Healthcare spending graphed, the longevity space and more.

Healthcare through a Kentucky lens. Yeah, it's niche. But neat!

Author

Andrew Steen
November 18, 2025

➡️🦃 

US healthcare system’s financial flows

Crazy. Good. Check out this piece by Andrew Tsang.

An Abominable Creature

Mapping Every Dollar of America's $5 Trillion Healthcare System

healthisotherpeople.substack.com/p/an-abominable-creature

“But here's what gets buried: 22% of all Medicaid spending ($188B) is nursing homes - grandma's long-term care after she runs out of money.”

Healthcare’s Power Users

A really interesting report from Ingeborg Investments, based in Bentonville; Investing in Healthcare’s Power Users. Lots of good data, check it out.

This 👇️ page made me think of y’all, Christina Lee Brown Envirome Institute.

Longevity

Several things of note on the longevity space, starting with CB Insights’ The longevity tech market map. It includes Lexington, KY-based TruDiagnostic.

From Crunchbase.

Longevity Startup Funding Sees Fewer Moonshots, But Plenty Of Buzzy Investments

Virtually everyone would like to live a longer, healthier life. Given the ubiquity of this aspiration, it’s not surprising that longevity has a lengthy history as a popular startup investment theme. However, the space is also not immune to market dynamics. We look at what's happened in the sector this year.

news.crunchbase.com/venture/longevity-startup-funding-2025-newlimit-data/?utm_source=cb_daily&utm_medium=email&utm_campaign=20251117&utm_content=intro&utm_term=content&utm_source=cb_daily&utm_medium=email&utm_campaign=20230703

Have you listened to this podcast? Brian Kennedy gave thoughts on how Louisville might play in the longevity space.

Health Distilled with Brian Kennedy

In this episode, Andy Steen talks to Brian Kennedy, Director, Centre for Healthy Longevity at the National University of Singapore.

www.liverpoollane.com/podcast/health-distilled-with-brian-kennedy

Osteoporosis treatment

“The Boston-based company is developing bone-targeted therapeutics that deliver localized treatment directly to the skeleton while minimizing systemic exposure…”

Skeletalis Raises $8M to Transform Osteoporosis Treatment for Post-Menopausal Women | Femtech Insider

For decades, osteoporosis treatment has forced patients into an impossible choice: Accept therapies with serious safety risks or live with progressive fragility. Skeletalis, which just raised $8M led by Pillar VC, believes that paradigm is about to change. The Boston-based company is developing bone-targeted therapeutics that deliver localized treatment directly to the skeleton while minimizing

femtechinsider.com/skeletalis-raises-8m-to-transform-osteoporosis-treatment-for-post-menopausal-women

Wait, wut? 🤯 

That’s what Pradama was working on—bone-targeted therapeutics. The company was incorporated in 2005 and was based in Louisville. This made it to publication.

Treatment of Methicillin-resistant Staphylococcus aureus experimental Osteomyelitis with bone-targeted Vancomycin - PubMed

With optimization of pharmacokinetic parameters to prevent toxicity, BT2-peg2-vancomycin may be useful in the treatment of MRSA osteomyelitis.

pubmed.ncbi.nlm.nih.gov/25674391

We didn’t raise $8M. Somewhere in the ballpark of $2M. Crunchbase is inaccurate on this. But I digress.

2026 Pitch Competition

“The Emerge Experience Hospital Systems and Payer Contests (the “Contests”) are sponsored by Informa Connect USA LLC (“Sponsor”) in connection with the HIMSS Global Health Conference and Exhibition, taking place from March 9-12, 2026 in Las Vegas, Nevada (the “Show”).”

Presentation submissions are due by  November 28, 2025 by 8:59 PDT/11:59 EDT. It would be cool if a Commonwealth-based startup was selected!

Emerge Experience 2026 Pitch Competition

Emerge Experience is where the people building tomorrow's healthcare solutions meet the investors writing the checks—and the executives making the buying decisions.

app.sessionboard.com/submit/2026-himss-global-health-conference-and-exhibition/61c83d86-758b-4780-bde7-1e4633257516?_gl=1nnorpm_gaMTQ3NzExMzY2Ny4xNzYyOTk1NTY1_ga_QZX0W5RKQW*czE3NjI5OTU1NjUkbzEkZzEkdDE3NjI5OTU1ODMkajQyJGwwJGgw

Community. That's what we're building.

So, please, share.