Irish-founded healthcare company LetsGetChecked is to acquire BioIQ for an undisclosed sum, expanding access to its virtual care services to more people in the US.
Under the deal, which is expected to close in the fourth quarter of the year, BioIQ will operate as a wholly-owned subsidiary of LetsGetChecked. It must receive regulatory approval.
BioIQ is a US-based analytics-driven population health and testing platform. If approved the deal will give BioIQ’s consumers, health plan, and employer customers access to LetsGetChecked’s virtual care experience, with an end-to-end model that includes manufacturing, logistics, lab analysis, affiliated physician support and prescription fulfilment.
"We are excited to integrate with BioIQ to expand access to our virtual care services to more people across the United States, " said Peter Foley, founder and chief executive of LetsGetChecked.
“Through this acquisition LetsGetChecked will introduce its end-to-end, vertically-integrated solution to BioIQ’s existing network of health plans, employers, and consumers to meaningfully enhance their health through our platform.”
The acquisition will see LetsGetChecked benefit from an extensive knowledge base and an increased breadth of experience, allowing it to accelerate growth in the health plan and employer markets.
"Coming together with LetsGetChecked offers us the unique opportunity to join one of the leading end-to-end, vertically-integrated healthcare solutions companies," said Justin Bellante, CEO of BioIQ. "Our health plan and enterprise customers will benefit immensely from access to LetsGetChecked's +100 validated at-home tests, as well as follow-up care through its telehealth and pharmacy offering that is suited to their individual needs."
LetsGetChecked was founded by Mr Foley in 2015, and has seen its business grow significantly during the pandemic. The company, which has offices in Dublin and New York, has delivered more than two million tests for a wide range of health conditions.
Earlier this year the company raised $150 million in a Series D funding round that pushed LetsGetChecked to a $1 billion valuation, making it the latest tech company to achieve unicorn status.