📡 Health Data Interoperability + ANZ Health Tech 100

Hello 👋

Despite recent advancements, interoperability disparities exist within healthcare, mostly determined by the size and scale of the facility. In the Health Tech market, we revisit the 2023 Australia and New Zealand Health Tech 100, highlighting the region's most promising startups in the health technology sector.

This Week's Topics

📡 Health Data Operability. Despite recent innovations, disparities in interoperability still exist in health
📈 Health Insurance Index. Up 27% YoY
🏆 Australia and New Zealand Health Tech 100. ANZ's most promising startups working in digital health, biotech, drug discovery, and analytics
📖 Annual Health Tech Outlook. 190+ pages of trends, insights, and data
💰 Health Tech Deals of the Week. Funding and M&A

Don't forget to check out the 2024 Global Health Tech Outlook and sign up for our Daily Newsletters, Chart of the Day, and Impact Capital Markets. For unlimited access to over one million charts, request a demo.

📡 Health Data Interoperability

Health data interoperability, the exchange and integration of data across health information systems, is crucial for advancing patient care, public health, and medical research. Despite recent technological developments, there is some disparity in the degree of interoperability among hospitals, depending on the size and scale of these facilities. A US study shows a disparity in interoperability engagement where system-owned hospitals in major cities exhibit high interoperability rates (64%) and point-of-care information availability (71%), while small and independent hospitals lag significantly. Expect further attempts to bridge the gap in interoperability in health care over the next few years. For instance, SoftBank Group, in collaboration with a US healthcare company, Tempus AI, is launching a $188M venture to analyze personal medical data, including genetic information, with services expected to start within one to two years. Similar developments are likely to be initiated over the next couple of years and may help shift the healthcare landscape to be more connected.

🛡️ Health Insurance Rises by 27% YOY

HolonIQ's Health Insurance Index has risen 27% over the past twelve months, driven primarily by strong performances from US-based constituents. Elevance Health ($124B MCap) increased by 20% and UnitedHealth Group ($442B MCap) by 2%. The US dominates the health insurance market, generating about two-thirds of global premium income, with healthcare spending rising by 7.5% in 2023, outpacing GDP growth due to higher Medicaid and private health insurance expenditures. The insured population in the US also reached a record high of 93%. However, high medical costs, uncertainties around claims processing due to cyberattacks, and the government's decision not to increase payments for private Medicare plans in Q2 2024 have presented challenges.

In contrast, Chinese health insurance stocks underperformed, with China Life Insurance ($104B MCap) and Ping An Insurance Group ($96B MCap) declining by 18% and 13%, respectively. Rising premiums and the economic downturn have led millions to drop out of China’s state-sponsored insurance scheme, making these costs unaffordable for many. Despite these challenges, private insurers innovate and customize policies to meet market demands. Growing awareness of preventative healthcare and an aging population with increasing healthcare needs are expected to drive sustained demand in the global health insurance market.

🏆 ANZ Health Tech 100

The 2023 Australia and New Zealand Health Tech 100 is HolonIQ’s annual list of the region's most promising startups in digital health, biotech, drug discovery, and analytics.

A cohort member of 2023 health tech list, Foxo Technology, partnered with Personify Care, a patient engagement software, aiming to integrate their platforms, allowing for improved care coordination through features like pre-admission workflows and Microsoft Teams integration.  One of HolonIQ's health trends is health data interoperability, particularly where healthcare software systems blend their systems and processes together to allow for a greater degree of interoperability. 

📊 2024 Global Health Tech Outlook

HolonIQ's annual analysis of the evolving Health Tech landscape offers over 190 pages of in-depth insights on market data, investments, strategic shifts, and trends in healthcare services, pharmaceuticals, biotechnology, and medical hardware. Download the extract or purchase the full report.

💰 Health Tech Deals of the Week

HolonIQ actively monitors and tracks deals in the health industry across all regions of the world. Subscribe to our daily Impact Capital Markets newsletter to catch up on the top deals each day.

Funding

💊 Formation Bio, a US-based biotech firm, raised $372M in Series D funding, led by a16z, to expand the company's medication pipeline and continue developing its platform for AI-driven drug development.

🍏 Foodsmart, a US-based tele-nutrition platform, raised $200M in unknown funding led by The Rise Fund to broaden its commercial reach and operations.

🛡️ Sidecar Health, a US-based healthcare insurance provider, raised $165M in Series D funding led by Koch Industries to accelerate its expansion into other markets.

💊 SkyCell, a Switzerland-based designer of smart containers for storing and transporting drugs, raised $116M in Series D funding to expand globally, focusing on growth in the US and Asia.

🍫 Endogenex, a US-based clinical-stage company developing drugs for Type 2 Diabetes, raised $88M in Series C funding to expand globally, backed by Hatteras Venture Partners to complete the pivotal ReCET Clinical Study, granted an IDE by the FDA.

M&A

👵 BrightSpring Health Services, a US-based home health company, acquired Haven Hospice for $60M, a specialist care provider for people with incurable conditions and their families. 

💊 Sun Pharmaceutical, an India-based generic pharmaceutical manufacturer, acquired Taro Pharmaceutical for $347.7M, a science-based pharmaceutical company that develops, manufactures, and markets prescription and OTC products globally.

IPOs/Other Public Offerings

🧪 XtalPi, a US-based pharmaceutical technology company providing digital drug development solutions, announced that it raised $126.7M in a Hong Kong Stock Exchange IPO.

💉 Zealand Pharma, a Denmark-based biotechnology firm specializing in peptide-based medications, announced that it raised $1B in a follow-on offering.

Thank you for reading. Have a great week ahead!
Have some feedback or want to sponsor this newsletter? Let us know at hello@holoniq.com