Self-testing is one area of rising interest in the full-court battle for a slice of the at-home healthcare industry because of the time and money savings it offers over expensive laboratories.
Morgan Health, a division of JPMorgan Chase & Co., invested $20 million in the LetsGetChecked medical testing platform as the most recent indication that the trend has legs.
Morgan Health announced its support for the platform that offers virtual care and e-prescribing for at-home usage, as well as medical-grade testing and screening kits for illnesses ranging from cancer to thyroid function and more, in a news release.
The CEO of Morgan Health, Dan Mendelson, stated that “timely access to clinical testing plays a crucial role in enhancing employee health.” “Patients who postpone or refuse suggested or regular testing may suffer serious repercussions, as we have observed from the rise in cancer diagnoses and the acceleration of the illness during the Covid-19 epidemic.”
Morgan Health will be established in the second quarter of 2021 following the dissolution of the partnership known as Haven Healthcare, which was founded by Amazon, Berkshire Hathaway, and JPMorgan Chase with the goal of advancing affordability in employer-sponsored health insurance.
Prior to its investment in LetsGetChecked, Morgan Health invested $50 million in Vera Whole Health, an employer-sponsored coordinated care provider, as well as in the Castlight healthcare navigation software and Embold Health, a provider of physician quality monitoring.
In a period of industry transformation where more innovators are focusing on the system’s pervasive time and cost inefficiencies in response to the pandemic, Morgan Health is boosting its investments in employer-sponsored and at-home health solutions.
On September 5, CVS Health outbid Amazon, UnitedHealth, and other parties to purchase Signify Health for $8 billion, giving the pharmacy network a foothold in the quickly expanding at-home healthcare market.
“This purchase will expand our relationship to customers in the home and enables clinicians to better meet patient needs as we execute our ambition to revolutionize the health care experience,” said Karen S. Lynch, CEO of CVS Health.
