Keyword: Elizabeth Holmes
A federal grand jury has indicted Theranos CEO Elizabeth Holmes and former COO Sunny Balwani for several counts of wire fraud.
Theranos settled two lawsuits with Partner Fund Management, which backed the embattled blood-testing startup with a $96.1 million investment in 2014.
Theranos promised CMS it will not run a lab for two years and settled to pay up $4.65 million to Arizona residents who had taken Theranos blood tests.
After Theranos offered to trade shares to investors for promises not to sue, it turns out Holmes is about $25 million in debt to her company.
If you saw that one word—Theranos—on a blank page, you’d probably need no further explanation why this company, setting itself up as diagnostics 2.0, is a rotten tomato. But, just for self-flagellation, let’s go through the saga and hope that it serves as a warning for the future.