theranos mission statement

endobj /Tabs /S /P 48 0 R << An indictment merely alleges that crimes have been committed, and the defendants are presumed innocent until proven guilty beyond a reasonable doubt. /P 308 0 R Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. null null 214 0 R null null] >> /Contents [417 0 R 418 0 R 419 0 R] /P 8 0 R With Onetime wunderkind Holmes and Balwani, her former partner in business and domestic affairs, stand charged with nine federal counts . 241 0 obj >> /Pg 252 0 R << He . << /K 140 0 R The defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests, including the tests for calcium, chloride, potassium, bicarbonate, HIV, Hba1C, hCG, and sodium. Attorneys Jeff Schenk, Robert S. Leach, and John C. Bostic are prosecuting the case with the assistance of Laurie Worthen and Bridget Kilkenny. /P 48 0 R /P 33 0 R While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. endobj Theranos' mission: a blood test requiring only a pinprick of blood, enough to run dozens of medical tests on the startup's hi-tech machines. /Pg 257 0 R /Annots [] endobj /S /Sect /Pg 257 0 R 78 0 obj Balwani . /Pg 235 0 R << << >> >> /Rotate 0 >> endobj /Lang (EN-US) /S /LI /K 189 0 R 132 0 obj /S /LI /Lang (EN-US) endobj << >> A sign outside of the headquarters of Theranos in Palo Alto, California on January 24, 2016. << /P 48 0 R In addition, the defendants delivered to doctors and patients blood results that were inaccurate, unreliable, and improperly validated. 75 0 obj /Lang (EN-US) /Lang (EN-US) endobj endobj By Elizabeth Lopatto / @ mslopatto. 17 0 obj /S /LI /P 8 0 R 178 0 obj 269 0 obj /S /P << << /Type /Pages endobj << Ms. Holmes's lawyers have said the entrepreneur dedicated 15 years to Theranos's mission and her only crime was having a startup that failed, as so many do /Parent 12 0 R 165 0 obj << endobj /S /P /P 48 0 R /P 54 0 R >> /P 306 0 R endobj /P 292 0 R /Lang (EN-US) /Lang (EN-US) /Type /Pages null null 225 0 R null null null 226 0 R null null null /K 21 /S /P /S /LI << /K 10 Join the Ars Orbital Transmission mailing list to get weekly updates delivered to your inbox. 145 0 obj /K 38 << << 212 0 obj /Parent 5 0 R /Lang (EN-US) uuid:f59fd1a5-0a21-408a-99c1-079770aebbbd /K 19 Since this form of unethical behavior may lack the pangs of guilt and/or shame that generally provide people with a certain amount of self-restraint and hesitation, it can be difficult for others to suspect any bad conduct. /Lang (EN-US) /K 26 endobj /MCID 2 /K 10 /Lang (EN-US) /MCID 2 << /Pg 235 0 R 131 0 obj 159 0 obj stream 50 0 obj /P 51 0 R endobj /P 305 0 R endobj /Tabs /S >> In court documents, federal prosecutors have said Holmes is a flight risk. 93 0 obj Department of Justice GET FOX BUSINESS ON THE GO BY CLICKING HERE. Theranos is a consumer healthcare technology company. /P 320 0 R 320 0 obj /Lang (EN-US) 393 0 obj >> /S /P endobj /S /LI /P 51 0 R /P 55 0 R /StructParents 13 endobj << A young (age-defying), pure-looking (evil-defying), masculine-sounding (stereotype-defying) female CEO speaking about Theranos unfulfilled feats in the present or past present tense, Holmes proposition was so enticing that she was able to assemble one of the most impressive boards in corporate America. 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R 80 0 R 81 0 R 82 0 R 83 0 R 84 0 R >> 10 0 obj >> 176 0 R null null null 177 0 R null null null 178 0 R null 149 0 obj /P 55 0 R endobj >> /Type /Page /Pg 257 0 R 315 0 obj uuid:08e7f9c5-06b3-4447-b9e6-d8f448ec8b85 /P 273 0 R After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week. /Pg 249 0 R endobj 61 0 obj The next witness was Erika Cheung, who was hired by Theranos out of undergrad as a lab associate. /Pg 257 0 R 159 0 R null null null 160 0 R null null null 161 0 R null /S /LBody << /K 190 0 R Surprisingly, few paid much attention to that unchecked gap before the truth began to come out. /S /P endobj /S /L /Type /Page 13 0 obj 4 0 obj 185 0 R null null] endobj /S /P >> /S /LI Once a strong believer in Theranos' mission, Mattis testified that he eventually realized the Holmes had misled him with empty promises. 19 [null null 215 0 R null null null 216 0 R null null null 22 [70 0 R 71 0 R 72 0 R 73 0 R 74 0 R 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R >> /K 22 /P 334 0 R /O /Layout >> /StructParents 5 /StructParents 17 189 0 obj >> /S /LI /Pg 235 0 R << >> /Pg 257 0 R /P 264 0 R /Pg 237 0 R << /Resources 432 0 R endobj 160 0 obj /P 8 0 R /Lang (EN-US) 116 0 obj endstream 385 0 obj /S /LBody /K 41 /Lang (EN-US) Follow Mike Snider on Twitter:@mikesnider. %PDF-1.5 126 0 obj << /P 50 0 R endobj /K 220 0 R /Pg 248 0 R /S /LBody /P 8 0 R >> << The average salaries at Bloomberg rank the highest, with their employees earning an. /P 381 0 R /P 8 0 R /Parent 14 0 R /Pg 256 0 R << >> << To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. /MediaBox [0 0 612 792] /Pg 250 0 R /K 10 A vision and its attached goals may inspire and motivate, but they can also severely contrive our ability to consider a broader set of possibilities or address contradictory information. /P 359 0 R /P 42 0 R /Tabs /S Recalls, Market Withdrawals and Safety Alerts, Inspections, Compliance, Enforcement, and Criminal Investigations, June 15, 2018: Theranos Founder and Former Chief Operating Officer Charged in Alleged Wire Fraud Schemes. 123 0 R null null null 124 0 R null null] /P 332 0 R 180 0 R null null null 181 0 R null null null 182 0 R null >> /P 54 0 R /Lang (EN-US) endobj /K 214 0 R /S /P null null 142 0 R null null null 143 0 R null null] /Lang (EN-US) /Pg 246 0 R 46 0 obj /Lang (EN-US) << In many ways, Theranos is the embodiment of Silicon Valley startup culture. /Pg 235 0 R /CropBox [0 0 612 792] << /S /LBody 130 0 obj The extraordinary entrepreneur on Fortune's June cover explains her mission and opportunity aheadWant to see more Fortune Video? << << The motion for release said that Holmes is not a flight risk and "is highly motivated to continue complying with her conditions of release sothat she can work with her lawyers while she pursues her appeal.". << /Pg 245 0 R /Pg 255 0 R null null 131 0 R null null] endobj /Lang (EN-US) 180 0 obj >> . /Annots [] /K 230 0 R x+ | endobj /K 121 0 R /K [8 94 0 R] Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". << /Pg 250 0 R endobj /P 48 0 R /Lang (EN-US) /Pg 243 0 R >> /Annots [] /K 22 >> endobj >> /Lang (EN-US) stream /Lang (EN-US) /P 8 0 R 288 0 obj Theranos was a private health care company, with a mission to revolutionize lab testing through innovative methods for drawing blood, testing blood, and interpreting resulting patient data. >> endobj /P 266 0 R << /Type /Page /P 48 0 R Several months later, with encouragement from her professor, Channing Robertson, Holmes quit Stanford. >> /Pg 255 0 R 254 0 obj Total losses surpassed $800 million, prosecutors said. >> 214 0 obj Through these advertisements, the defendants explicitly represented to individuals that Theranoss blood tests were cheaper than blood tests from conventional laboratories to induce individuals to purchase Theranoss blood tests. /Tabs /S endobj /P 353 0 R /Rotate 0 /K 219 0 R /P 48 0 R That innovation combined with the use of technology to build a somewhat bulkier though still miniature and portable yet more reliable version of the micro-Lab would have provided plenty of opportunity to make strides towards the dream of empowering people with reliable, timely and inexpensive blood testing. 240 0 obj 39 0 obj >> 53 0 obj << 102 0 obj 153 0 obj /Contents [433 0 R 434 0 R 435 0 R] 237 0 obj /P 323 0 R /Lang (EN-US) 103 0 obj /P 263 0 R >> endobj /P 63 0 R >> /P 55 0 R /Lang (EN-US) >> 122 0 obj Most of the tests that Theranos was performing for clients were done on devices made by other companies, Cheung testified. >> >> /K 18 /K 18 << >> /Lang (EN-US) /CropBox [0 0 612 792] /P 8 0 R /P 8 0 R << The employees at Morgan Stanley earn an average yearly salary of $103,933 per year, and the salaries at National Journal average $73,533 per year. /Contents [485 0 R 486 0 R 487 0 R] << endobj 352 0 obj /K 172 0 R /K 9 >> >> /P 8 0 R endobj >> The company's stated mission was to "revolutionize medical laboratory testing," according to the Department of Justice. /Lang (EN-US) endobj /K 10 Best Companies to Work for in Palo Alto, CA, Best Start-up Companies to Work For in America, Best Health Care Companies to Work For in California, Best Start-up Companies to Work For in California, Best Companies to Work For in Palo Alto, CA, Best Health Care Companies to Work For in Palo Alto, CA, Best Start-up Companies to Work For in Palo Alto, CA. /S /P /P 59 0 R 279 0 obj /S /P >> /P 50 0 R /S /LBody /S /LBody /StructTreeRoot 3 0 R /Pg 258 0 R endobj "Sunny Balwani did not start Theranos," said the lawyer . << /P 51 0 R 21 [60 0 R 61 0 R 62 0 R null null 229 0 R null null null 230 0 R /Pg 241 0 R 48 0 obj /S /LBody /S /LI /Lang (EN-US) /S /P /S /P << 202 0 obj /S /LI 218 0 obj << According to the indictment returned yesterday and unsealed today, the charges stem from allegations Holmes and Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. /P 380 0 R endobj /Pg 250 0 R 396 0 obj The Indictment Alleges That Investors Were Defrauded. /K 128 0 R /P 328 0 R 72 0 obj /S /LBody /P 8 0 R >> /K 153 0 R /S /LI 232 0 obj /Lang /P 277 0 R 299 0 obj /Lang (EN-US) 65 0 obj >> 271 0 obj /Rotate 0 << endobj endobj /S /LBody Subscribe to our channelhttp. >> /Pg 258 0 R 277 0 obj Former Theranos board member and former Secretary of Defense James "Mad Dog" Mattis testified last week in the criminal trial of former Theranos CEO Elizabeth Holmes. Further, the indictment alleges that based on the defendants misrepresentations and omissions, many hundreds of patients paid, or caused their medical insurance companies to pay, Theranos, or Walgreens acting on behalf of Theranos, for blood tests and test results, sometimes following referrals from their defrauded doctors. >> /StructParents 1 endobj /Type /Page /Rotate 0 /K 125 0 R /K 393 0 R Elizabeth Holmes (Reuters); Ramesh "Sunny" Balwani (Getty Images). << endobj /S /LBody /P 267 0 R The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /P 50 0 R /S /TD << /K 2 /Parent 14 0 R >> /S /LI /Type /Pages 227 0 R null null null 228 0 R null null] /Resources 420 0 R /ParentTreeNextKey 24 /S /LI << /Lang (EN-US) /K 138 0 R << /S /LI /Pg 242 0 R >> >> /StructParents 11 /S /LBody /P 8 0 R These detailed accounts show a pattern of behaviors consistent with a distorted motivational and cognitive state. /K 12 endobj /S /LBody endobj >> << >> /K 10 /S /LI /P 338 0 R /Pg 235 0 R endobj 373 0 obj /P 50 0 R /K 12 165 0 R null null null 166 0 R null null null null 167 0 R /P 63 0 R /P 317 0 R << >> /Annots [] /Lang (EN-US) /K 160 0 R Northern District of California, FOR IMMEDIATE RELEASEFriday,June 15, 2018, Elizabeth Holmes and Ramesh Sunny Balwani Are Alleged to Have Perpetrated Multi-million Dollar Schemes to Defraud Investors, Doctors, and Patients. endobj Here are three culture takeaways from the Theranos scandal that are relevant to all leaders and employees. << 70 0 obj Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. << /S /LBody /K 186 0 R >> /K 178 0 R 380 0 obj /Pg 256 0 R /K 16 /P 50 0 R << /K 155 0 R /P 380 0 R /K 49 endobj Mr. Balwani's lawyer started his opening statement by deflecting blame onto Ms. Holmes, who was the chief executive of Theranos. endobj /Contents [481 0 R 482 0 R 483 0 R] /P 63 0 R Carreyous account of Safeways engagement with Theranos is powerful. /Pg 251 0 R /K 9 /Pg 258 0 R /Lang (EN-US) /Pg 243 0 R According to The Associated Press, the Journals investigation marked the beginning of the end of Theranos. /Lang (EN-US) /S /LI /K 28 Indication(s) for use: Same as the intended use 3. /K 152 0 R I did not think the technology we were using was adequate enough to be engaging in that behavior.. << 337 0 obj Holmes dropped out of Stanford University at 19 to found Theranos in 2003. endobj << /K 45 /Annots [] /K 7 29 0 obj 375 0 obj /Pg 249 0 R >> +1 (202) 442-3507. endobj << emblazoned in block capitals in the Theranos lobby, was 'Do or do not. /Lang (EN-US) 19 0 obj It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. << endobj << << (Photo by Kristoffer Tripplaar/AP). << /CropBox [0 0 612 792] << 345 0 obj /P 8 0 R /K 203 0 R 49 0 obj But Theranos shared very little about its blood-testing machine with the public or medical community. /Lang (EN-US) << /Lang (EN-US) Easy acce View the full answer application/pdf /S /LI /P 329 0 R >> << >> endobj endobj endobj /S /LI The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. The company grew to be worth more than $9 billion, employing more than800 employees attracting investors such asLarry Ellison, founder of Oracle; Rupert Murdoch, billionaire media mogul; and the Walton family, who founded Walmart. /Pg 245 0 R << /Pg 256 0 R endobj /K 30 >> /Pg 235 0 R /Rotate 0 /K 126 0 R endobj Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. >> 351 0 obj >> /P 268 0 R >> endobj << The Theranos story has been turned into an HBO . /P 380 0 R << /P 8 0 R endobj endobj THERANOS FOUNDER ELIZABETH HOLMES IN COURT; ANATOMY OF A FRAUD. /Pg 258 0 R 59 0 obj /Lang (EN-US) /P 46 0 R /S /LI Though highly desirable, these significant features were not as instrumental in the fulfillment of Theranos vision as they were initially pledged. 186 0 obj << /P 294 0 R /P 357 0 R /Lang (EN-US) /Type /Page 211 0 R null null null 212 0 R null null null 213 0 R null Founded in 2003, Theranos is an established company that loves to hire graduates from Pima Medical Institute, with 15.9% of its employees having attended Pima Medical Institute. 163 0 obj >> /Lang (EN-US) endobj /Underline /Span /Pg 235 0 R 205 0 obj -mission statement: to make actionable information accessible to everyone at the time it matters. endobj 332 0 obj 235 0 obj After asking questions about Theranos continued losses and lack of revenue, prosecutors showed Yam a document they said was shared with investors; it projected $140 million in revenue in 2014 and $990 million in 2015. endobj /Lang (EN-US) Theranos is headquartered in Palo Alto, CA. /K 51 /K 28 << /Pg 237 0 R /P 55 0 R /Pg 240 0 R >> << /Pg 251 0 R << endobj /S /LI Both schemes involved efforts to promote Palo Alto, Calif.-based Theranos. /S /LBody /S /P /Pg 255 0 R << endobj /Pg 239 0 R /S /P /Resources 472 0 R << /Pg 248 0 R /StructParents 10 /S /L 378 0 obj Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. /Pg 252 0 R /P 48 0 R /Lang (EN-US) Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. Nies was hired at Theranos in March 2015 for $185,000 a year to be the senior manager of customer service and call center operations at the company's headquarters in Palo Alto, Calif., according . Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. /Type /Catalog endobj /K [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R /S /LBody /Pg 243 0 R endobj 251 0 obj /Lang (EN-US) /K 156 0 R 1 endobj << /Lang (EN-US) /Pg 237 0 R 33 0 obj /S /P /Tabs /S << << /P 8 0 R << >> /K 163 0 R << /Pg 253 0 R << << >> /Lang (EN-US) /Lang (EN-US) /K 174 0 R /S /LI /K 221 0 R 323 0 obj endobj /StructParents 3 >> /Lang (EN-US) >> >> >> In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon Valley startup that sought to revolutionize blood testing. /Parent 12 0 R /K 166 0 R /K 22 /MediaBox [0 0 612 792] Elizabeth Holmes blue eyes and baritone voice, her, albeit incomplete, Stanford credentials and well-crafted life narrative were the perfect exterior to a dream-come-true vision of a better future for millions of people. /Contents [437 0 R 438 0 R 439 0 R] /S /LI 194 0 obj << /Pg 255 0 R >> /StructParents 4 9 0 obj >> /Lang (EN-US) /Pg 258 0 R endobj endobj /P 336 0 R /P 8 0 R /Pg 240 0 R /K 18 endobj >> << /Annots [] /Bibliography /BibEntry 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R /P 381 0 R Theranos' mission was "to make actionable health information accessible to people everywhere in the world, at the time they most need it." It was a lofty, inspiring, and valiantly unifying purpose, . /MediaBox [0 0 612 792] << << /Lang (EN-US) /Superscript /Span /Tabs /S >> /Pg 246 0 R /Pg 250 0 R /P 8 0 R endobj Peter DaSilva/Reuters. endobj << 168 0 obj Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. 138 0 obj After all, one of Theranos top achievements was the very idea Holmes herself had developed an idea she never put through the rigor of scientific testing before defining its contours. /S /LI /Lang (EN-US) /K 14 /S /LI /S /LI /K 30 << To conduct any kind of research for any company in any industry. /Tabs /S /Pg 258 0 R /P 8 0 R /Type /MCR << /S /LI endobj /Annots [] /P 8 0 R << /K 133 0 R /K 6 54 0 obj << /RoleMap 7 0 R When he sentenced Holmes, U.S. District Judge Edward Davila pushed to April 27 her report date to a prison in Byron, Texas, so she could give birth to her second child before being incarcerated. 193 0 obj /MediaBox [0 0 612 792] >> >> endobj >> 238 0 obj /K 7 >> 157 0 obj 97 0 obj /Lang (EN-US) The indictment further alleges that Holmes and Balwani knew that many of their representations about the analyzer were false. /Rotate 0 /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. >> /Pg 239 0 R >> The two pleaded not guilty to wire fraud and conspiracy to commit wire fraud. /MCID 2 >> << All rights reserved. endobj /S /LBody /Resources 448 0 R The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial . >> Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. 66 0 obj null 110 0 R null null null 111 0 R null 112 0 R null 113 0 R /Tabs /S endobj endobj /S /L 369 0 obj /P 8 0 R /Type /Page Palantir has . endobj << /S /LI /S /LBody >> SAN JOSE - A federal grand jury has indicted Elizabeth A. Holmes and Ramesh Sunny Balwani, announced Acting United States Attorney Alex G. Tse, Federal Bureau of Investigation (FBI) Special Agent in Charge John F. Bennett; Food and Drug Administration (FDA) Commissioner Scott Gottlieb; and U.S. /K 1 /K 14 << endobj /K 21 191 0 obj >> >> endobj << /Lang (EN-US) endobj /Type /MCR >> /Pg 235 0 R >> /P 380 0 R The company spent over $150,000 surveilling her and another whistleblower. /S /LBody /P 50 0 R << << endobj >> /Lang (EN-US) >> /MediaBox [0 0 612 792] /Lang (EN-US) << /Lang (EN-US) /Rotate 0 /Pg 257 0 R endobj /S /LI endobj << >> /S /LBody /BBox [79.9440002441 274.9559936523 453.9599914551 398.8439941406] /P 379 0 R The site is secure. 387 0 obj /Pg 257 0 R >> [2] This was done through a medical device called a nanotainer, which drew, retained, and analyzed mere droplets of blood from the patient's fingertip and . /Pg 235 0 R >> /K 175 0 R /Annots [] /K 47 302 0 obj /Creator (Acrobat PDFMaker 18 for Word) About us Our mission is to make actionable information accessible to everyone at the time it matters. endobj /K 26 It then allegedly used those articles to generate financial interest. /S /LBody endobj endobj 296 0 obj Washington, DC. 257 0 obj null null 174 0 R null null null 175 0 R null null null 364 0 R 365 0 R 366 0 R 367 0 R] /K 184 0 R >> endobj n. o s /) was an American privately held corporation that was touted as a breakthrough health technology company. Claim This Company. /K 202 0 R >> << /P 55 0 R 336 0 obj /K 4 /P 33 0 R /Lang (EN-US) 183 0 obj /P 303 0 R Holmes rocketed to Silicon Valley stardom nearly a decade ago when she started speaking publicly about Theranos's vision a small . /S /LI There is no try', stolen from . >> << Employees in the top 10 percent can make over $68,000 per year, while employees at the bottom 10 percent earn less than $28,000 per year. /K 25 /Type /MCR /Parent 14 0 R /S /LI /Pg 245 0 R 2023 FOX News Network, LLC. /P 33 0 R /Resources 456 0 R /K 234 0 R The tests performed on Theranos technology, in addition, were likely to contain inaccurate and unreliable results. >> << endobj /Lang (EN-US) null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R /P 310 0 R /Lang (EN-US) /S /LBody endobj Brian Grossman had 20 years of experience in the healthcare space but his firm, PFM Health Sciences, invested $96 . 353 0 obj /P 367 0 R << >> endobj /S /LI /P 48 0 R 109 0 obj >> /CropBox [0 0 612 792] /Lang (EN-US) null] /P 54 0 R /Lang (EN-US) /P 8 0 R /MediaBox [0 0 612 792] >> >> 44 0 obj /P 361 0 R /Pg 239 0 R >> 21 0 obj /Lang (EN-US) /P 171 0 R /P 8 0 R She had a strong sense of conviction to her mission., Cheung quit after seven months on the job and filed a whistleblower complaint with the Centers for Medicare and Medicaid Services, alleging that the company used expired lab supplies for tests run on its proprietary Edison testing devices, which themselves had major stability, precision, and accuracy problems., I was uncomfortable processing patient samples, she said. << This conspiracy misled doctors and patients about the reliability of medical tests that endangered health and lives.. >> 55 0 R 56 0 R 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R endobj 5 [null null 137 0 R null null null 138 0 R null null null 329 0 obj Nov 8, 2017. /Lang (EN-US) 293 0 obj >> endobj 306 0 obj << /K 20 At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. Holmes only canceled the trip after prosecutors contacted Holmes attorneys about the unauthorized flight, prosecutors said. Its not uncommon for startups to lose money in their early years, and its not entirely unusual for the fastest burn rate to happen right before things turn around. /CropBox [0 0 612 792] /K 10 << /S /LBody >> /K 25 >> /K 115 0 R /MediaBox [0 0 612 792] << 35 0 R 36 0 R 37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R /Type /MCR endobj /S /Span /P 285 0 R All rights reserved. /S /LBody /ModDate (D:20180314090210-07'00') << /S /L A jury will decide whether Ms. Holmes, who founded Theranos and hawked a mission of revolutionizing health care, lied to investors about her company's technology. /Pg 249 0 R 1. 95 0 obj Around the time that Theranos was losing nearly $2 million per week, investors in the blood-testing startup were being told that the company would soon be bringing in almost $1 billion per year. endobj << The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /P 8 0 R endobj endobj 222 0 obj null null 136 0 R null null null 137 0 R null null] Assistant U.S. 228 0 obj /S /LI /S /LBody /Resources 468 0 R /Pg 235 0 R U.S. Attorneys Office /P 8 0 R Holmes will head to trial starting Aug. 4, and Balwani will be tried afterthe conclusion of Holmes case, Bloomberg reported. /Contents [457 0 R 458 0 R 459 0 R] stream /K 187 0 R << endobj /Contents [493 0 R 494 0 R 495 0 R] /Pg 238 0 R /P 8 0 R /P 8 0 R /K 2 /K 209 0 R /Type /MCR endobj /Parent 13 0 R /Parent 14 0 R >> << /K 24 << /Contents [497 0 R 498 0 R 499 0 R] /S /P << << >> << /Pg 244 0 R 367 0 obj /Lang (EN-US) The boundless part of her visioning deserves extra attention. >> /S /LBody A March 17 hearing is scheduled on her request to stay out of prison during her appeal. /K 2 >> 167 0 obj /P 371 0 R >> 289 0 obj endobj /K 14 67 0 obj 11 [null null 169 0 R null null null 170 0 R null null null 3 [null null 125 0 R null null 43 0 R null null 126 0 R null /P 40 0 R 386 0 obj Legal Statement. >> /K 29 278 0 obj /Marked true /Lang (EN-US) >> /P 54 0 R /Pg 257 0 R The business had garnered hundreds of millions of dollars in investments and was valued at $9 billion in 2015, when a Journal expose showed the company had some not-so-favorable secrets. /S /LI endobj << /Annots [] 374 0 obj >> /Strikeout /Span endobj Cultivating a boundless vision until the very end completely untethered from the status quo, rules, requirements and the demands of the here and now Holmes and Theranos were on a special kind of journey. /K 194 0 R /Lang (EN-US) /K 197 0 R /P 50 0 R /S /P << /S /P /Lang (EN-US) /Lang (EN-US) /P 48 0 R << << /P 297 0 R 35 0 obj 142 0 obj << 31 0 obj >> 341 0 R 342 0 R 343 0 R 344 0 R 345 0 R 346 0 R 347 0 R 348 0 R] Elizabeth Holmes speaks on stage at the Glamour Women of the Year Awards where she receives an award, in New York, NY on Nov. 9, 2015. /Pg 248 0 R << /Type /Page /P 8 0 R /Lang (EN-US) /Lang (EN-US) endobj /S /LBody << /K 2 /S /LI 342 0 obj 174 0 obj 307 0 obj >> << /K 2 /P 309 0 R << /S /P /P 346 0 R >> >> /P 261 0 R /S /LI >> /P 280 0 R /Lang (EN-US) /K 9 /Contents [449 0 R 450 0 R 451 0 R] endobj /P 55 0 R /Lang (EN-US) >> << /P 54 0 R The FDA would like to extend our thanks to our federal law enforcement partners for sending a strong message to Theranos executives and others that these types of actions will not be tolerated, said Catherine A. Hermsen, Acting Director, FDA Office of Criminal Investigations. << /K 8 /K 171 0 R << >> Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. 128 0 obj 219 0 obj 124 0 obj /Annots [] Holmes, Balwani, and Theranos also made false or misleading statements to investors about many aspects of Theranos' business, including the capabilities of its proprietary << endobj << /P 315 0 R endobj /Lang (EN-US) Instead, Theranos continued to produce mounting losses.

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