Charme Capital Partners and Amadeus Capital Partners agree the sale of Veritas Intercontinental to LetsGetChecked March 29, 2022 by elizarios Leave a Comment Charme Capital Partners (“Charme”), the pan-European mid-market private equity firm, and Amadeus Capital Partners (“Amadeus”), the global technology investor, have announced today that they have reached an agreement to sell 100% of Veritas Intercontinental to LetsGetChecked, a global healthcare solutions company based in Dublin and New-York that provides the tools to manage health from home through direct access to diagnostic testing, virtual care, and medication delivery for a wide range of health and wellness conditions. Veritas Intercontinental was founded in 2018 as a spin-off from Veritas Genetics and has led the activity and development of the Veritas brand outside of the United States, offering a wide range of genomic services. As part of the transaction, Veritas Intercontinental’s (Veritas Int.) shareholders and senior management will reinvest in the company to continue to support its long-term growth and success as part of LetsGetChecked. Veritas Int. founded in 2018 by Javier de Echevarría, (CEO), Dr. Luis Izquierdo (Chief Medical Officer) and Dr. Vincenzo Cirigliano (Chief Technical Officer) is headquartered in Madrid, Spain. The company utilises the most advanced automated interpretation technology to provide risk assessment and preventive care through whole genome sequencing for healthy individuals. Veritas Int. completes its portfolio with a wide range of maternal-fetal screening tests, exome-based panels (such as cancer and cardiovascular risk and newborn screening) and diagnostics testing. Veritas Int. has become a partner to some of the leading hospitals around the world to foster access to the most advanced preventive testing tools available. Today, Veritas Int. helps patients across the globe from its next generation laboratory in Barcelona, Spain and with offices in 4 countries across Europe and Latin America supporting clients in over 30 countries. In 2021 Veritas Int. achieved an impressive revenue growth of 110% and has reported more than 50,000 results since 2018. The company reached the important milestone of being EBITDA positive in November 2021 and expects to double its revenues again in 2022. The company has become a European leader in the fields of preventive genetic testing and prenatal diagnostics. Charme and Amadeus invested in a portfolio of genetics assets following its initial investment in Igenomix. This included Veritas Intercontinental, which was founded in September 2018 as a joint venture between a group of experienced diagnostics and genetics professionals, Veritas Genetics US (which has also been acquired by LetsGetChecked) and Igenomix, with the support of investors, led by Charme. “Through these acquisitions, LetsGetChecked will leverage the power of whole genome sequencing to launch a full lifecycle of personalized healthcare, delivering the most comprehensive health testing and care solution on the market,” said Peter Foley, Founder and CEO of LetsGetChecked. “By integrating Veritas Genetics’ and Veritas Intercontinental’s capabilities with LetsGetChecked’s scalable diagnostic and virtual care infrastructure, we are able to turn comprehensive genetic insights into practical recommendations and lifestyle changes, guided by clinical experts.” Javier de Echevarria, CEO and co-Founder of Veritas Intercontinental, said: “Charme and Amadeus’ resources, industry experience and strategic vision have been a differentiating factor during the company’s period of high growth over the past four years. We would like to thank their teams for all of their support, and we look forward to continuing our collaboration as Veritas Int. enters the next phase of our journey. We are very excited to join LetsGetChecked and thrilled with all the possibilities this will provide to our customers and patients around the globe.” About LetsGetChecked LetsGetChecked is a global healthcare solutions company that provides the tools to manage health from home through direct access to diagnostic testing, virtual care, and medication delivery for a wide range of health and wellness conditions. LetsGetChecked’s end-to-end model includes manufacturing, logistics, lab analysis, physician support, and prescription fulfillment. The company empowers people with accessible health information and care to live longer, happier lives. To date, LetsGetChecked has delivered nearly three million tests and served more than 300 corporate customers with testing services and biometric screening solutions since it was founded in 2015. LetsGetChecked is available nationwide in the United States, the United Kingdom, and most EU countries. It is co-headquartered in Dublin and New York. About Charme Capital Charme Capital Partners is based in London, Milan and Madrid, and is the manager of the Charme Funds. The firm was founded in 2003 and is backed by a unique combination of institutional LPs and prominent global industrialists. Since inception, the Charme Funds have raised over €1.8bn and invested with a pan-European approach in companies with strong growth and internationalization prospects. Charme IV was launched in 2021 and has raised over €700m to date, with a final close targeted at a greater amount. It is a continuation of Charme III’s successful investment strategy focused on mid-market opportunities across a range of sectors in Europe, with a particular focus on the UK, Spain and Italy. The fund will target fast growing companies with an enterprise value of €100m to €500m, where it can partner with shareholders and management teams to unlock potential and deliver transformational growth, both organically and through M&A. The fund will leverage Charme’s entrepreneurial culture, local teams across Europe and international base of loyal LPs to help businesses to expand, often internationally. Previous investments made by the Charme Funds include in luxury goods Poltrona Frau Group (global leader in high-end design furniture) in healthcare technology Bellco (leading provider of blood purification devices) and healthcare services Igenomix (global provider of reproductive genetic services). About Amadeus Capital Partners Amadeus Capital Partners is a global technology investor. Since 1997, the firm has raised over $1bn for investment and used it to back more than 180 companies. With vast experience and a great network, Amadeus’ team of investors and entrepreneurs share a passion for the transformative power of technology. Pioneering businesses we’ve backed include eye tracking leader Tobii (TOBII.ST); sequencing company Oxford Nanopore Technologies (LON: ONT); cyber security vendor ForeScout (NASDAQ:FSCT); Graphcore, innovators in intelligent microprocessors; IVF genetic testing company, Igenomix; the first single-chip Bluetooth solution, CSR (acquired by Qualcomm) and speech recognition company VocalIQ (acquired by Apple). Veritas Intercontinental Veritas Intercontinental was founded in 2018 by Javier de Echevarría, (CEO), Dr. Luis Izquierdo (Chief Medical Officer) and Dr. Vincenzo Cirigliano (Chief Technical Officer), to lead the international expansion of the Veritas’ brand and genetic services portfolio. Veritas Intercontinental offers whole genome and exome sequencing based analyses and genetic services for maternal-fetal medicine through large hospitals, specialized clinics and medical distributors in over 30 countries. Headquartered in Madrid, the company has an advanced sequencing lab in Barcelona, from where it has become a European leader in the fields of preventive genetic testing and prenatal diagnostics.