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 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 affords at-home exams, 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 gives a digital pharmacy for medicine 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 scientific testing has a vital function in enhancing worker well being. When sufferers delay or forgo beneficial or routine exams, the results may be vital, as we’ve seen from the uptick in most cancers diagnoses and illness development through the COVID-19 pandemic,” Morgan Well being CEO Dan Mendelson stated in a press release. “LetsGetChecked is designed to serve and meet workers wherever they’re, and most significantly, within the comfort and ease of their residence to be sure 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 12 months. 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 ability of entire genome sequencing to launch a full lifecycle of personalised healthcare, which has all the time been our aim,” Peter Foley, LetsGetChecked CEO and founder, wrote in an e-mail to MobiHealthNews on the time.
It additionally 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 companies.
However, like a variety of different digital well being and well being tech corporations over the previous few months, LetsGetChecked laid off an undisclosed variety of staff earlier this summer season. The corporate informed the Enterprise Put up the reductions got here on account of the current acquisitions.
LetsGetChecked is not alone within the residence diagnostics area. Rivals embrace Everlywell, Cue Well being and conventional lab firm Labcorp.
