Theranos is closing its blood test facilities and laying off hundreds of employees
Oct06
In 2014, medical testing startup Theranos was valued at $9 billion after having developed a revolutionary blood test that only required a single drop per sample. After its results were found to be inaccurate, the company faced sanctions; its CEO Elizabeth Holmes was banned from operating labs for two years and her net worth revised from $4.5 billion to nothing. In an effort to cut its losses and regroup, the company is now closing its clinical labs and Theranos Wellness Centers in Arizona, California, and Pennsylvania. The move will also see 340 employees get laid off. The company noted in August…
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