Morgan Well being invests $20M in residence diagnostics firm LetsGetChecked

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Morgan Well being, JPMorgan Chase’s healthcare enterprise unit, introduced a $20 million strategic funding in residence diagnostics startup LetsGetChecked

The funding was made as a part of a Collection D-2 spherical led by Casdin Capital and Transformation Capital. LetsGetChecked closed a $150 million Collection D spherical final yr, constructing on raises in 2018, 2019 and 2020

WHAT THEY DO

LetsGetChecked presents at-home checks, 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 check outcomes, sufferers can seek the advice of with nurses on subsequent steps. 

The corporate additionally offers a digital pharmacy for medication like erectile dysfunction drugs 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 enhancing worker well being. When sufferers delay or forgo really useful or routine checks, the implications may be vital, as we now 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 an announcement. “LetsGetChecked is designed to serve and meet workers wherever they’re, and most significantly, within the comfort and ease of their residence to guarantee that they get the care they want.”

MARKET SNAPSHOT

LetsGetChecked, an Irish unicorn based in 2015, has made a number of acquisitions up to now this yr. In March, the corporate introduced it might 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 capable of leverage the facility of entire 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 just lately accomplished the acquisition of BioIQ, an organization that works with employers and well being plans to supply lab testing, well being screening and vaccination providers.

However, like a variety of different digital well being and well being tech firms over the previous few months, LetsGetChecked laid off an undisclosed variety of employees earlier this summer season. The corporate informed the Enterprise Submit the reductions got here because of the current acquisitions. 

LetsGetChecked is not alone within the residence diagnostics area. Rivals embrace Everlywell, Cue Well being and conventional lab firm Labcorp.



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