Our mission
To collaborate and partner internally and externally to deliver strategic, innovative and mission-advancing solutions for the benefit of patients worldwide.
Our values
Mayo Clinic is a values-based organization. These values derive from our founders, the Doctors Mayo and the Sisters of St. Francis. Mayo Clinic’s primary value is the needs of the patient come first. Mayo Clinic’s values are foundational to the way the organization does business.
Our story
Fostering innovative ideas. Supporting bold initiatives. Advancing cutting-edge solutions. Those tenets are the bedrock of our philosophy in serving Mayo Clinic’s patient-centric mission and values.
We focus on strategic business opportunities from all angles that can help address the unmet needs of patients. From teaming up with proven innovators to the new entrepreneur on the block, we collaborate across the spectrum to bring disruptive healthcare technologies to life.
Ensuring alignment of values is at the core of our careful approach to building relationships with like-minded private organizations, investors and research entities. Our innovators and partners share our passion to solve some of the most complex medical problems through life-changing therapies, surgical procedures and technologies so patients everywhere can receive exactly the care they need when it is needed.
Mayo Clinic has long understood the importance of advancing innovation and commercialization to scale processes for broad application. What started as a modest technology transfer office nearly 40 years ago has fervidly grown to be what is now Mayo Clinic’s Department of Business Development, bearing with it a full toolbox for generating start-ups, license agreements, partnerships, strategic collaborations, acquisitions and venture investing.
Our multidisciplinary team carries the knowledge, skill and agility required to navigate the twists and turns of the paradigm shift occurring now in healthcare – understanding and catering to the latest in consumer demands and evolving market trends. We act as the bridge between industry and commercial groups to help pave the way.
The dedication and collaborative spirit embodied by our team, coupled with our accountability to place the needs of the patient first, will continue to support Mayo Clinic’s unwavering commitment to defining the next generation of healthcare.
A history of innovation & evolution
For more than 150 years, Mayo Clinic has produced meaningful and measurable changes in providing top-tier, best practices in medicine.
It is a great thing to make scientific discoveries of rare value, but it is even greater to be willing to share these discoveries and to encourage other workers in the same field of scientific research.
William J. Mayo, MD, 1935
Milestones
1892
1892
Non-Mayo physicians join, creating first integrated multispecialty group practice
1905
1905
Louis Wilson, MD, Mayo Clinic’s first researcher, develops frozen section pathology
1907
1907
Henry Plummer, MD, introduces the concept of integrated medical records
1950
1950
Mayo Clinic researchers Edward Kendall, PhD, and Philip Hench, MD, shared the Nobel Prize for discovery of cortisone
1955
1955
Mayo Clinic helps revolutionize open-heart surgery with the Mayo-Gibbon Heart-Lung Bypass Machine
1969
1969
Dr. Mark B. Coventry, a pioneering Mayo Clinic orthopedic surgeon, leads the team that performed the first successful total hip joint replacement in the United States
1971
1971
Creation of Mayo Medical Laboratories (MML), now known as Mayo Clinic Laboratories (MCL)
1985
1985
Creation of Mayo Medical Ventures, now known as Mayo Clinic Ventures
1986
1986
Mayo Clinic expands to Jacksonville, Florida
1987
1987
Creation of Mayo Clinic Arizona
1999
1999
Discovery of basis of PD-L1
2001
2001
First commercially available rapid anthrax detection kit is developed by Mayo Clinic and Roche
2014
2014
FDA approves Exact Sciences' Cologuard®; first and only stool DNA noninvasive colorectal cancer screening test invented by Mayo Clinic gastroenterologist David Ahlquist, MD. Read more.
2015
2015
Opening of One Mayo Square in Minneapolis, MN
2016
2016
Creation of Mayo Clinic’s Department of Business Development
2017
2017
Mayo Clinic partners with National Decision Support Company (NDSC) to develop CareSelect Lab™ — a decision-support tool
2018
2018
WuXi AppTec Group and Mayo Clinic Receive 2018 MedTech Insight Award for Best Alliance
2018
2018
Mayo Clinic joins a coalition of seven hospitals in launching Civica Rx, a not-for-profit generic drug company that will help patients by addressing shortages and high prices of lifesaving medications
2019
2019
Mayo Clinic launches its 2030 strategy to cure, connect and transform the future of healthcare
2019
2019
Mayo Clinic selects Google as strategic partner for healthcare innovation and cloud computing
2020
2020
Mayo Clinic selects nference as its first Platform partner to accelerate drug discovery and development
2021
2021
Mayo Clinic and Kaiser Permanente announce joint acquisition of Medically Home
2022
2022
$1B in revenue generated and returned to Mayo Clinic for advancements in patient care as a result of the commercialization of novel technologies invented by Mayo Clinic innovators
Mayo Clinic Ventures
To work with Mayo Clinic Ventures is to work with some of the most esteemed medical scientists in the world. The finest minds, focused on a responsibility to make medicine better, collaborate across specialties to solve complex research questions. Such a close integration makes it possible to quickly bring proven diagnostics and therapeutics to patients.
Corporate Development
By interfacing amongst Mayo Clinic’s three shields of clinical practice, medical education, and research, Corporate Development sources and develops new business opportunities and strategies for the benefit of Mayo Clinic and patients everywhere.
Our team
We’re not a traditional tech transfer office or corporate development firm — distinct in that we license Mayo Clinic’s intellectual property, form strategic collaborations, actively mine Mayo Clinic for ideas, teach entrepreneurism, start companies, run a business accelerator and participate in a multimillion-dollar venture and growth fund that supports economic development.
Behind it all is our dynamic team of varied professionals working with the shared goal of transforming healthcare.
