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LetsGetChecked to Acquire Veritas Genetics, Veritas Intercontinental

NEW YORK — Irish-American healthcare company LetsGetChecked announced on Tuesday it is acquiring Veritas Genetics and Veritas Intercontinental to add whole-genome sequencing to its at-home diagnostics offering.

The company, which is headquartered in Dublin and New York, did not disclose the terms of the deal, which is expected to close in the first quarter. In a statement, LetsGetChecked CEO Peter Foley said that the firm pursued the acquisitions to add Veritas' next-generation sequencing-based services to its offering.

"LetsGetChecked will leverage the power of whole-genome sequencing to launch a full lifecycle of personalized healthcare," Foley said. The company intends to integrate Veritas Genetics and Veritas Intercontinental's sequencing capabilities and tests with LetsGetChecked's diagnostic and virtual care infrastructure, he said, a combination that will provide "comprehensive genetic insights into practical recommendations and lifestyle changes, guided by clinical experts."

Veritas Genetics was founded by George Church, a professor of genetics at Harvard Medical School, and launched in 2014, delivering sequencing-based services via a CLIA-compliant laboratory in Danvers, Massachusetts. Among its offerings is a service called myGenome, which provides customers with their whole-genome data and clinical interpretation by the firm's scientists.

In 2018, Veritas established Veritas Intercontinental to offer its services outside the US. The latter provides whole-genome and exome-sequencing-based tests in over 30 countries. Last year, Veritas Intercontinental introduced myPrenatalWES, a prenatal test for pregnancies with a high risk of genetic alterations.

Things haven't always rolled smoothly though. In 2019, Veritas Genetics suspended its US operations and laid off about 30 employees, citing financial difficulties. The company's US office later secured additional funding and reopened.

Like Veritas, LetsGetChecked was founded in 2014. The firm currently employs 350 people across sites in Ireland and the US and offers a menu of at-home tests for everything ranging from SARS-CoV-2 to sexually transmitted diseases. LetsGetChecked raised $150 million last year and pledged at the time to invest in its customer-facing services, such as asynchronous video chats, as well as pharmacy services, including the purchase of a pharmacy in Florida.

In its statement, the firm noted the acquisitions of Veritas Genetics and Veritas Intercontinental would give the firm access to whole-genome sequencing as well as Veritas' targeted panels for pharmacogenomics, cancer screening, carrier screening, and maternal-fetal testing.