LetsGetChecked, an Irish-founded healthcare technology company valued at over $1bn (€870m), has completed the acquisition of US-based at-home diagnostic medical test provider, after a row.
Earlier this month, LetsGetChecked, which was founded in 2015 by chief executive Peter Foley, announced it had completed its acquisition of BioIQ and first announced its intention to buy the US company last November.
In January, sunday free reported that BioIQ had filed a lawsuit against LetsGetChecked in the US. It accused the Irish firm of trying to back away from the merger in order to “cut a better deal”.
The court document revealed that BioIQ was seeking a declaratory ruling that the alleged attempt to block the merger of LetsGetChecked was invalid and an injunction from any attempt to terminate the deal. It also sought an order directing LetsGetChecked to perform its obligations under the agreement.
According to a US court document filed in March in a Delaware court, both LetsGetChecked and BioIQ agreed to dismiss the action. Both parties also agreed to bear their own fees, costs and expenses arising out of the legal action.
In announcing the acquisition, Foley said LetsGetChecked had acquired “a trusted partner with an extensive knowledge base” in servicing the health plans and employer markets.
“The future of healthcare lies in providing high quality at-home diagnosis and care that comprehensively meets a person’s health needs throughout their life,” he said.
The completion of the BioIQ deal comes close to an announcement that LetsGetCecked is to acquire US-headquartered genome sequencing company Veritas Genetics. It is also set to acquire Veritas Intercontinental.
Veritas Genetics was founded in 2014 by Dr. George Church, a pioneer in genomics from Harvard Medical School and the Massachusetts Institute of Technology.
Neither BioIQ nor LetsGetChecked responded to a request for comment.
