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 Collection D-2 spherical led by Casdin Capital and Transformation Capital. LetsGetChecked closed a $150 million Collection D spherical final 12 months, constructing on raises in 2018, 2019 and 2020.
WHAT THEY DO
LetsGetChecked presents 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 check outcomes, sufferers can seek the advice of with nurses on subsequent steps.
The corporate additionally supplies 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 crucial function in enhancing worker well being. When sufferers delay or forgo really helpful or routine assessments, the implications 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 mentioned 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 ensure 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 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 in a position to leverage the ability of complete 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 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 providers.
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 employees earlier this summer season. The corporate advised the Enterprise Submit the reductions got here because of the current acquisitions.
LetsGetChecked is not alone within the dwelling diagnostics house. Opponents embody Everlywell, Cue Well being and conventional lab firm Labcorp.
