Veritas Genetics Inc. and Veritas Intercontinental are being acquired by Irish-American healthcare firm LetsGetChecked. These acquisitions give LetsGetChecked access to whole genome sequencing as well as targeted panels and tests such as Pharmacogenomics (PGx), cancer screening, carrier screening, and maternal-fetal testing.
LetsGetChecked aims to use these new capabilities, along with its existing diagnostic testing and virtual care model, to enable consumers, employers, health plans, and other healthcare partners to use genetic information to guide personalized care, testing, and prevention.
“Through these acquisitions, LetsGetChecked will leverage the power of whole genome sequencing to launch a full lifecycle of personalized healthcare, delivering the most comprehensive health testing and care solution on the market,” said Peter Foley, Founder and CEO of LetsGetChecked.
He added that, “By integrating Veritas Genetics’ and Veritas Intercontinental’s capabilities with LetsGetChecked’s scalable diagnostic and virtual care infrastructure, we are able to turn comprehensive genetic insights into practical recommendations and lifestyle changes, guided by clinical experts.”
Danvers, Massachusetts-based Veritas Genetics was co-founded in 2014 by George Church, renowned pioneer in genomics from Harvard Medical School and MIT. The company provides whole genome sequencing to individuals. In 2016, Veritas broke the $1,000 whole genome sequencing price barrier. In 2019, they dropped the price further, from $999 to $599.
But the company has faced financial difficulties. In 2019 Veritas Genetics halted operations, laid off about 30 employees, and looked for buyers. It later reopened with additional funding.
“We are excited to be a part of LetsGetChecked, a leader in at-home and virtual care,” said Mirza Cifric, CEO of Veritas Genetics. “The introduction of genetics into LetsGetChecked’s vertically integrated, end-to-end platform will bring forth a very powerful and differentiated offering to the market.”
Let’sGetChecked provides home health tools such as direct access to diagnostic testing, virtual care, and medication delivery for a wide range of health and wellness conditions. The company’s end-to-end model includes manufacturing, logistics, lab analysis, physician support, and prescription fulfillment.
To date, LetsGetChecked reports that it has delivered nearly three million tests and served more than 300 corporate customers with testing services and biometric screening solutions since it was founded in 2015. The company’s services are available across the US, the UK, and most EU countries. It is co-headquartered in Dublin and New York.
Veritas Intercontinental was founded in 2018 as a spin-off from Veritas Genetics and has led the activity and development of Veritas outside of the United States, offering a wide range of genomic services. The company reports that it provides whole-genome and exome-sequencing-based tests in over 30 countries.
“With this acquisition, LetsGetChecked and Veritas Intercontinental will partner to provide support and technological expertise to expand internationally through a full genetic and healthcare services portfolio, ranging from prenatal screening to predictive medicine,” commented Javier de Echevarría, CEO and Co-Founder of Veritas Intercontinental. “With LetsGetChecked, we are able to expedite our mission to advance the clinical utilization of genomics in healthcare.”
“Our mission to deliver the benefits of whole genome sequencing to millions of individuals continues as part of the LetsGetChecked family. I am particularly excited about the opportunity to combine genetic testing with the broad spectrum of virtual and at-home care models offered by LetsGetChecked. I expect these acquisitions will change the future of personalized healthcare as we know it,” said Church.
LetsGetChecked’s acquisition of Veritas Genetics and Veritas Intercontinental operations is expected to close in the first fiscal quarter of this year.
