At-home diagnostics company LetsGetChecked announced it has finalized its acquisition of digital pharmacy and telehealth startup Truepill.
LetsGetChecked offers at-home tests for sexual health, diabetes, thyroid, cholesterol and COVID-19, while TruePill is an online digital pharmacy.
The acquisition expands LetsGetChecked pharmacy and technology offerings, allowing for a more extended period of coverage, from health testing to treatment, for the company's patients and for Truepill patients to access LetsGetChecked health tests and digital care services.
Truepill will operate as a subsidiary of LetsGetChecked.
"We are excited to join forces with LetsGetChecked to bring our digital pharmacy capabilities to a broader audience," Paul Greenall, CEO of Truepill, said in a statement.
"By integrating our pharmacy platform with the comprehensive health solutions offered by LetsGetChecked, we are providing our customers and patients with a first-in-kind, complete healthcare experience that offers continuity from screening through treatment. Together, we can help more life sciences, health plan, employer, and provider customers deliver the highest quality care and experience for patients.”
THE LARGER TREND
In 2022, LetsGetChecked secured a $20 million strategic investment. It also moved into the genomics space with the acquisition of Veritas Genetics and Veritas Intercontinental and purchased BioIQ, a company that works with employers and health plans to offer lab testing, health screening and vaccination services.
The New York-based company completed a Series D funding round worth $150 million a year before. The raise followed past funding rounds in 2018, 2019 and 2020.
Earlier this year, Truepill partnered with healthcare technology prescription specialist firm ScriptDrop to combine ScriptDrop's same-day prescription delivery service with Truepill's platform, allowing patients to choose their retail pharmacy for medication delivery via ScriptDrop's two-hour service.
In 2022, the Drug Enforcement Administration (DEA) slapped Truepill with an Order to Show Cause for unlawfully dispensing thousands of prescription stimulants used to treat ADHD, including Adderall.
The DEA alleged the California-based online pharmacy filled more than 72,000 controlled substance prescriptions between September 2020 and September 2022, of which 60% were for stimulants, including generic forms of Adderall.
The agency also claimed Truepill dispensed controlled substances for prescriptions that were not issued for legitimate medical purposes, filled prescriptions written by prescribers who did not possess a proper state license, and unlawfully exceeded the 90-day supply limits.
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