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Safeway, Theranos Split After $350M Deal Fizzles

wsj.com

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Re: Safeway, Theranos Split After $350M Deal Fizzles

#3

Post by empressplay »

swampthinker wrote: post #2

Could a kind person summarize the article for us that don't have a WSJ subscription?

Click the "web" link in the header at the top of this page and it will google search the article, click on it in google and you'll see the whole thing.

Re: Safeway, Theranos Split After $350M Deal Fizzles

#5

Post by lokeshk »

swampthinker wrote: post #2

Could a kind person summarize the article for us that don't have a WSJ subscription?

Pro tip: Do a google search of the title, and the link that comes up in the result won't require you a WSJ subscription.

PS: This is true for most of the news websites that require subscription.

Re: Safeway, Theranos Split After $350M Deal Fizzles

#8

Post by 7Figures2Commas »

> Theranos often drew the same employee’s blood twice, first with blood from a finger prick and then the traditional method of a needle in the arm, according to one former Safeway executive.

> The former executive said he worried that Theranos’s finger-prick process was still a work in progress. “If the technology is fully developed, why would you need to do a venipuncture?” this person said, using the term for a traditional blood draw.

> The concerns deepened when Theranos’s test results for several Safeway employees differed from the results the same employees got from other laboratories, according to the former executive. Another former Safeway executive confirmed those recollections.

> Theranos also backed away from putting its blood analyzers in Safeway’s clinics so patients could get the results quickly, the current and former executives said.

> Instead, Theranos said blood samples collected at Safeway would have to be shipped to a central lab for analysis, according to the former executives.

Wow. The Theranos story just keeps getting worse.

Re: Safeway, Theranos Split After $350M Deal Fizzles

#9

Post by colmvp »

Some important points from that article:

> Current and former Safeway executives said Theranos missed deadlines for the blood-testing rollout. They also said several Safeway executives questioned the accuracy of results Theranos gave to Safeway employees tested at a clinic in the supermarket chain’s headquarters in Pleasanton, Calif.

> Theranos often drew the same employee’s blood twice, first with blood from a finger prick and then the traditional method of a needle in the arm, according to one former Safeway executive.

> The former executive said he worried that Theranos’s finger-prick process was still a work in progress. “If the technology is fully developed, why would you need to do a venipuncture?” this person said, using the term for a traditional blood draw.

> The concerns deepened when Theranos’s test results for several Safeway employees differed from the results the same employees got from other laboratories, according to the former executive. Another former Safeway executive confirmed those recollections.

> One Safeway executive got a frighteningly high result from Theranos on a test to gauge his prostate-specific antigen, according to two former Safeway executives. They said the test suggested that the executive had prostate cancer. Retesting by another lab came back normal.

Re: Safeway, Theranos Split After $350M Deal Fizzles

#10

Post by rezistik »

goodJobWalrus wrote: post #7

Is having blood tests in grocery stores / pharmacies a newish thing in the US, or it existed for a long time? I lived in the US in 2004-2007, and had blood tests regularly, but it would have never occurred to me to go to a grocery store for one.

It's Theranos business plan I believe.
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