LetsGetChecked to Acquire BioIQ
Today, LetsGetChecked, a leading healthcare solutions company, announced its intention to acquire BioIQ, an analytics-driven population health and testing platform company. With this proposed acquisition, LetsGetChecked will expand its ability to deliver on its mission to empower people to live longer, happier lives through its telehealth services, pharmacy capabilities, and at-home diagnostics.
"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 CEO 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."
With sustained customer demand for high-quality at-home diagnostics and care, the proposed acquisition of BioIQ offers LetsGetChecked an extensive knowledge base and an increased breadth of experience to accelerate growth in the health plan and employer markets. The proposed acquisition significantly increases LetsGetChecked's footprint of consumers and partners to further drive market adoption and enable a new paradigm of testing and care.
"Coming together with LetsGetChecked offers us the unique opportunity to join one of the leading end-to-end, vertically integrated healthcare solutions companies. 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," said Justin Bellante, CEO of BioIQ.
As a result of the proposed acquisition, BioIQ's consumers, health plan, and employer customers will have access to an even wider-reching, best-in-class virtual care experience. LetsGetChecked's end-to-end model, including manufacturing, logistics, lab analysis in its CAP-Accredited, CLIA Certified laboratory in Monrovia, California, affiliated physician support, and prescription fulfillment, will benefit all of BioIQ's customers.
BioIQ will operate as a wholly-owned subsidiary of LetsGetChecked. LetsGetChecked's acquisition of BioIQ is expected to close in the fourth fiscal quarter of this year, subject to receipt of required regulatory approvals and satisfaction or waiver of other customary closing conditions.
LetsGetChecked is a leading healthcare solutions company that allows customers to manage their health from home, providing direct access to telehealth services, pharmacy, and at-home diagnostics for a wide range of health conditions including Sexual Health, Cholesterol, Diabetes, Thyroid, Coronavirus (COVID-19), and more. Founded in 2015, the company empowers people with the care they need to live longer, happier lives. Today, LetsGetChecked is a leader in healthcare innovation with an end-to-end model including manufacturing, logistics, lab analysis, affiliated physician support, and prescription fulfillment, which provides a seamless user experience and a convenient, reliable and secure healthcare experience.
LetsGetChecked is available nationwide in the United States and most EU countries. It is co-headquartered in Dublin and New York, with teammates all over the world. To learn more visit www.letsgetchecked.com.
BioIQ is modernizing the diagnostic testing industry through a national network of labs and customized solutions that support payors, employers, and consumers. By aggregating testing solutions, optimizing lab capacity, and integrating testing with customers' needs and strategies, BioIQ ensures resilience and reliability so that employers and payors can protect workforces and members. With its first-of-its-kind health connectivity platform, BioIQ is uniquely positioned at the convergence of population health and the consumerization and retailization of healthcare to drive the shift to value-based care for payers and employers. Since 2005, BioIQ has launched thousands of successful health testing programs serving millions of participants. For more information, visit www.bioiq.com.
SVB Leerink is acting as financial advisor and Goodwin Proctor LLP and Mason Hayes & Curran are acting as legal counsel to LetsGetChecked. Credit Suisse is acting as financial advisor and Cooley LLP is acting as legal counsel to BioIQ.
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