Good morning, ! It’s Thursday and we’re diving into the rational consumer logic reshaping healthcare buying, the rise of wearables as critical care infrastructure, home health’s evolution into an investable sector, and what it takes to scale care in a decentralized future.

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DATA DIVE

Home Health, From Fringe to Foundation

The U.S. home health sector has morphed from a cost-saving supplement into a strategic cornerstone of care delivery, and the data shows no signs of slowing.

Spending surged 74.5% from $84.7B in 2014 to $147.8B in 2023, with a striking 10.8% annual jump in 2023 alone. 

Pandemic-driven care shifts accelerated this trajectory, but structural drivers, aging demographics, value-based models, and digital care platforms, are powering long-term momentum. This isn’t just healthcare inflation; it’s market realignment.

Yet growth isn’t universal. The number of U.S. home health agencies declined 10.7% over the same period, stabilizing at 11,506 since 2021. This points to rising operational complexity, regulatory hurdles, and an emerging scale premium.

Meanwhile, the labor force is ballooning. Home health aide jobs are expected to grow 21% by 2033, over 5x the national average, despite median wages sitting 29% below the U.S. norm. 

Bottom line: Home health is no longer niche. It's scaling, professionalizing, and becoming investable in a way that rewards operational rigor, digital fluency, and payer versatility. (Read or Listen to the Full Report)

TREND OF THE WEEK

Healthcare Buying Is Price-Driven, Not Influencer-Driven

When it comes to health product purchases, price still trumps all. According to eMarketer, 45% of US consumers cited better price as their primary reason for a recent health-related purchase, far outpacing digital influencers, ads, or even product quality.

Only 7% of respondents were swayed by celebrity or influencer endorsements, and 6% by content creators, underscoring the limited ROI of lifestyle-led health marketing. In contrast, 31% leaned on positive online reviews, and 25% trusted family recommendations, reinforcing a buyer profile that prioritizes social proof and direct value.

Why it matters: For healthcare marketers and investors, the takeaway is clear, consumer health decisions remain highly rational. Competitive pricing, credible reviews, and product efficacy win out over flashy campaigns. Influencer partnerships may generate buzz, but they aren't converting buyers in this sector.

Bottom line: If you're not competing on price, quality, or trust, you're not competing at all. (More)

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Top investors are buying this “unlisted” stock

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MARKET MOVERS

HEALTHTECH CORNER

The new frontier in healthcare and business

Wearables are no longer a niche— they’re the new stethoscope. With the market set to top $160B by 2030, smartwatches and fitness rings are doing what annual checkups can’t: delivering real-time vitals 24/7. A staggering 86% of U.S. wearable users now prefer physicians who incorporate device data into care. That’s not just a stat—it’s a business strategy. As AI-enhanced sensors scale and telehealth platforms sync seamlessly, this isn't gadgetry; it's infrastructure. With sports wearables also surging, the space is courting capital from tech giants and PE alike. Expect Apple Watch Series 9 to be the first of many ecosystem plays—and a lot more competition for who owns your wrist. (More)

DEAL OF THE WEEK

UPS Makes a $1.6B Cold Chain Power Play

UPS is doubling down on complex healthcare logistics with its planned $1.6 billion acquisition of Andlauer Healthcare Group (AHG), a Canadian firm specializing in temperature-controlled supply chain solutions. The deal is set to close in the second half of 2025, pending regulatory approvals.

This marks UPS’s third major healthcare logistics acquisition since 2022, following Bomi in Europe and MNX Global Logistics in time-critical services. AHG brings specialized cold chain infrastructure and a robust Canadian footprint, directly enhancing UPS’s end-to-end cold chain offerings for biopharma, medtech, and vaccine clients.

UPS Healthcare already generates $10 billion in annual revenue, and CEO Kate Gutmann calls this move another step toward becoming the “No. 1 complex healthcare logistics provider” globally.

Why it matters: As pharma and medtech supply chains become increasingly temperature-sensitive and compliance-driven, logistics providers with scale and specialization stand to capture premium margins. This deal adds a defensible moat to UPS’s healthcare segment, and flags consolidation momentum for investors tracking healthcare-adjacent infrastructure. (More)

REGIONAL FOCUS

California's Healthcare Wallet: $711B and Counting

California isn't just America's tech and avocado capital—it’s also healthcare's financial HQ, posting a jaw-dropping $711.4 billion in gross patient revenue. Texas ($535.7B) and Florida ($532.3B) trail behind, but still make up part of a three-state oligarchy that dominates hospital dollars. The rest of the top five—New York ($369.7B) and Pennsylvania ($287.1B)—serve as a reminder that large urban centers and dense populations keep revenue rolling. This regional concentration is less about fiscal bragging rights and more a window into where healthcare infrastructure must scale (or implode) next. Health insurance, naturally, is knee-deep in these high-cost ecosystems—pricing risk where the hospital meters never stop running.

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