👵 Aged Care Up 25%. $390M+ VC Funding Day.
Impact Capital Markets #74 looks at our Aged Care stock index, major impact deals, M&A, and upcoming economic releases.
Aloha 🌺
📉 Today's Global Economic Update: The UK's inflation rate dropped to 3.2% in March 2024, slightly above expectations, driven by slower food inflation. Core inflation also decreased to 4.2%, marking the lowest rate since December 2021.
🚁 Deal of the Day: Skyports, an urban air travel, and drone delivery company raised a $109M Series A to support growth efforts in its infrastructure and operational activities.
What's New?
👵 Aged Care. Aged Care 3M returns flat, Up 25% YoY
💰 Funding. Air travel, biotechnology, plastic degradation + more
💼 M&A. GenSpark acquires ProGrad
📅 Economics. US GDP, Japan inflation & interest rate decision + more
👵 Aged Care 3M Returns Flat, Up 25% YoY
HolonIQ’s Aged Care index performance remained unchanged from its value three months ago, after registering a 5% growth in March. The aged care sector faces both a pressing challenge and a significant opportunity as global demographics shift toward an aging population. With approximately 1 in 6 people projected to be aged 60 or above by 2030, an imminent surge in demand for aged care services looms. Key stocks within the index saw increases, including Welltower Inc., which saw an increase of 4%. Other major stocks saw declines, setting off these gains, including Sonova Holding AG ($17B MCap) and Ventas, Inc.($17B MCap), which declined 3% and 14%, respectively. Despite the recent leveling off, the index has registered a yearly growth of 25%.
The outlook for the index may benefit from new expansions by companies like Encompass ($8B MCap), which plans to establish six new hospitals in 2024. Despite this growth potential, persistent staffing shortages, insufficient funding, and regulatory compliance issues could potentially impede industry progress. Enrollment rates in aged care facilities are also expected to slow down, which could dampen future index performance.
💰 Funding
🚁 Skyports, a UK-based urban air travel, and drone delivery company raised a $109M Series A from ACS Group Directory to support key developments in its infrastructure and operational activities.
🪐 ICEYE, a Finnish space startup, raised $99M in a corporate growth funding round from Solidium Oy to expand its range of data and subscription offerings.
🧬 Asher Bio, a California-based biotechnology company, raised a $55M Series C from RA Capital Management to advance the clinical development of its lead program.
🔬 Theolytics, a UK-based clinical-stage biotechnology company, raised $24.5M from Sound Bioventures to support the testing of a promising cancer treatment, THEO-260, in ovarian cancer trials.
💊 Phlo, a UK-based digital pharmacy, raised $11M from Par Equity to scale its digital healthcare business.
⚡ Found Energy, a Massachusetts-based renewable energy company, raised a $12M Seed to provide pilot systems to early users this year and to support efforts to develop its technology.
♻️ Breaking, a Texas-based plastic degradation and synthetic biology company, raised a $10.5M Seed to expand operations and R&D efforts.
⚛️ Blykalla, a Swedish nuclear reactor developer, raised a $7.3M Series A from Norrsken Launcher to develop its advanced nuclear reactor.
💼 M&A
👩💼 GenSpark, an Indian tech training and development solutions provider, acquired ProGrad, a tech talent solutions firm in India.
📅 Economic Calendar
US GDP Data, Japan Inflation & Interest Rate Decision + More
Thursday, April 18th 2024
🇯🇵 Japan Inflation Data, March
Friday, April 19th 2024
🇬🇧 UK Retail Sales Data, March
Tuesday, April 23rd 2024
🇩🇪 Germany HCOB Manufacturing PMI (Flash), April
🇦🇺 Australia Inflation Data, Q1
Wednesday, April 24th 2024
🇩🇪 Germany Ifo Business Climate Index, April
🇺🇸 US Durable Goods Orders Data, March
Thursday, April 25th 2024
🇩🇪 Germany GfK Consumer Confidence Index, May
🇺🇸 US GDP Growth Data, Q1
🇯🇵 Japan BoJ Interest Rate Decision
Friday, April 26th 2024
🇺🇸 US Core PCE Price Index, March
🇺🇸 US Personal Income & Spending, March
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