NEW YORK – Morgan Health, JPMorgan Chase’s healthcare-focused business unit, said on Thursday that it had invested $20 million in at-home testing company LetsGetChecked.
Washington, D.C.-based Morgan Health made the investment as part of a series D2 financing round led by New York-based Casdin Capital and Transformation Capital in Boston. The total amount of the series D2 was not disclosed. As part of its investment, Robin Leopold, executive VP and head of human resources at JPMorgan Chase, will join LetsGetChecked’s board.
Morgan Health CEO Dan Mendelson said in a statement that the investment was in line with the business unit’s focus on employee health. “LetsGetChecked is designed to serve and meet employees wherever they are, and most importantly, in the convenience and ease of their home to make sure that they get the care they need,” he said.
LetsGetChecked CEO Peter Foley indicated in a statement that the proceeds will continue to fund the firm’s expansion. In May, the company, which is co-headquartered in Dublin and New York, acquired BioIQ, an analytics-driven population health and diagnostics company, for an undisclosed amount. In March, it bought Veritas Genetics and Veritas Intercontinental, and announced plans to introduce pharmacogenomic and whole-genome sequencing services.
“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,” Foley said.
JPMorgan Chase created the Morgan Health business unit last year. In addition to LetsGetChecked, Morgan Health said it has made recent investments in Vera Whole Health, Embold Health, Centivo, and a research collaboration with Kaiser Permanente.