Morgan Well being invests $20M in dwelling diagnostics firm LetsGetChecked
Morgan Well being, JPMorgan Chase’s healthcare enterprise unit, introduced a $20 million strategic funding in dwelling diagnostics startup LetsGetChecked.
The funding was made as a part of a Sequence D-2 spherical led by Casdin Capital and Transformation Capital. LetsGetChecked closed a $150 million Sequence D spherical final 12 months, constructing on raises in 2018, 2019 and 2020.
WHAT THEY DO
LetsGetChecked gives at-home assessments, together with ones for sexual well being, ldl cholesterol, diabetes, fertility hormones and COVID-19. Customers can mail their samples and obtain outcomes on-line inside days. Relying on take a look at outcomes, sufferers can seek the advice of with nurses on subsequent steps.
The corporate additionally supplies a digital pharmacy for medication like erectile dysfunction medicines and contraceptives in addition to a B2B service for well being plans, employers, suppliers and the general public sector.
“Well timed entry to medical testing has a important position in bettering worker well being. When sufferers delay or forgo advisable or routine assessments, the results could be vital, as now we have seen from the uptick in most cancers diagnoses and illness development in the course of the COVID-19 pandemic,” Morgan Well being CEO Dan Mendelson stated in a press release. “LetsGetChecked is designed to serve and meet staff wherever they’re, and most significantly, within the comfort and ease of their dwelling to guarantee that they get the care they want.”
MARKET SNAPSHOT
LetsGetChecked, an Irish unicorn based in 2015, has made a number of acquisitions to date this 12 months. In March, the corporate introduced it could transfer into genomics with the buy of Veritas Genetics and Veritas Intercontinental.
“By integrating Veritas Genetics’ and Veritas Intercontinental’s genetics providing with our scalable digital care infrastructure, we’re in a position to leverage the ability of complete genome sequencing to launch a full lifecycle of customized healthcare, which has at all times been our objective,” Peter Foley, LetsGetChecked CEO and founder, wrote in an e mail to MobiHealthNews on the time.
It additionally not too long ago accomplished the acquisition of BioIQ, an organization that works with employers and well being plans to supply lab testing, well being screening and vaccination companies.
However, like a variety of different digital well being and well being tech firms over the previous few months, LetsGetChecked laid off an undisclosed number of workers earlier this summer season. The corporate instructed the Enterprise Submit the reductions got here on account of the latest acquisitions.
LetsGetChecked is not alone within the dwelling diagnostics house. Opponents embody Everlywell, Cue Well being and conventional lab firm Labcorp.