The silver economy is in its prime

Europe’s senior population (65+) will reach 130 million by 2050, providing an excellent opportunity for elder-targeted products and services.

Remote patient monitoring, telemedicine, and wearable devices such as smartwatches can make virtual healthcare a reality in an increasingly technologically driven society, particularly for those suffering from chronic conditions.

In 2015, EU-27 households with a person aged 60 years or more tended to spend proportionally more of their expenditure on health (42% higher than the average share for all households). 

Since 2016, senior support startups have raised $1.2 billion globally, and series B+ rounds become more typical as the sector matures. Day-to-day care services and products are benefiting the most from the silver economy, receiving almost $500 million since 2016.

Download The State of European Insurtech 2022 report to learn more. 👇

In other news 

🩹 Stick-on ultrasound patch hailed as revolution in medical imaging. The wearable patch, which is the size of a postage stamp, can image blood vessels, the digestive system and internal organs for up to 48 hours. The breakthrough will give doctors a more detailed picture of a patient’s health than the snapshots provided by routine scans. - The Guardian

👶👶 Conjoined twins separated with the help of virtual reality. Surgeons in separate countries wore headsets and operated in the same "virtual reality room" together. The twins had seven surgeries, involving more than 27 hours of operating time in the final operation alone, and almost 100 medical staff. - BBC

🌡 Natural Cycles now accepts temperature data from the Oura smart ring. The partnership lets Natural Cycles users pull in temperature information from their Oura Ring rather than manually take a temperature for the app each morning. Natural Cycles uses daily temperature measurements and period cycle tracking information to predict the days of the month when someone is least likely to get pregnant. - The Verge

Latest healthtech and biotech deals

The largest from last week:

🇬🇧🇩🇪 One of Europe’s leading providers of digital-first home healthcare, Cera Care, has secured over €310M. Operating in the UK and Germany, the startup is freeing up hospital beds and empowering elderly and vulnerable patients to access better and more affordable care from the comfort of their own homes.

🇺🇸 Cleerly, a digital healthcare company creating a new standard of care for heart disease, announced that it has closed a Series C financing round of $223M. 

🇮🇳 Eye care chain ASG Eye Hospital raised $188M in a round led by new investors General Atlantic and Kedaara Capital. This is the largest private equity funding in India's eye care industry after the $132M raised by Dr Agarwal’s Health Care Ltd, earlier in May.

🇬🇧 F2G, a Manchester, UK-based clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat life-threatening rare fungal infections with a high unmet medical need, received $70M in financing.

Other notable deals from around the globe:

🇺🇸 Vicinitas Therapeutics, a biotechnology company advancing a proprietary targeted protein stabilization platform to develop novel therapeutics in cancer and genetic disorders, launched with $65M in Series A financing.

🇨🇳 Da Mi & Xiao Mi, a provider of therapy and rehabilitation services in China for children aged between 3 and 12 years old with Autism Spectrum Disorder (ASD), raised $42M in a Series D fundraising round.

🇺🇸 Atia Vision, a Shifamed portfolio company committed to improving patient outcomes through the development of a modular presbyopia-correcting intraocular lens (IOL), raised a $42M Series E financing round.

🇺🇸 Novasenta, a startup biotechnology company focused on the discovery and validation of novel targets to develop cancer therapies, raised $40M in Series A financing.

Read up on all the latest health deals in Dealroom.co

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Laura Rodriguez

Healthtech Specialist
Dealroom.co

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