MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
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Dear Friends and Colleagues,
We chose to open with a photo of this beautiful redwood tree that I discovered on a walk with a friend in Oakland, CA. Right now, it is so difficult for so many - the Afghanistan refugees, the West Coast fire victims and firefighters, the hurricane victims, and all of us impacted by the COVID pandemic. (For those who want to lend their support, I recommend donating to the Red Cross, which provides support after a variety of crises) And, most recently, we were saddened by the passing of Ed Asner, whom we had the fortune to spend time with in June when he shared his inspiring advocacy work and personal outlook. The sturdiness of this tree that has survived for so long reminds us that we can find resilience and carry on despite the challenges and losses we may face.
It also makes me think of the inspiring resilience of the longevity field. Businesses are working across multiple channels and, in some cases, across multiple countries to find solutions and success. Deals like Honor acquiring Home Instead (see below) are record-breaking. Expect more to come. At our upcoming conferences - including the RESI Longevity Conference September 16-17 and the Washington Innovation Summit on December 1-2 - we will learn more about opportunities and progress in this field.
We look forward to continuing to find resilience together.
Warmly,
Mary
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Table of Contents:
- New podcast on the Biggest Deal in Longevity!
- Register for the Longevity Innovation Summit
- Join MFA at the RESI Longevity Conference
- Funding News
- Corporate Updates
- Books, News, Reports
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New Podcast on the Biggest Deal in Longevity - Honor's Acquisition of Home Instead!
The latest What’s Next: Living Longer Better Smarter podcast - Transforming Care at Home: Honor and Home Instead - explores innovations in home care, highlighting one of the biggest deals to happen in that space. Our guests share insights on Honor’s acquisition of Home Instead Inc., which has created a combined organization representing $2.1 billion in home care services revenue. Seth Sternberg, Honor’s co-founder and CEO, and Jeff Huber, CEO of Home Instead, elaborate on what it means to partners, franchisees, and clients. Learn about their vision for the integration and the role technology will play in providing better in-home services for seniors.
You can also listen to our previous podcast, Aging and the Olympics: A View from Japan.
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Register for the Longevity Innovation Summit!
Now in its fourth year, the What’s Next Longevity Innovation Summit helps leaders in the innovation ecosystem connect and informs entrepreneurs and investors about how to navigate the regulatory environment. This year’s summit, themed Innovation, Investments, Infrastructure, and Influencers, will be held December 1-2. Register now for the early bird rate!
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Join MFA at the RESI Longevity Conference
MFA is helping to organize the RESI Longevity Conference, which is being held from September 16-17. RESI Longevity is a new partnering conference focused on early-stage companies in the longevity field. RESI Longevity brings fundraising startups together with investors to make deals that help older adults live longer, healthier lives. Over 120 investors are already registered! Sign up now using the discount code MFA20 to save 20%.
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Funding News
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Corporate venture capital is setting records so far this year.
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Welsh, Carson, Anderson & Stowe announced the formation of a $300 million portfolio company focused on value-based care.
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Sharecare acquired CareLinx for approximately $65 million, expanding into home care.
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Vira Health, a digital health company focused on menopause care, raised £1.5 million in seed funding.
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WellSky is acquiring Healthify in a deal expected to close in the third quarter of 2021.
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Connie Health, a Medicare navigation platform, raised $13 million in Series A funding led by Khosla Ventures and Pittango Healthtech.
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A marketplace connecting seniors and caregivers, Meetcaregivers Inc, raised over $1 million in funding to scale its services.
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Provider of value-based kidney care, Cricket Health, raised $83.5 million in Series B funding led by Valtrius.
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Cardior Pharmaceuticals, a Germany-based cardiac biotech company, raised €64 million in Series B funding led by Inkef Capital.
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Voters Agree - We Need to Support Family Caregivers
“America’s 48 million family caregivers are the backbone of a fragmented and outdated long-term care system, and their backs are breaking.” -- Nancy LeaMond, AARP’s EVP and Chief Advocacy and Engagement Officer.
Across the country, parents, spouses, and other loved ones rely on our nation's nearly 48 million family caregivers for assistance - often serving unpaid and increasingly at home. On average, these individuals incur an annual cost of $7,242 a year on their loved ones’ care, with eight in ten taking on costs for housing, health care, and other necessities. Family caregivers deserve our support and older voters couldn’t agree more. A new survey conducted by AARP Research found that older voters (ages 50+) overwhelmingly recognize the need to shakeup the status quo of our damaged care system. A staggering 80% of older voters support providing family caregivers with a tax credit to help offset the cost of caring for a loved one. Regardless of party, nearly all respondents found it important to make home-based services available, with 80% supporting increasing resources for in home care services - reinforcing the idea that home is the new frontier of care.
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Obie for Seniors by EyeClick Continues to Receive Positive Press Coverage
Obie for seniors received more positive news coverage over the past month. Spanish digital magazine Geriatricarea.com featured an article about Obie’s installation in DomusVi España senior facilities in Spain, a leading care home operator managing hundreds of care homes throughout Europe. A number of news outlets covered the rollout of Obie in The Virginian, including McKnights Senior Living and The Fairfax Times.
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GetSetUp Continues Global Expansion
GetSetUp will now be offered to members of Ashiana Housing, India's largest senior living brand, which is valued at a billion dollars. This validates GetSetUp's global leadership in the virtual senior wellness and lifelong learning space. With over 800,000 GetSetUp members in India alone, Ashiana believes that GetSetUp will be a key attraction in their facilities for new prospects and existing member retention.
Additionally, this past month the company signed five partnerships with key employee benefits companies and is now available as an eldercare resource in almost every Fortune 500 company. Finally, GetSetUp's co-Founder Lawrence Kosick was profiled in Authority Magazine talking about how GetSetUp can impact wellness.
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Centaur Robotics Progresses in Judging for Design Intelligence Awards
The Centaur, a self-balancing personal electric vehicle designed and built by Centaur Robotics, has made it to the penultimate round of the global Design Intelligence Awards (DIA) run by the highly respected China Academy of Art. It will now be scrutinized by a jury of experts from around the world for the prestigious award. In addition to the $750,000 prize fund, the DIA also provides a platform to accelerate international trade and open up commercial opportunities.
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GlycanAge Sees Exciting Scientific Support
Two scientific studies were recently published supporting the validity of GlycanAge. The Journal of Hypertension published a study on twins, indicating the predictive power of IgG glycome composition for future development of hypertension. A separate, independent study found that GycanAge better captures risks associated with aging, rather than chronological age.
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