Bioscience companies engage in biotechnology research and development to produce processes or prototypes of new or genetically altered products, allowing for the health care industry to perform clinical trials and deliver life-saving therapies to patients. About two-thirds of biotech research expenditures are for health applications, according to research compiled by Hoovers.
The U.S. biotechnology research services industry includes about 2,400 establishments with combined annual revenue of about $18 billion. The lure of patentable discoveries through research into micro-organisms and cellular and bio-molecular processes is strong, and motivates new companies to join the industry. Since biotech research may result in potentially lucrative new processes and prototypes applicable to several industries, funding is often provided by venture capital firms hoping to cash in on new products.
A strong local health care and bioscience industry cluster in the City of Scottsdale is the result of continued success in collaboration between local health care providers and innovative research and biotech companies. The Cure Corridor leverages Scottsdale’s highly skilled workforce, of which 20 percent are in health or bio‐related fields. The target industries in this cluster include pharmaceuticals, other biological products, medical laboratories and biotech research. Geographic clustering is particular important for these industries to support innovation and to connect those conducting clinical trials with health care providers. This target industry is currently located along Shea Boulevard in the central area of the City, referred to as the Cure Corridor.
Health and wellness are an integral part of Scottsdale’s community identity – and the accomplishments of the medical and health care visionaries working in Scottsdale have the potential to improve and extend quality of life for millions of people.
- Strong geographic proximity to cluster industries, and easy access to key west coast markets
- Venture capital investments in Scottsdale the second largest in the State
- Partnerships with higher educational institutions
- One-fifth of local workforce employed in a direct or transferable field
In addition to being a key component of Scottsdale's economy, the Biosciences are critical to Arizona's economic growth and quality of life. The Flinn Foundation, a privately endowed philanthropic organization established in 1965, supports the advancement of bio sciences in Arizona and has developed a Roadmap to guide this advancement through 2025.
Key institutions in this cluster in Scottsdale include the Virginia Piper Cancer Center which conducts research and clinical trials; Scottsdale Healthcare Research Institute; Translational Drug Development (TD2), a cancer drug development company; McKesson Special Health US Oncology Research which has three cancer specialty centers focusing on clinical trials; the Mayo Clinic; Brainstate Technologies; CVS Caremark and HonorHealth. It also has ties to regional bioscience assets like the Translational Genomics Research Institute (TGen), the Mayo Medical School Arizona Campus, the Flinn Foundation and other educational and research organizations.
Translational Drug Development (TD2): Translational Drug Development (TD2) provides innovative services for oncology-focused biopharmaceutical companies. TD2 is uniquely positioned to support improved and accelerated development of medicines for life-threatening diseases. TD2 applies rigorous and high-throughput translational preclinical development, combined with regulatory affairs expertise, to customize clinical trial design and execution. TD2's suite of capabilities encourages the timely selection of patient populations most likely to benefit from new medicines, and the rapid identification of clinically significant endpoints. TD2 is committed to reducing the risks and uncertainty inherent in the drug development process and to the acceleration of patient access to promising treatments. TD2 is a for-profit subsidiary of the nonprofit Translational Genomics Research Institute (TGen).
GlobalMed: A privately held company headquartered in Scottsdale, GlobalMed is a leader of telemedicine companies transforming health care globally by developing and integrating secure, efficient health delivery systems that improve access and quality of care, while reducing unnecessary costs.
IDM LabTrack (formerly Ambient): IDM Lab Track utilizes advanced technology to track and trace specimens more accurately and economically, while eliminating the chance of human error. Lab Track provides solutions for the clinical and anatomic pathology laboratories for hospitals and commercial laboratories, and has been developing and deploying comprehensive business information management systems for health care applications since 2007.
McKesson Specialty Health: McKesson Specialty Health, a division of McKesson Corporation, empowers the community patient care delivery system by helping community practices advance the science, technology and quality of care. Through innovative clinical, research, business and operational solutions, facilitated by integrated technology systems, they focus on improving the financial health of their customers so they may provide the best care to their patients. McKesson Specialty Health supports more than 3,000 physicians and more than 3,100 practices treating conditions including Oncology, Rheumatology, Gastroenterology, Urology, Ophthalmology, Dialysis and Nephrology.
|HonorHealth Corp.||Headquarters||6,500||General medical and surgical hospitals|
|HonorHealth Hospitals||Headquarters||3,500||Hospital, AMA approved residency|
|HonorHealth Osborn Medical Center||Single Location||2,500||General medical and surgical hospitals|
|McKesson Corporation||Branch||1,350||Healthcare information technology|
|Orion Health||Branch||500||Healthcare management|
|Regenesis Biomedical, Inc.||Single Location||76||Medical instruments and equipment, blood and bone work|
|Healthy Solutions, LLC||Single Location||50||Vitamin preparations|
|Cayenne Medical, Inc.||Single Location||45||Medical instruments and equipment, blood and bone work|
|North Valley Surgery Center||Single Location||34||Surgical and medical instruments|
|Matrixx Initiatives, Inc.||Headquarters||29||Pharmaceutical preparations|
|Simon Med||Single Location||27||X-ray laboratory, including dental|
|Nassan & Associates LLC||Headquarters||24||Prosthetic appliances|
|Comprehensive Breast Center PLC||Single Location||21||General medical and surgical hospitals|
Source: Hoovers.com, July 2016 and MAG 2015 Employer Database
Global Dental Science was attracted to the Scottsdale region due to the great business climate and the fact that Scottsdale is recognized nationally as a great location for the dental community. The mayor and his team personally helped us get through any hurdles to quickly get settled and productive in the new factory at the airpark. It was a great experience for our team.Tim Thompson, President and CEO, Global Dental Science, LLC
Mayo Clinic is proud this year to mark our 25th anniversary serving this great community. Mayo is a significant economic driver for Arizona in the form of jobs, tax revenue and a commitment to cutting-edge research and medical education. Mayo Clinic has cared for countless residents since opening in Scottsdale in 1987, and is leading the way in cultivating economic development within the market of the bio-medical and bio-tech industry. In Arizona, Mayo Clinic serves nearly 100,000 patients per year from all 50 states and many foreign countries and has a $$1.5 billion annual impact on the valleywide economy.Wyatt W. Decker, M.D., Vice President, CEO, Mayo Clinic
Winfield Scott founded Scottsdale as a place of health and healing more than 125 years ago. Scottsdale Healthcare continues to leverage that innovative spirit to find new ways to improve and extend the lives of cancer patients. Our community physicians and physician scientists are working together and collaborating with others across the “Cure Corridor” to find a cure for a disease that touches so many lives and families.Thomas J. Sadvary, CEO, HonorHealth