Governor Walz Highlights Australian Medical Technology Investments in Minnesota

[ST. PAUL, MN] – On the final day of Minnesota's trade mission to Australia, Governor Tim Walz celebrated recent and upcoming investments in Minnesota by Australian medical technology companies.

Governor Walz and the Minnesota trade delegation visited the Melbourne headquarters of Seer Medical on Friday as the company announced a new round of funding that could allow it to expand its operations in the U.S. Seer established its first U.S. office in Rochester in 2021 with two people, and now half its 17 U.S.-based staff are in Minnesota, with plans to expand. Seer researches and manufactures long-term brain and heart monitoring devices for diagnosing and forecasting seizure episodes.

"Minnesota's medical technology sector leads the world in innovation and discovery, and it's one of the powerhouses of Minnesota's economy," said Governor Walz. "Australian companies know the value of investing in Minnesota – that's why they're here now, and why they plan to grow here for years to come."

Governor Walz and the trade delegation also met this week with officials from three other Australian companies operating in Minnesota:

• Optiscan Imaging, a digital imaging technology manufacturer based in Melbourne that recently announced plans to open its first U.S. office in the Twin Cities;
• Saluda Medical, a company researching and manufacturing therapies for neurological disorders, which recently launched operations in Bloomington; and
• Mobius Medical, which recently selected Minnesota to host its U.S. offices.

Minnesota's trade mission to Australia – the first in the state's history – is deepening connections between the two trading partners, especially in the medical technology sector.

Australia imports $4.6 billion worth of medical equipment annually, making it a major potential market for Minnesota's world-leading medical technology industry. Minnesota already exports $74 million in medical products to Australia in 2022, 11th most among states. But Australia's growing demand for medical equipment means Minnesota companies stand to benefit from closer trade ties.

"Minnesota has the top health tech cluster in the world; the most Fortune 500 companies per capita in the U.S.; Medical Alley, a network of over 800 health care leaders; and a globalized economy with 900 foreign-owned companies from 40 countries operating in the state," said Department of Employment and Economic Development Commissioner Matt Varilek. "Simply put, we're the global epicenter of health innovation and care. We're proud companies like Seer, Mobius Medical, Optiscan, and Saluda call Minnesota their home away from home as they expand their North American footprint."

"SEER Medical, Optiscan, and Saluda are tremendous Medical Alley Partners — which exemplify the dynamic and collaborative relationship between Minnesota and Australia," said Medical Alley President and CEO Roberta "Bobbie" Dressen. "These investments are a testament to the transformative power of the Medical Alley ecosystem, and the commitment from Gov. Walz and DEED Commissioner Varilek to showcase Minnesota as a global hub of innovation."