MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
October 2021
Dear Friends and Colleagues,

As we are solidly into the fall season, there is so much to be excited about! I love watching the leaves change colors and the pace of business pick back up. Continue reading to learn about the many deals, opportunities, and reports that have already been released this fall.

At MFA, we are tracking the trends in longevity that evolve with the seasons:

  1. Changes in DC that are fostering collaboration between government, investors, and businesses in longevity;
  2. Innovations that are bridging the digital divide; and
  3. The home as the new health hub.

With those trends in mind, we are excitedly planning for our What’s Next Longevity Innovation Summit in December. We are thrilled to announce that Andrew Parker from Papa will be our keynote speaker. He and others will be sharing the latest on the market, emerging trends, and new opportunities.

Warmly,
Mary
Table of Contents:
  • Early Registration for the Longevity Innovation Summit Ends 10/31
  • New Podcast: Focusing on Fitness & Your Health
  • Funding News
  • Corporate Updates
  • Events and Promotional Opportunities
  • Books, News, Reports
Early Registration for the Longevity Innovation Summit Ends 10/31

Now in its fourth year, the What’s Next Longevity Innovation Summit is the place to hear from thought leaders in the $8.3 trillion longevity economy. How will the regulatory and reimbursement environments change in 2022? Who should you be partnering with in the government, nonprofit sectors? What are the global trends and who is innovating and investing in longevity worldwide? Also explore our Innovators Showcase opportunities! This year’s summit, themed "Innovation, Investments, Infrastructure, and Influencers," will be held virtually December 1-2. Register now for 30% off the full ticket price.

You can also sign up now to exhibit at the Summit. Register now using code Exhibitor20 to save 20%!
New Podcast: Focusing on Fitness & Your Health

Listen to the newest What’s Next Living Longer Better Smarter podcast on fitness and health for older adults. With the pandemic still with us and new vaccine advisories, how can older adults protect themselves? One way is to pay more attention to fitness and health. Joining co-hosts Mary Furlong and Fred Fishkin are Dr. Prentiss Taylor from Doctor on Demand, GetSetUp co-founder Lawrence Kosick and Dance4Healing founder Amy Li. Listen or view the podcast now!
Funding News

  • Walgreens announced a $5.2 billion investment in VillageMD and $330 million investment in CareCentrix to further its presence in home-based care. 
  • Technology raised $70 million in Series E funding and $300 million in debt financing led by Baillie Gifford, building upon its acquisition of Home Instead in August. 
  • After acquiring firstSTREET for Boomers and Beyond Inc., Peloton announced the launch of Journey Health & Lifestyle – a new partnership to acquire and develop health and lifestyle products for older adults.
  • Devoted Health, a tech-driven Medicare Advantage plan, raised $1.15 billion in Series D funding led by Uprising and Softbank Vision Fund 2. 
  • Capital One has announced it will acquire healthcare investment bank TripleTree.
  • Aging 2.0, a network for innovators and start-ups in aging, has been acquired by the Louisville Healthcare CEO Council (LHCC). 
  • Family First, an employee caregiving benefit, acquired Active Daily Living, a resource platform for family caregivers for an undisclosed amount. 
  • AlleyCorp launched the $100 million AlleyCorp Healthcare Fund to fund and incubate early-stage healthcare start-ups. 
  • Wefight, a French company that guides patients with chronic conditions and cancer, raised €10 million to grow its team and expand throughout Europe and internationally.  
  • Empathy, which helps people navigate the process of bereavement, raised $30 million in Series A funding led by Entrée Capital. 
  • Onera Health, a Netherlands-based sleep diagnostic and monitoring solutions company, raised €10.5 million in Series B funding led by Innovation Industries.
Corporate Updates
Our Nation's Caregivers Need Paid Family and Medical Leave

Our nation’s 48 million family caregivers are justifiably overwhelmed. Six in 10 report that they hold full time or part time jobs, with the balancing act at home becoming more complicated for those with fewer resources, including low-paid workers, women, and people of color. This translates to more than half of working caregivers being forced into taking time off, changing their hours, or working fewer hours. In response to these challenges, Nancy LeaMond, AARP’s EVP and Chief Advocacy & Engagement Officer, writes “guaranteeing paid family and medical leave is a practical, common-sense step to take in an aging society where more and more people will need care.” Read more on the necessity of paid family leave from Nancy LeaMond, Chief Advocacy and Engagement Officer at AARP.
GetSetUp Continues to Expand its Partnerships

GetSetUp continues its rapid growth with exciting new (and renewed) partnerships, including with: 
  • Uber to help increase mobility for older adults by offering co-branded classes to help older adults feel confident and comfortable using the rideshare app. 
  • Orange County as part of $2.4 million the county is investing to help bridge the digital divide for the over 600,000 older adults. This funding will provide older adults with iPads and data plans, training on technology through GetSetUp, technology support, and a subscription to GetSetUp’s interactive platform of virtual classes for ongoing wellness.
  • New York State Office for the Aging (NYSOFA) and The Association on Aging in New York (AgingNY), in a newly extended partnership to continue to help bridge the digital divide and reduce social isolation for the 4.3 million older adults in the state of New York.
AI Chat Platform Botco.ai Receives Funding & Launches Educational Resources

Botco.ai made a splash in the venture capital world after closing its seed funding round at a total of $3.6 million, including the investment from VamosVentures, a fund focused on Latinx founders. Last month, the AI chat platform also launched an ebook titled 25 Best Practices to Turn a Website Into a Conversation. The ebook shares tips and insights to improve leads, engagement, and revenue with chat. Botco.ai also hosted a webinar in partnership with Merkle which unpacks the evolution of conversational marketing. Catch the session Conversational Websites: How They Will Change the Game on-demand here.
LIFESMART Launches "Make Life Easy" Campaign

LIFESMART, a home improvement product manufacturer, has launched its “Make Life Easy” campaign. Since its inception in 2008, the company has focused on making life easier and more convenient for customers. The new campaign aims to improve quality of life for customers through its products ranging from air purifiers to grills to powerlift chairs.
BrioCare Wins the Aging 2.0 Global Innovation Contest

BrioCare is the proud winner of the 2021 Global Aging 2.0 contest! As part of the prize, BrioCare will participate in the LHCC 2022 pilot program.
Solera Senior Living Selects OdessaConnect for Cutting-Edge, User-Friendly Technology

Solera Senior Living, a Denver-based operator, developer and investor of next generation senior living communities, has selected OdessaConnect to provide efficient and safe in-community technology solutions for residents, staff, and families for several of its flagship communities across the US, including Modena Cherry Creek (Denver, Colo.), Modena Reserve at Kensington (Kensington, Md.), The Reserve at Lake Austin (Austin, Texas) and Trulee Evanston (Evanston, Ill.)
MemoryWell Awarded NIH Grant

MemoryWell has been approved for a $500,000 NIH Small Business Innovation Research grant. The grant will fund a usability/feasibility study to adapt its life story process for an acute care setting in partnership with UCSF's geriatric unit. This study will help MemoryWell begin to build the rigorous research base it needs to make life storytelling evidence-based medicine.
Events and Promotional Opportunities

  • The 2022 Remote Patient Monitoring Summit will be held January 31–February 1, 2022, in Las Vegas. The summit will examine trends related to remote patient monitoring development, reimbursement, and outcomes. 
  • The National Institute on Aging has an array of small business opportunities, including for entrepreneurs, for projects addressing dementia, and others. Learn more here. 
  • The CABHI Summit 2022 will be a two-day virtual event exploring the intersection of longevity, healthtech, and business. This year’s Summit will be March 23-24. Pre-register now.
Books, News, and Reports

  • AARP’s newest report looks at how mid- and late-career women were impacted by COVID-19. 
  • Staff shortages across long-term care settings are creating further challenges, including limits on admissions, closures of providers, and increasing the burden upon remaining staff, according to a Forbes article. 
  • In her opinion piece in Time, Melinda French Gates argues that Congress must establish a national paid leave program. 
  • SilverBills received a $1.9 million Small Business Innovation Grant from NIA and NIH to develop legal and financial supports for caregivers of people with dementia. 
  • Listen to a New York Times interview about the quest for immortality and the business of longevity. 
  • Alzheimer’s Disease International released its World Alzheimer Report 2021, which estimates that 75% of people with dementia (41 million people) are undiagnosed worldwide.
  • Dr. Landers of VNA Health Group argues that the expansion of home health services will be dependent upon innovative options to expand the supply of nurses that play a key role in home health. Since home health care depends upon nurses 
  • A recent version of the federal reconciliation bill would create an auto-IRA program that could help people better save for their retirement. 
  • Better data is allowing people to more accurately estimate what long-term care costs will be for older adults, but most people still will be unable to afford it, according to a New York Times article.
  • Alexa launched Alexa Together, a paid service to help caregivers remotely monitor and assist older adults.
Congrats to the RESI Longevity Innovator’s Pitch Challenge Winners!

Last month’s RESI Longevity Conference included the Innovator’s Pitch Challenge for early stage startups. Three impressive companies won, including:
  • Embrace Prevention Care, which provides chronic care management to keep older adults healthier;
  • Praetego, a biopharma company that seeks to delay the onset of age-related chronic conditions; and
  • Alertgy, which offers a wristband that monitors blood glucose levels in real time.
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