Obstetric Innovation as Indicated by Venture Capital Funding [33G]. (May 2020) - Kogutt, Benjamin K.
Abstract : INTRODUCTION: Venture capital (VC) is a financial industry that supports early stage companies and thus innovation. As such, VC funding has been theorized to serve as a proxy for level of innovation across multiple industries including healthcare. Innovation in obstetrics is critical to improving the lives of pregnant patients. Anecdotally however, innovation in the obstetric field is lagging. Therefore, our objective was to determine the level of VC funding in obstetrics compared to other seemingly innovative specialties. METHODS: We performed a retrospective cohort study utilizing propriety data (Pitchbook, Seattle, WA) to compare VC trends within Obstetrics and four additional specialties. Once cohorts were identified, "capital invested, " number of "VC-companies, " number of "deals, " number of "investors, " "exits" (IPOs), and "largest deal" were extracted and compared. RESULTS: Obstetrics had the lowest level of capital invested, the smallest number of funded companies, and the least amount of deals brokered between 2000 and 2018. Obstetrics was also identified as having the slowest rate of VC funding growth, but did have the third highest rate of growth in "companies" and "deal count." CONCLUSION: Obstetrics has the lowest level of innovation as measured by VC funding, VC-funded companies, VC deals, and rate of growth of VC funding compared to other specialties. However, company and deal growth rates were the third highest, indicating that Obstetrics has not yet realized its full, innovative potential. This is both encouraging and demanding given the great need for urgent, innovative solutions for obstetrics' most pressing dilemmas including the rising US maternal mortality rate.