Add Morgan Health to the mix. This JPMorgan business unit aims to innovate within employer-sponsored health plans announced Thursday a $20 million strategic investment in LetsGetChecked, a home health startup.
LetsGetChecked, founded in 2015 and jointly headquartered in Dublin and New York, offers a variety of home testing kits including sexual health, wellness, men’s health and women’s health. In addition to diagnostics, it provides virtual consultations and delivers prescription drugs to people’s homes. Physician practices and virtual care providers can also integrate the company’s services into their workflows.
The startup works with over 300 employers, health plans, providers and other organizations to deliver its solutions and provide clinical insights. LetsGetChecked’s clients include Amazon and Humana website shows.
With the funding, the company will be able to further expand its platform and reach more business customers, according to a news release. Morgan HealthThe investment is in addition to a D-2 funding round led by Casdin Capital and Transformation Capital, but LetsGetChecked declined to provide additional information.
“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,” Peter Foley, founder and chief executive, said in a statement CEO of LetsGetChecked. “Our scalable infrastructure and API toolset enables 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 through sample processing in our state-of-the-art laboratory , as well as virtual consultations and drug delivery.”
Morgan Health made the investment in an effort to meet the growing demand for home care, Claire Crusing, executive director of external communications at Morgan Health, wrote in an email. It has a pipeline of more than 300 health care companies it is considering investing in, Crusing added, but did not say which other companies it is looking at.
“In this case, the growing demand for home care, especially related to diagnostics and laboratory tests, was a key focus and LetsGetChecked’s platform went even further to offer an integrated virtual primary care and pharmacy solution that would be ideal for patients , especially those with chronic conditions,” Crusing said.
LetsGetChecked did not list any competitors, but other home testing companies include Everlywell, A stick, and Viome Life Sciences. A spokesperson for LetsGetChecked claims that the startup is “unique in that the company offers a complete end-to-end solution for patients with access to more than 100 laboratory panels, virtual consultations and medication delivery for a wide range of health and wellness conditions.”
LetsGetChecked’s funding is the latest in a series of investments made by Morgan Health. Recently invested in a self-funded employer health plan Sentivoa primary care company Vera Overall healthhealthcare analytics company Embold Health and healthcare navigation company Castlight health. He also entered into a research collaboration with Kaiser Permanente on health disparities.
Krusing said Morgan Health is looking for companies that “share our vision and mission to improve the quality, equity and affordability of employer-sponsored health care.” In the future, Morgan Health will invest in organizations focused on mental health, virtual primary care and other specialty areas, she added.
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