🩺 Digital & Telehealth Up 30%. $55M+ VC Funding.
Impact Capital Markets #46 looks at our Digital & Telehealth stock index, major impact deals, M&A, and upcoming economic releases.
Konnichiwa 🎎
📉 Today's Global Economic Update: US employment data revealed a 0.2% point increase in the unemployment rate to 3.9% in February 2024, marking its highest level since January 2022.
🌿 Deal of the Day: The Ayurveda Experience, a health and wellness company, raised a $26.5M Series C for product R&D.
What's New?
- 🩺 Digital & Telehealth. Digital & Telehealth index grows 30%
- 💰 Funding. Wellness, skincare & battery technology
- 💼 M&A. Sugar Foods acquires Concord Foods
- 📅 Economics. Employment data, UK GDP, US inflation + more
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🩺 Digital & Telehealth Grows 30%
HolonIQ's Digital and Telehealth Index has increased by 30% over the past year. Major stocks in the index increased, including DexCom ($52B MCap) which saw a 22% increase, and Pro Medicus Ltd ($7B MCap) which exhibited a 60% rise. ResMed ($28B MCap) saw an exception to the trend, with a 9% decline over the year.
The Digital and Telehealth market has experienced significant growth due to rising demand for convenient healthcare services. Customers prefer digital solutions for remote monitoring, online medical advice, and medication purchases. The COVID pandemic fast-tracked industry expansion, witnessing an increase in online pharmacy usage and the adoption of virtual doctor appointments as a safe and convenient way of attending medical consultations. Virtual Fertility and medication tracking apps are also becoming increasingly popular. As digital technologies continue to advance, the market is poised for further growth and innovation, revolutionizing the way healthcare is delivered and experienced globally.
💰 Funding
🌿 The Ayurveda Experience, an Indian health and wellness company, raised a $26.5M Series C from Jungle Ventures for product R&D.
🧴 Foxtale, an Indian skincare brand, raised $14.5M from Panthera Growth Partners to solidify its market position.
🔋 Glimpse, a Massachusetts-based battery technology company, raised a $4M Seed from Ibex Investors & Flybridge to expand operations.
💼 M&A
🛒 Sugar Foods Corporation, a New York-based food production company, acquired Concord Foods, a Massachusetts-based retail food products and custom ingredients supplier.
📅 Economic Calendar
Employment Data, UK GDP, US Inflation + More
Tuesday, March 12th 2024
🇦🇺 Australia NAB Business Confidence, February
🇬🇧 UK Unemployment Data, January
🇺🇸 US Core Inflation Data, February
🇺🇸 US Inflation Data, February
Wednesday, March 13th 2024
Thursday, March 14th 2024
🇺🇸 US PPI Data, February
🇺🇸 US Retail Sales Data, February
Friday, March 15th 2024
🇺🇸 US Michigan Consumer Sentiment Data (Preliminary), March
Monday, March 18th 2024
🇨🇳 China Industrial Production, Jan-Feb
🇨🇳 China Retail Sales Data, Jan-Feb
Tuesday, March 19th 2024
🇯🇵 Japan BoJ Interest Rate Decision
🇦🇺 Australia RBA Interest Rate Decision
🇩🇪 Germany ZEW Economic Sentiment Index, March
🇺🇸 US Building Permits Data (Preliminary), February
🇨🇦 Canada Inflation Data, February
Wednesday, March 20th 2024
🇬🇧 UK Inflation Data, February
🇺🇸 US Fed Interest Rate Decision
🇺🇸 US FOMC Economic Projections
Thursday, March 21st 2024
🇺🇸 US Fed Press Conference
🇯🇵 Japan Balance of Trade, February
🇩🇪 Germany HCOB Manufacturing PMI (Flash), March
🇬🇧 UK BoE Interest Rate Decision
Friday, March 22nd 2024
🇯🇵 Japan Inflation Data, February
🇬🇧 UK Retail Sales Data, February
🇩🇪 Germany Ifo Business Climate, March
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