![]() ![]() ![]() Here are the highlights of the rise and fall of Theranos. In 2018, Holmes and Balwani were each charged with a dozen counts of wire fraud and conspiracy to commit wire fraud. Then came a Wall Street Journal investigation into the company, which called into question the company’s testing methods and the capabilities of its technology. She attracted hundreds of millions of dollars in funding, a board of well-known political figures, and key retail partners. Theranos promised patients the ability to test for conditions like cancer and diabetes with just a few drops of blood. With that promise, it attracted $945 million in financing, a board of well-known political figures and prominent retail partners.Ī Stanford University dropout, Holmes – inspired by her own fear of needles – started the company at the age of 19, with a mission of creating a cheaper, more efficient alternative to a traditional blood test. Theranos claimed its technology could accurately and efficiently test for conditions like cancer and diabetes with just a few drops of blood. ![]() Their trials marked the final chapter for Theranos, a startup once valued at $9 billion and lauded for its promise to upend the healthcare industry. Four years after the top two Theranos executives, Elizabeth Holmes and Ramesh “Sunny” Balwani, were first indicted together on a dozen federal fraud charges stemming from their time heading up the failed blood testing startup, both have been convicted by juries. ![]()
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