What happened with Walgreens and Theranos?
The deal with Walgreens, regarded as Theranos’s most visible and potentially lucrative partner, involved in-store testing centers at 40 locations. But when its vision collapsed, after it was alleged that Theranos had been running many of its tests on standard equipment, Walgreens sued the start-up seeking $140 million.
Did Walgreens Sue Theranos?
As part of their contract, Theranos ran blood-drawing sites at 40 Walgreens stores in the Phoenix area and one in northern California. The drugstore operator filed the lawsuit in an effort to recover some of its investment in Theranos if the startup is liquidated, one of the people familiar with the matter said.
What did Theranos promise Walgreens?
Theranos and its founder Elizabeth Holmes promised Walgreens it would see big sales and profits from the startup’s blood tests, the drug store chain’s former chief financial officer testified at Holmes’ trial Wednesday.
How much did Safeway invest in Theranos?
Safeway and Walgreens’ deals with Theranos Safeway, which signed a contract with the blood-testing startup in 2010, spent nearly $400 million on the deal, the bulk of which went into remodelling 969 stores to build patient service centers.
How much did Walgreens invest in Theranos?
Drugstore giant Walgreens paid Palo Alto blood-testing startup Theranos $100 million, and invested $40 million more in the failed company, a former Walgreens executive testified at Theranos founder Elizabeth Holmes’ criminal fraud trial Wednesday.
Can you buy a blood test kit at Walgreens?
Customers can order the test, which costs $119, through the Walgreens Find Care platform, through the Walgreens app, or on Walgreens.com. They then mail the test kit back with a prepaid FedEx Priority Overnight package and can view the results through a secure portal.
Is Elizabeth Holmes still a billionaire?
By 2015, Forbes had named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9-billion valuation of her company….
| Elizabeth Holmes | |
|---|---|
| Years active | 2003–2018 |
| Title | Founder and former CEO, Theranos |
| Spouse(s) | Billy Evans ( m. 2019) |
| Partner(s) | Ramesh Balwani (2003–2016) |
Who is Safeway CEO?
Robert Gerald Miller (Apr 10, 2015–)
Safeway Inc./CEO
Did Safeway invest in Theranos?
Safeway dissolved its partnership with Theranos in 2015, two years after Burd retired. But Theranos never realized those aspirations, and Holmes is now charged with 12 counts of wire fraud and conspiracy in connection with misleading investors and patients.
What was Theranos trying to do?
In 2003, Stanford University student Elizabeth Holmes founded the health care company Theranos. The goal of the company was to revolutionize health care. Beginning with the goal of creating a patch to deliver drugs, the company instead shifted focus to developing a simple and effective method for blood diagnosis.
Is Theranos FDA approved?
The U.S. health administration gave the clearance for Theranos to run a test for herpes on that machine in July – and was the only test the FDA approved Theranos to run. But things might be going from bad to worse for the company valued at $9 billion on paper.