Latest Morgan Health Investments Signal the Company’s Focus
Morgan Health, JPMorgan Chase’s health care venture arm, has been busy making good on its pledge to invest $250 million in health care startups to help reshape health care. The company recently invested $20 million in LetsGetChecked, which offers at-home diagnostic and genetic testing, virtual appointments and prescription drug delivery.
Morgan Health officials say the investment, part of a $150 million Series D funding round for LetsGetChecked, will increase convenient and affordable at-home health care services. LetsGetChecked gives patients access to more than 100 laboratory panels and personalized health treatment plans. Physician practices and virtual care providers can integrate the company’s services directly into their workflows to meet an increasing demand for at-home services.
The platform also is designed to play a key role in helping underserved employees and individuals who often face financial or logistical barriers to routine and recommended testing. In addition, it provides employers and providers with clinical insights to inform population-based initiatives designed to address the prevalence of common chronic diseases like diabetes.
In the past 18 months, Morgan Health has invested more than $100 million in health care startups, including Centivo ($30 million), a health plan for self-funded employers; the primary care company Vera Whole Health ($50 million); and Embold Health ($5 million), a health care navigation company.
Dan Mendelson, Morgan Health CEO, says the company’s future investments increasingly will be focused on areas where care delivery can be improved or costs can be reduced.