In Latest Devastating Blow To Theranos, Walgreens Terminates Partnership
The 40 Theranos blood-draw sites inside Walgreens stores in Arizona, which the company calls “wellness centers,” have been the primary source of revenue for Theranos and its conduit to consumers.
The Wall Street Journal:
Walgreen Terminates Partnership With Blood-Testing Firm Theranos
Drugstore operator Walgreen Co. formally ended a strained alliance with Theranos Inc. as regulators near a decision on whether to impose sanctions against the embattled Silicon Valley firm. Some officials at the Walgreens Boots Alliance Inc. unit had grown frustrated at not getting more details and documentation from Theranos after learning it had corrected tens of thousands of blood tests, including many performed on samples collected from patients at Walgreens pharmacies, according to people familiar with the partnership. (Siconolfi, Weaver and Carreyrou, 6/12)
The New York Times:
Walgreens Cuts Ties To Blood-Testing Company Theranos
Walgreens said on Sunday that it was terminating its relationship with Theranos, dealing a severe blow to the embattled blood-testing company. Walgreens said it would immediately close all 40 of the Theranos testing centers in its Arizona drugstores, the source of most of Theranos’s customers. The giant retailer, a part of the Walgreens Boots Alliance, played a critical role in Theranos’s early success. Founded by Elizabeth Holmes, a Stanford University dropout, the company promised to revolutionize the lab industry by being able to offer blood tests through a simple finger prick at a fraction of the cost of conventional testing. (Abelson and Pollack, 6/12)
CNN Money:
Walgreens Ends Relationship With Theranos
Theranos spokesperson Brooke Buchanan said that the firm is working closely with the government to exceed all federal regulations. "We are disappointed that Walgreens has chosen to terminate our relationship and remain fully committed to our mission to provide patients access to affordable health information and look forward to continuing to serve customers in Arizona and California through our retail locations," Buchanan said. (Mclean, 6/12)
KQED:
Walgreens Shutting Down Theranos Centers ‘Immediately’
Theranos still lists five locations where consumers can get their blood tested, four in Arizona and one in California. The Walgreens web page that used to list the locations of Theranos centers now redirects to the drugstore chain’s home page. (Brooks, 6/12)
San Francisco Business Times:
Walgreens Ends Relationship With Theranos, In-Store Centers Closing Immediately
Walgreens will close all 40 remaining Theranos Wellness Centers, the drugstore chain said Sunday, and terminate its nearly three-year relationship with Theranos Inc.
In a statement late Sunday afternoon, Walgreens (NASDAQ: WBA) said it told Palo Alto-based Theranos that the 40 centers set up in Walgreens stores in Arizona will close effective immediately. The decision "means Walgreens will no longer offer Theranos services at any of its stories." (Leuty, 6/12)