Posted on 02/02/2016 6:40:15 AM PST by C19fan
When health care company Theranos announced that it could conduct dozens of blood tests with a finger prick, it sounded too good to be true. Once valued at a staggering $9 billion and greeted by the press with fawning magazine features, Theranos’ troubles have slowly been coming into focus since last fall. The company claimed last year that its proprietary technology can “perform hundreds of tests, from standard to year, from a pinprick and tiny sample of blood,†rather than from blood drawn through a vein in the arm. But last week, after months of heightened scrutiny, the government placed Theranos under the pressure cooker of federal regulation.
(Excerpt) Read more at thedailybeast.com ...
“The company claimed last year that its proprietary technology can perform hundreds of tests, from standard to year, from a pinprick and tiny sample of blood”
What does “from standard to year” mean?
Anyhow, not too surprising.
Still, investors are big boys and can make up their own minds. They get what they get when they chase fairy tales.
Investors are the biggest sheep, not knowing what is good or bad and being afraid to make their own decisions.
That’s why there is so much me-too companies and development out there.
But I am digressing.
Soomebody forgot to have paid off enough White House political funds then.
The company’s approach may work day. This article points out that someone from Google Ventures went Walgreens, took the test, and realized not all that was said was true. They passed on the investment. However NOT ONE JOURNALIST did that while they hyped the product that was even on the cover of Fortune. http://www.businessinsider.com/bill-maris-explains-why-gv-didnt-invest-in-theranos-2015-10
The long knives are out courtesy Quest and LabCorp, the entrenched national Lab companies which have a lot to lose in the face of a new entrant, a disruptive competitor. It is too early to count Theranos out... and now they will see if they can successfully fight the regulatory capture and lobbying might of the Wall Street backed firms they are seeking to take margin from.
Look at the photo - Its Jeff Bezos with a wig!
If her technology works, most of the labs in the country are relegated to voodoo and chicken bones compared with this tool. Lots of money at stake, I’m sure that the lobbyists have encouraged the government to apply their muscle.
Next on American Greed...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.