is much better for Internet startups than for medical-device and biotech companies.


Community Health nurses’ strike likely. Tennessee-based Community Health Systems, the new for-profit owner of Forum Health in Youngstown, Ohio, likely faces a strike this week from nurses at its Wilkes-Barre (Pennsylvania) General Hospital for “ongoing illegal behavior and bad-faith bargaining,” reports the Youngstown Vindicator.

Mayo subject of civil lawsuit. The U.S. Attorney’s Office for the District of Minnesota said that a civil complaint has been filed in an existing federal suit against the Mayo Clinic and three related entities. The complaint alleges Mayo billed the federal government, including the Medicare and Medicaid programs, for surgical pathology services not rendered, according to KARE 11.

Old drugs find new uses. Finding new uses for old drugs is a tempting strategy for pharmaceutical companies, but the longer a medicine exists, the greater the challenge in recouping its costs, according to the Financial Times. One of the most famous examples of drug repurposing is Viagra, initially developed as a high blood pressure treatment.

Photo credit: Flickr user s o u t h e n’s

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