Image: © Lewis Tse Pui Lung/Stock.adobe.com
The investment is part of a Series D2 funding round to support the Irish company’s expansion as it serves Fortune 500 organisations, health plans, provider groups and the public sector.
Morgan Health, a business unit of JPMorgan Chase, has invested €20m into Irish health testing start-up LetsGetChecked.
The investment was made as part of a Series D2 funding round led by Casdin Capital and Transformation Capital.
The fresh funding will support the continued expansion of the Irish unicorn as it serves Fortune 500 organisations, health plans, provider groups and the public sector. The total funding amount from the round has not been disclosed.
As part of the strategic investment, JPMorgan Chase executive VP and head of HR, Robin Leopold, will join LetsGetChecked’s board of directors.
“Our partnership with Morgan Health will support the growth of LetsGetChecked’s 360-degree platform to transform the way healthcare is delivered and reduce barriers to access for those most in need,” said LetsGetChecked CEO and founder Peter Foley.
Founded in 2015, LetsGetChecked builds and delivers at-home testing kits including hormone tests, fertility tests, HPV tests and wellness tests for cholesterol and diabetes.
During the pandemic, LetsGetChecked was quick to pivot to providing Covid-19 testing kits. It also reached unicorn status last year following a $150m funding round.
Now co-headquartered in Dublin and New York, the company has delivered more than 10m tests to date and partnered with more than 300 business clients across the EU, UK and US.
Its end-to-end business model covers manufacturing, logistics, lab analysis as well as physician support and prescription fulfilment.
“Our scalable infrastructure and API tool set allows employers, health plans, providers and the public sector to seamlessly enable diagnostic testing and virtual care with our fully integrated supply chain, which includes manufacturing all the way to sample processing in our state-of-the-art laboratory, as well as virtual consultations and medication delivery,” Foley said.
In March, LetsGetChecked expanded its at-home testing services to include genome sequencing, through the acquisition of Veritas Genetics and Veritas Intercontinental. It also recently acquired BioIQ, an analytics-driven population health and diagnostics company.
Morgan Health was launched last year by JPMorgan Chase to accelerate new approaches of medical care delivery in the US. It has deployed $105m to date, with a goal to invest a total of $250m in promising healthcare companies.
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