Canon Healthcare Acquires Building in the Cleveland  Innovation District

Canon Healthcare USA, Inc. (Canon Healthcare), a subsidiary  of Canon Inc. (Canon), has announced its acquisition of an established building adjacent to Cleveland Clinic’s main campus in Cleveland. Canon aims to accelerate the growth of its medical business and Canon Healthcare in the U.S. market, which is extremely influential on the global market, is positioned to drive the growth. Canon expects the establishment of Canon Healthcare headquarters in Cleveland, Ohio as a core U.S. business operation requires substantial capital investment. The Ohio Department of Development (ODOD) approved the project for tax credit assistance during its Ohio Tax Credit Authority meeting today. This building will serve as the foundation for Canon’s new U.S. comprehensive imaging resource center, creating new jobs in medical imaging innovation and headquarters support. 

The center will be part of the Cleveland Innovation District, a more than $500 million public-private  partnership that brings the State of Ohio and JobsOhio together with Cleveland’s healthcare and higher  education institutions to accelerate research, create jobs and educate the workforce of the future. The  potential synergies with the Cleveland Innovation District attracted Canon to launch Canon Healthcare  as its new U.S. healthcare subsidiary in Cleveland in February 2023. Canon Healthcare is also in close  proximity to Canon group companies of Canon Medical Research USA, Inc., the newly opened Canon  Medical Academy USA and Quality Electrodynamics, LLC. 

The 43,000-square-foot building, located at the intersection of E.105th St. and Cedar Ave. in  Cleveland’s Fairfax neighborhood, will host the main office of Canon Healthcare as well as space for  other Canon entities. This site will also act as a hub for developing further U.S. and global collaborations.

“Canon Healthcare headquartered in Cleveland, Ohio is committed to improving patient care from  global perspective through innovative technology based on the ‘Made for Life’ philosophy,” said  Hisashi Tachizaki, President of Canon Healthcare. “This collaboration with Cleveland Clinic, alongside  existing and developing relationships with other major academic medical centers through activities  such as multi-center studies, allows us to leverage our mutual strengths to enable a future that delivers  on this promise.” 

The building will see multiple installations of imaging systems to support the strategic partnership  between Cleveland Clinic and Canon Healthcare developing innovative imaging and healthcare IT  technologies aimed at improving diagnosis, care and outcomes for patients. This site will bring together  a cross-institutional team of clinician-scientists and engineers to pioneer state-of-the-art technologies in  imaging systems such as MRI, CT, Molecular Imaging, Ultrasound and X-ray. Collaborative projects  will focus on cardiology, neurology and musculoskeletal medicine, and will have three major  components – pre-clinical assessment, human imaging and technological innovation. 

“We are pleased to welcome Canon Healthcare USA to the Cleveland Innovation District and look  forward to continuing our innovative collaboration,” said Serpil Erzurum, MD, Cleveland Clinic Chief  Academic and Research Officer. “Bringing together our collective strengths enables us to accelerate  pioneering developments in medical imaging and quickly bring these new advances to patients.” 

“Along with JobsOhio and other local partners, we welcome Canon Healthcare USA’s decision to  establish its U.S. comprehensive imaging resource center at the Cleveland Innovation District,” said  Ohio Governor Mike DeWine. “The investment validates Ohio’s commitment to attracting world-class  healthcare companies to northeast Ohio that will create healthcare products and solutions to improve  lives on a global scale.” 

A dedicated team consisting of JobsOhio, Team NEO, Ohio Department of Development, Greater  Cleveland Partnership, Cuyahoga County, and the City of Cleveland collaborated closely with the  company to ensure the successful execution of the project.  

“Canon Healthcare USA’s establishment of its new U.S. Healthcare Headquarters and R&D center is  exactly what was envisioned when the State of Ohio, anchor institutions, and JobsOhio invested in the  Cleveland Innovation District,” said JobsOhio President and CEO, J.P. Nauseef. “Attracting premier  life science leaders is evidence that these investments are working, demonstrating the value of our  research institutions and of our collaboration with Mayor Bibb, Governor DeWine, Team NEO,  Cuyahoga County, Canon, and our anchor partners.” 

“We are thrilled that Canon Healthcare USA has selected Cleveland’s Innovation District for its  national headquarters,” said Mayor Justin M. Bibb. “This investment is a testament to our growing  reputation as a leader in medical research, technology, and healthcare. We look forward to a strong  partnership that will drive economic growth, create opportunities for our residents, and improve patient  outcomes in communities across the nation.” 

The acquisition of the building and development of the new facility will bolster the local Ohio healthcare workforce and enrich the Cleveland community by nurturing and attracting talent and fostering innovation. Reflecting Canon’s commitment to contributing to advancing healthcare technologies that improve quality of life for everyone around the world, this move sees Canon strengthening its leadership role in the medical imaging research development and clinical solutions space.