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[2016-07-21] Theranos CEO Elizabeth Holmes Is Worth from 4.5 Billion to Zero:This Is a Thorough Tragedy Now

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Data information is closely related to life in Medical business. Famous blood testing company - Theranos can not get back the trust from the public. The controversy had not stopped since the result of blood test is badly flawed and the data was fake. The valuation of 9 billion have fallen down to zero. And Elizabeth Holmes has 50% stock of the Theranos and it was worth 4.5 billion US dollars. Now she gets nothing since the stock is worth zero.

Theranos was worth $9 billion and became nothing now. And it just took 10 months. Elizabeth Holmes who is the CEO of Theranos was sentenced to forbid engaging in the medical laboratory and any other related field. The Newark laboratory of Theranos in California not only is revoked the laboratory license, but also pays a fine of unspecified amount.
At present, the company has disclosed in an official statement, the Theranos’s founder and CEO Holmes Elizabeth said: We will take full responsibility for the problems of California Newark laboratory, and conduct a comprehensive remedial measures. These remedies include closing and rebuilding the Newark laboratory, rebuilding the quality system, introducing more experienced managers, staff and experts, as well as improving the quality and training procedures.

It is difficult to trust again the technology of Theranos now.
On October last year, the Wall Street Journal pointed out in the report, Theranos grossly exaggerated the company's technology, the blood test results of the equipment Edison that the company developed have a serious deviation. Meanwhile, the United States Food and Drug Administration (FDA) also conducted a survey of Theranos. In their report, saying Edison is unknown instrument and asked Theranos stop most of the blood test.

By March this year, the U.S. health care and assistance center (CMS) also conducted an internal investigation of Theranos. In the survey, it said the Theranos’ testing is seriously flawed and can not maintain the accuracy of the monitoring results.
Recently, as Theranos's largest partner, drugstore chain Walgreen also terminated the cooperation with the company.

Finally, let's recall the history of entrepreneurship Elizabeth Holmes:
In 2003, 19 year-old Holmes dropped out from Stanford University and founded Theranos.

The summer of 2014, Theranos received a $ 400 million financing, valued at $ 9 billion.

In October 2015, the Wall Street Journal reported that, at present most of the Theranos blood tests are used to detect non-Theranos equipment, and then issued a document that in 240 Detection Using its own patented technology is only one.
FDA called Edison for the unknown instrument and asked Theranos stop most of the blood test.

In March 2016, the US Medicare and Assistance Center (CMS) for Theranos conduct an internal investigation. In the survey document said, Theranos's testing is seriously flawed, can not maintain accurate monitoring results.

In April 2016, The Wall Street Journal exposed the Federal Authority and the Securities and Exchange Commission are investigating.

In July 2016, Elizabeth Holmes who is the CEO of Theranos was sentenced to forbid engaging in the medical laboratory and any other related field. The Newark laboratory of Theranos in California not only is revoked the laboratory license, but also pays a fine of unspecified amount.


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