UPMC and the Stentor Deal

So UPMC walks away with $36 million after selling its stake in Stentor, which is just fine for UPMC. But it's positively bizarre for anyone to accept the claim that UPMC's increasing its commercialization of medical technologies helps job growth in Pittsburgh. (I understand why UPMC would make the claim; I just don't understand why anyone would buy it.) This is biotech and biomed, and more robust high tech markets than Pittsburgh have learned, over the last 25 years, that both biotech and biomed means lots of capital, lots of little companies, and if all goes really, really well, a handful of big winners a long ways down the road. Maybe biotech will bring lots of jobs to Pittsburgh someday, but in the short term -- that is, over the next few years -- it will bring them by the thimble-ful.


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Pittsblog 2.0 is written by Mike Madison, a law professor at the University of Pittsburgh. Send email to michael.j.madison[at]gmail.com. Mike also blogs at Madisonian.net, on law and technology. Chris Briem of Null Space drops by from time to time.

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