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Irish at-home health test firm LetsGetChecked buys US company BioIQ despite deal row

By Sean Pollock Email
In January, the Sunday Independent reported that BioIQ had filed a lawsuit in the US against LetsGetChecked. It accused the Irish firm of trying to back out of a merger to “cut a better deal. Pictured, LetsGetChecked founder Peter Foley

LetsGetChecked, an Irish-founded healthcare technology company with a valuation of over $1bn (€870m), has completed its acquisition of a US-based at-home diagnostic medical test provider following a row.

Earlier this month, LetsGetChecked, which chief executive Peter Foley founded in 2015, announced it had completed the acquisition of BioIQ having first announced its intention to buy the US company last November.

In January, the Sunday Independent reported that BioIQ had filed a lawsuit in the US against LetsGetChecked. It accused the Irish firm of trying to back out of a merger to “cut a better deal”.

The court document showed that BioIQ was seeking a declaratory judgment that LetsGetChecked’s purported attempt to halt the merger was invalid and an injunction from any efforts to terminate the deal. It also sought an order directing LetsGetChecked to perform its obligation under the agreement.

According to a US court document filed in March at a court in Delaware, both LetsGetChecked and BioIQ agreed to the action being dismissed. Both parties also agreed to bear their fees, costs and expenses arising from the legal action.

In the acquisition announcement, Foley said LetsGetChecked had gained “a trusted partner with an extensive knowledge base” in serving health plans and employer markets.

“The future of healthcare is in providing high-quality at-home diagnostics and care that comprehensively serve an individual’s health needs throughout their whole life,” he said.

The completion of the BioIQ deal follows on closely from 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 co-founded in 2014 by Dr George Church, a pioneer in genomics from Harvard Medical School and Massachusetts Institute of Technology.

Neither BioIQ nor LetsGetChecked responded to a request for comment.

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