In the full-court struggle for a slice of the at-home healthcare market, self-testing is one area of expanding interest since it is less expensive and time-consuming than using expensive laboratories.
The most recent proof that the trend is here to stay comes from Morgan Health, a division of JPMorgan Chase & Co., which invested $20 million in the LetsGetChecked medical testing platform.
In a press statement, Morgan Health declared its support for the platform that provides medical-grade testing and screening kits for conditions ranging from cancer to thyroid function and more, as well as virtual treatment and e-prescribing for at-home use.
“Timely access to clinical testing plays a crucial role in enhancing employee health,” said Dan Mendelson, CEO of Morgan 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.”
The collaboration known as Haven Healthcare, which was launched by Amazon, Berkshire Hathaway, and JPMorgan Chase with the aim of promoting affordability in employer-sponsored health insurance, will be dissolved, and Morgan Health will be established in the second quarter of 2021.
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.
