Add Morgan Health to the mix. This JPMorgan business unit aiming to innovate within employer-sponsored health plans announced Thursday a $20 million strategic investment in LetsGetChecked, an at-home health startup.
LetsGetChecked, founded in 2015 and co-headquartered in Dublin and New York, offers a variety of at-home test kits, including for sexual health, wellness, men’s health and women’s health. In addition to diagnostics, it provides virtual consultations and delivers prescription medications 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, its website shows.
With the funding, the company will be able to further expand its platform and reach more business clients, according to a news release. Morgan Health’s 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 health care is delivered and reduce barriers to access for those most in need,” Peter Foley, founder and CEO of LetsGetChecked, said in a statement. “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.”
Morgan Health made the investment in an effort to meet the rising demand for at-home care, wrote Clare Krusing, executive director of external communications at Morgan Health, in an email, adding that the unit has a pipeline of more than 300 healthcare companies it evaluates investing in. Krusing did not say which other companies were considered.
“In this case, the growing demand for at-home care, particularly related to diagnostics and lab testing, 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, particularly those with chronic conditions,” Krusing said.
LetsGetChecked did not name any competitors, but other at-home testing companies include Everlywell, Cue, and Viome Life Sciences. A spokesperson for LetsGetChecked claimed 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.”
The funding to LetsGetChecked is the latest in a series of investments Morgan Health has made. It recently invested in the self-funded employer health plan Centivo, primary care company Vera Whole Health, healthcare analytics company Embold Health and healthcare navigation company Castlight Health. It also entered into a research collaboration with Kaiser Permanente about health disparities.
Krusing said Morgan Health looks for companies that “share our vision and mission to improve the quality, equity and affordability of employer-sponsored healthcare.” In the future, Morgan Health will be making investments in organizations focused on mental health, virtual primary care and other specialty areas, she added.
Photo: StockFinland, Getty Images