Morgan Health invests $20 million to expand access to home health care
It seeks to streamline processes of early diagnosis, disease prevention and care.
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Morgan Health, the business unit of JPMorgan Chase focused on improving employer-sponsored health care, recently announced a $20 million investment in LetsGetChecked, a global health care solutions company that provides clinical tools to manage the health of patients from home in a practical and simple way.
Seeking to increase access to convenient and affordable home health care services, LetsGetChecked, which offers a comprehensive solution to patients with access to more than 100 laboratory panels and personalized treatment plans, provides, among other services, direct access to tests of diagnosis, genetic information, virtual consultations, and delivery of medicines.
“Timely access to clinical trials plays a critical role in improving employee health. When patients delay or do not undergo recommended or routine tests, the consequences can be very important, as was seen in the rebound in cancer diagnoses and in the progression of the disease during the COVID-19 pandemic,” said Dan Mendelson, CEO of Morgan Health.
Quality Medical Service
Through the LetsGetChecked platform, employees who receive medical care with less than the required characteristics, due to economic or logistical obstacles, can easily and timely access the necessary services to carry out recommended and routine tests. Both medical practices and virtual care providers can incorporate LetsGetChecked services directly into their workflows to meet the increased demand for in-home care.
In addition, the platform provides employers and healthcare providers with clinical data to efficiently address population-based health initiatives designed to address the prevalence of common medical conditions such as diabetes, high cholesterol, and other chronic diseases.
LetsGetChecked has been designed to serve and reach employees wherever they are, and more importantly, from the comfort and simplicity of their homes to ensure they receive the care they need.
Thanks to a successful round of the D-2 series, led by Casdin Capital and Transformation Capital (LTP Equity), LetsGetChecked will be able to continue its permanent expansion process and serve Fortune 500 organizations, health plans, supplier groups, and the public sector.
“Partnering with Morgan Health will allow us to support the growth of the 360º platform, transforming the way health care is delivered and reducing barriers to access for those who need it most. Our scalable infrastructure and API toolset enables employers, health plans, providers, and the public sector to seamlessly enable diagnostic testing and virtual care through our fully integrated supply chain, including from manufacturing to sample processing in our state-of-the-art laboratory, as well as virtual consultations and medication delivery,” said Peter Foley, founder and CEO of LetsGetChecked.
Support for Medical Entities
Morgan Health's investment builds on its recent financial moves in Vera Whole Health and subsequent investments in Castlight Health, Embold Health, Centivo, as well as a research collaboration with Kaiser Permanente.
These alliances allow the financial firm to continue in its process of promoting a greater responsibility of the U.S. health system, and aspires to expand such offers for the employees of JPMC and the more than 150 million Americans who have health insurance, employer-sponsored health care.
Founded in 2015, LetsGetChecked has delivered more than 10 million tests and has partnered with more than 300 business clients in the United States, the United Kingdom, and the European Union. Recently, LetsGetChecked acquired BioIQ, as well as Veritas Genetics and Veritas Intercontinental, expanding the company's services to include whole genome sequencing as well as laboratory-specific panels such as Pharmacogenomics (PGx). Building on these new offerings, LetsGetChecked has the ability to support the full lifecycle of women's and men's health care, sexual health, and general health and wellness.