People. Progress. Results.

Walgreens Cuts Ties to Blood-Testing Company Theranos

Posted by Steve Schram on June 13, 2016 at 10:02 AM

Originally published on June 12, 2016 by Reed Abelson and Andrew Pollack on The New York Times

Walgreens said on Sunday that it was terminating its relationship with Theranos, dealing a severe blow to the embattled blood-testing company. Walgreens said it would immediately close all 40 of the Theranos testing centers in its Arizona drugstores, the source of most of Theranos’s customers.

The giant retailer, a part of the Walgreens Boots Alliance, played a critical role in Theranos’s early success. Founded by Elizabeth Holmes, a Stanford University dropout, the company promised to revolutionize the lab industry by being able to offer blood tests through a simple finger prick at a fraction of the cost of conventional testing.

Read the full story