MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
 

September 2023

Dear friends and colleagues,


I vividly remember when Aging2.0 was founded in 2012. It was one of the major grass roots efforts to bring AgeTech to life. It was exciting to see it grow to chapters in London, Atlanta, San Francisco, Austin, and more and find its new home with CEOc (formerly Louisville Healthcare CEO Council) in Louisville, Kentucky. We just learned that I will be receiving the inaugural Aging2.0 Lifetime Achievement Award, which honors individuals who have made a positive impact on the aging space. We could not be happier to see so many of our colleagues and friends at OPTIMIZE on September 27-28 (register by September 22nd using this link for an exclusive "Friend of Mary" discount). 


Of course, we're also busy planning our What's Next Longevity Innovation Summit, which will be held December 12-13. With the theme of Investment and Innovation in the Care Economy, it is sure to be chock full of insights into the field and opportunities to connect with start-ups and funders. Register today!


Warmly,

Mary

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Table of Contents:
  • MFA Events
  • MFA Podcasts
  • Funding News
  • Corporate Updates
  • Books, News, and Reports
MFA Events
Mark Your Calendar - December 12-13!

Registration is now open for the What’s Next Longevity Innovation Summit, taking place at the National Press Club in Washington, DC, December 12-13, 2023. The theme for the conference is Investment and Innovation in the Care Economy. Experts will address topics around policy, innovation, regulatory environments, public-private partnerships, and how the longevity economy and care economy are driving the future of healthcare in the U.S. and globally.
MFA Podcasts
What's Next Longevity Deal Talk
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Episode 23: Longevity Venture Partners, Intuition Robotics & More – Longevity Venture Partners Managing Partner Raissa Hacohen joins Mary and Fred from Israel to unveil three new deals. Plus, hear news from Intuition Robotics, Blooming Health, and the upcoming Aging 2.0 Optimize conference where our own Mary Furlong will receive a lifetime achievement award!


Check out the full list of What's Next Longevity Deal Talk episodes.

What's Next Living Longer Better Smarter
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Episode 56: Reach Out and Play — Ready for some fun? Ageless Innovation CEO Ted Fischer and AARP VP of Fun and Fulfillment Heather Nawrocki discuss the launch of Reach Out and Play sponsored by AARP, which is all about versions of familiar board games newly reimagined to bring generations together. Plus, Wichita State Professor Michael Rogers highlights the health benefits of playing with grandchildren. And we say a fond farewell to Jimmy Buffett.

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Episode 57: Aging, Actions and Attitude — Mary and Fred are joined by Sherri Snelling to hear about her new book, Me Time Monday. They’re also joined by best-selling author Dr. Michael Roizen who shares about a new Longevity Playbook app and CEO Danielle Ruiz at Everest Health Partners who shares about new approaches to health care.


Check out the full list of What's Next Living Longer Better Smarter episodes.

Funding News


  • Intuition Robotics, creator of the ElliQ AI-powered companion robot, raised $25 million led by Woven Capital. 
  • Agetech company Blooming Health raised $4.2 million in Seed funding led by Afore Capital and Crossbeam Venture Partners. 
  • Chronic pain care company Override raised $1 million in a private stock sale led by Esplanade Ventures. 
  • Real estate investment and development firm Confluent is developing a $500 million pipeline for senior housing projects. 
  • Endear Health, a platform focused on increasing technological use and connectivity among seniors, raised $8 million in funding led by Optum Ventures, Blue Cross of Idaho, and 8VC. 
  • Visana Health, a virtual-first women’s health clinic available in all 50 states that provides care from menstruation through menopause, raised $10 million in Seed funding led by Flare Capital Partners and Frist Cressey Ventures.
Corporate Updates

Learn About the Community Challenge Grant Program


In 2017, AARP created the Community Challenge grant program to make communities across the country great places to live for people of all ages and abilities. Since then, AARP has invested more than $16 million, supporting projects in every state, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. Learn more about this year’s projects, which will create more engaging public spaces, enhanced options for housing and transportation, better digital connections, and improved access to local resources in Nancy LeaMond’s new blog.

Join Mary Furlong and Botco.ai for Trends in Senior Living


Register for the upcoming webinar 'Trends in Senior Living' on September 21st at 11 AM PDT, where Botco.ai Executive Chair Anu Shukla will be joined by Mary Furlong and by Pamela Maloney. Additionally, Botco.ai will be at SMASH 2023, a must-attend event for senior care marketing and sales professionals, on October 16-18, 2023, in Las Vegas, NV – and hopes to see you there!

GetSetUp Renews MDHHS Partnership & Athletes in the News


The Michigan Department of Health and Human Services (MDHHS) has renewed its partnership with GetSetUp for the third consecutive year. This continued alliance aims to empower older adults across Michigan through virtual classes, giving them the tools they need to age well and stay active. Additionally, GetSetUp’s Athletes continue to grab headlines, underscoring the importance of positive and impactful media representation of older adults. Athlete Mike Adsit was featured in Bicycling Magazine—an article that was syndicated to Yahoo and other publications.

CABHI Invests $5 million in 19 AgeTech Companies


The Centre for Aging + Brain Health Innovation (CABHI) recently announced that it has funded 19 Canadian AgeTech companies to receive up to $400,000 each to support their early-stage innovations aimed at improving the quality of life for older adults, people living with dementia, and caregivers. Two of them were also included on Forbes’ 30 Under 30 Local.

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Centaur Robotic Wins People's Choice Award 


TravelAbility's InnovateAble Pitchfest showcased ten innovative companies and startups improving travel for people with diverse needs. The audience's top pick was Centaur, a two-wheeler that spins, maneuvers in tight spots, and raises riders to eye level.

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Silverado Exclusively Selects Phoenix Hipwear


Phoenix Hipwear has been selected by Silverado as the exclusive provider of hip protectors for their residents. According to Kim Buturm, SVP of Clinical Services at Silverado, "People living with a memory impairing disease are at high risk for falling. We recommend Phoenix Hipwear to our residents living in long term residential care, as an effective tool to reduce the chance of a hip fracture occurring with a fall. Phoenix Hipwear has a superior product and excellent customer service. We strongly recommend them."

Ageless Innovation Launches Reach Out and Play


Continuing its focus on combatting loneliness and social isolation in older adults, Ageless Innovation recently launched Reach Out and Play, sponsored by AARP, leaning into the power of playing board games to make memories and meaningful connections. CEO Ted Fischer was featured in The Wall Street Journal discussing the campaign and the company’s newest innovation – reimagined classic board games designed to meet the need and interests of older adults, including The Game of Life Generations, Scrabble Bingo, and Trivial Pursuit Generations. Events around the country kicked off on September 5, and are open for registration here.

Senior Living Growth From Satellite Campuses


Satellite campuses have become a common growth strategy for single-site senior living providers. Typically having no skilled nursing on-site, they focus on independent living and incur less risk. According to a recent survey, 12% of senior living providers reported that they plan to grow through the development of a satellite campus in the next two years.

UpLyft Raises $1.2 Million


UpLyft, the developer of a self-transfer system designed to help people with limited mobility, closed an additional $1.2M in financing. Funds from the Seed Preferred Stock Round and existing sale-leaseback facility with Kineo Finance are supporting UpLyft's second manufacturing run, with over 60% pre-orders. They've also signed their first international distributor and are expanding customer service, marketing, and sales functions to serve seniors, nurses/caregivers, and people with disabilities.

Books, News, and Reports


  • The American Health Care Association (AHCA) published a report indicating an alarming state of nursing homes in the country. 
  • The Centers for Medicare & Medicaid Services (CMS) proposed first-time national minimum nurse staffing standards that will require nursing homes to provide residents a minimum number of hours of direct care per day. 
  • A KFF analysis found insurers are set to receive at least $12.8B in Medicare Advantage bonus payments this year. 
  • While the number of people with disabilities generally declined over a decade, a new study found Black Americans experienced more cognitive impairments and limitations in their activities of daily living. 
  • Centers for Medicare & Medicaid Services (CMS) announced that it will increase payments to skilled nursing facilities by 4% or $1.4 billion starting in 2024.
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