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Morgan Well being, JPMorgan Chase’s healthcare enterprise unit, introduced a $20 million strategic funding in house 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 Series D round final 12 months, 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 essential position in enhancing worker well being. When sufferers delay or forgo beneficial or routine checks, the implications might be vital, as we have now seen from the uptick in most cancers diagnoses and illness development throughout 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 house to make it possible for they get the care they want.”
MARKET SNAPSHOT
LetsGetChecked, an Irish unicorn based in 2015, has made a number of acquisitions to this point this 12 months. In March, the corporate introduced it might transfer into genomics with the purchase 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 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 lately completed 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 number of other digital health and health tech companies over the previous few months, LetsGetChecked laid off an undisclosed number of workers earlier this summer time. The corporate informed the Enterprise Put up the reductions got here because of the current acquisitions.
LetsGetChecked is not alone within the house diagnostics area. Opponents embrace Everlywell, Cue Health and conventional lab firm Labcorp.
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