Health Care

Theranos bleeds dry, company to dissolve

Theranos bleeds dry, company to dissolve”

As NPR's James Doubek reported in March, Holmes has already settled civil charges brought by the Securities and Exchange Commission, agreeing to pay a $500,000 penalty and to refrain from serving as a director or officer of a publicly traded company for 10 years.

"Unfortunately, none of those leads has materialized into a transaction".

The unraveling of Theranos came after reports alleged it was not using its own technology in numerous blood tests it performed.

That was until a 2015 Wall Street Journal story, when the first cracks in the story started to appear. All told, investors in Theranos have lost almost $1 billion.

Theranos acting chief and general counsel David Taylor emailed investors to explain that the company has to shut its doors because of a deal with Fortress Investment Group. By 2014, she had raised $700 million from venture capitalists and private investors - including current U.S. secretary of education Betsy DeVos, the family of Walmart founder Sam Walton, Rupert Murdoch, and Mexican billionaire Carlos Slim.

It was briefly one of the most celebrated companies in Silicon Valley - but Theranos, a company valued at $9bn (£7bn) at its peak, will soon be no more.

Ms Holmes sold that vision to a roster of well known investors, including Walgreens, the drugstore group, media mogul Rupert Murdoch, and Oracle co-founder Larry Ellison.

Elizabeth Holmes suckered in former US President Barack Obama, his Vice President Joe Biden and other top Democrats and Republicans.

Theranos attracted more than $700m worth of backing from a glittering line-up of investors and recruited some of America's most powerful statesmen, including former secretaries of state Henry Kissinger and George Shultz and the current defence secretary James Mattis, to its board.

On a recent podcast he spoke of how she was able to seduce powerful men to keep the charade going.

"She wowed them. I don't necessarily think that it was a sexual thing by any means ..."

Perhaps the most incredible thing about her downfall, is her denial of it.

An experience that marked her childhood and that would change her life forever, was when an uncle who she loved very much was diagnosed with skin cancer.

The news comes as Theranos founder Elizabeth Holmes and her second-in-command face criminal charges on accusations that they defrauded investors, doctors, and patients. As part of the settlement, Holmes and Theranos did not admit or deny the allegations.

Like this



07 Сентября 2018
New evidence on Russia's United Kingdom attack requires new action
This is the same Russian military intelligence agency that Sergei Skripal had worked for when he was funneling information to MI6. The nerve agent was believed to have been smeared on the front door of his house in the southwestern city of Salisbury in March.

07 Сентября 2018
British Airways customer data stolen from its website
In terms of compensation, BA said they would be in touch with customers "and will manage any claims on an individual basis". The incident comes after an IT meltdown caused huge disruption for BA passengers at the start of the May half-term holiday.

07 Сентября 2018
Special counsel team responds to Trump lawyers on potential interview
The president believes that he has done nothing wrong and that he can prove that and bring an end to the investigation. The New York Times reported Tuesday that Mueller made the concession in a letter to Trump's private lawyers.

07 Сентября 2018
Judge Nap: Booker Will 'Absolutely Not' Be Disciplined for Releasing Kavanaugh Email
Richard Blumenthal of CT , "selecting a justice on the Supreme Court who potentially will cast a decisive vote in his own case". Gonzales sent an email on January 17, 2002, addressing the issue of racial profiling in airport security.

07 Сентября 2018
McCain honored at funeral by Bush and Obama
Ivanka Trump , President Donald Trump's daughter, and her husband, presidential adviser Jared Kushner , were surprise guests. Naval Academy within view of the Severn River and earshot of midshipmen present and future, and alongside a lifelong friend.

06 Сентября 2018
Five things we learned from the Premier League
Both teams are equal top of the Premier League alongside Watford . "Against [for example] Man City, I know it will be hard ", answered Hazard, when asked about the style of football.

06 Сентября 2018
What A New NAFTA Deal Might Mean For The Auto Industry
The updated deal between Mexico and the U.S. includes new clauses on intellectual property, digital trade and investor disputes. But on the sidelines, President Trump and Prime Minister Justin Trudeau have dug into seemingly irreconcilable positions.

06 Сентября 2018
Man Rams Truck Into Dallas TV Station
The man, later identified as 34-year-old Michael Chadwick Fry , paced and scattered numerous handwritten leaflets outside. This was the man who smashed his truck into our station this morning.throwing papers around while yelling "high treason".

06 Сентября 2018
Take a First Look at Brie Larson as 'Captain Marvel'
After the accident, Danvers finds herself imbued with powers including flight, energy projection, and superhuman strength. Captain Marvel will be Marvel's first female-led superhero film, and it sounds like the lead character is up to the task.

06 Сентября 2018
Trump's Supreme Court pick Brett Kavanaugh vows independence, sidesteps questions
Democrats asserted that the lack of time to review those documents made the notion of properly vetting them "laughable". Majority Republicans can confirm Kavanaugh without any Democratic votes, though they'll have little margin for error.