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WhiteTara

(29,676 posts)
Thu May 19, 2016, 10:37 AM May 2016

Theranos Has Junked Two Years of Blood Test Results

https://www.yahoo.com/news/theranos-junked-two-years-blood-042415694.html?nhp=1

Troubled biotech firm Theranos Inc. has reportedly told regulators that two years of results from its blood-testing machines have been voided, meaning that tens of thousands of patients could have been given incorrect results.

The company and its founder Elizabeth Holmes were once the darlings of investors, earning a valuation of $9 billion in 2014 on the back of claims that new technology in their Edison brand machines would revolutionize medical testing. But federal regulators have found major problems at Theranos’ California laboratory, and are considering banning Holmes from being involved in lab tests for two years.

The Wall Street Journal, which first raised questions over the accuracy of testing by the company last year, reports that Theranos has told health care regulator the Centers for Medicare and Medicaid Services that all Edison test results from 2014 and 2015 have been thrown out.

The company is issuing corrected results of tests conducted up to two years ago to doctors and patients, who may have already based clinical decisions on the initial tests, the Journal said, citing a person familiar with the matter and several doctors around the U.S.
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Theranos Has Junked Two Years of Blood Test Results (Original Post) WhiteTara May 2016 OP
I just read the wikipedia on Theranos sounds like a dodgy company. TexasProgresive May 2016 #1
It sure does sound dodgy! WhiteTara May 2016 #2

TexasProgresive

(12,148 posts)
1. I just read the wikipedia on Theranos sounds like a dodgy company.
Thu May 19, 2016, 11:06 AM
May 2016

According to wiki they only had approval for a herpes test using the Edison device.

https://en.wikipedia.org/wiki/Theranos
On October 28, 2015, the Food and Drug Administration also reported major shortcomings in the company's practices and ordered Theranos to stop using its Edison device, which it had neither tested for accuracy nor approved, contrary to the company's previous claims.[33] Theranos was ordered to limit its use of Edison to one of the 200 tests it offers. The Arizona Department of Health Services reported issues in the company's other laboratory.[34]

Theranos asserted that the reports were “factually and scientifically erroneous and grounded in baseless assertions by inexperienced and disgruntled former employees and industry incumbents.”[35] Subsequently, a key metric of Theranos valuation was notably called into question when Walgreens placed on hold further expansion of Theranos Wellness Centers.[36] Additionally, after an FDA inspection Theranos reports it has voluntarily suspended use of its flagship micro or low volume blood testing technique except for Herpes virus testing.[37]

Subsequent articles have called into question the credibility of statements Theranos has previously made regarding the nature and source of its income.[31] Though Theranos has often claimed to have FDA approval for its laboratory tests, FDA inspection reports from 2014 and 2015 suggest that the government has noted significant concerns.[38]

WhiteTara

(29,676 posts)
2. It sure does sound dodgy!
Thu May 19, 2016, 12:23 PM
May 2016

All those people trusted this company with their money and lives. I wonder when the class action lawsuit will begin.

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