Dublin STI-testing start-up signs deals to enter US and launches fundraising round for up to €2.5m
Published 15/05/2016 | 02:30
Dublin-based medical start-up Let's Get Checked has agreed a deal with US laboratory giant Quest Diagnostics to facilitate its launch in the US.
The company offers a home-testing service for sexually transmitted infections. Customers provide samples themselves or with the assistance of a pharmacist, which are then sent directly to laboratories for diagnosis by post. The customer is informed of their result by phone and provided with a same-day consultation with a doctor if needed.
The idea is to remove the middleman between labs and patients, speeding up the process and cutting costs.
Let's Get Checked's existing markets are Ireland and the UK. It has partnerships with pharmacy chains including Lloyds, Allcare and Haven.
It intends to launch in the US within the next two months.
Sales are growing at a rate of 50pc per month, chief executive Peter Foley said.
He came up with the idea for the business while completing a Masters degree in medical diagnostics.
Data he observed on how health insurers are compensated showed hospitals around the world were failing to implement sufficient early-screening programmes for cancer and other serious diseases.
"Our biggest target is busy young professionals who just don't have time to take a day off to get tested even when they know it is important," he said.
The company is also fundraising, seeking to raise up to €2.5m following two smaller fundraising exercises last year which raised close to €1m from UK and Swiss investors.
Sunday Indo Business