...is likely, Ms Holmes’ “I’ve made the decision to double down and stick by it no matter how hard the path” and to be involved with AACC in the future, will be more empty Theranos promises. Also WaPo, TechCrunch and POLITICO Morning eHealth Is Theranos–and Ms Holmes–too far ‘gone’ to be credible or funded? Will there even be a Theranos company to develop this? Will Ms Holmes remain in the business through successfully appealing her imminent ban? The only sensible conclusion is that we’ll believe the technology–and her–when we see it is properly and independently verified–and operated by a company... Continue Reading
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The Theranos story, ch. 17: closing the barn door after the horse
...Forth And Sinning No More. The Object Lessons taught by the Theranos Troubles, to us in healthcare tech, continue. WSJ, Theranos Hires Compliance, Regulatory Executives (if paywalled, search on the headline)–do see the comments, the pitchforks are out! For a marvelous demonstration of Silicon Valley Shuffle Stepping, see the SF Chronicle on how Zenefits, another unicorn that got into trouble, isn’t like Theranos at all (it isn’t, but then again they don’t do health-critical blood testing, just benefits management and software). And this is our 17th chapter on The Theranos Story–to see the previous 16 (not including mentions), see here.... Continue Reading
The Theranos Story: now as a cartoon strip, not so ‘funny as a heart attack’ lawsuit
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2016/04/Yak_52__G-CBSS_FLAT_SPIN.jpg” thumb_width=”150″ /]The absolutely funniest take that this Editor has seen is a funny paper–literally a (scroll down) cartoon strip that serializes the Theranos story. ‘The Rise and Fall of a Health Care Tech Unicorn’ lampoons CEO Holmes’ dropping out of Stanford, the Rube Goldberg-esque (=UK Heath Robinson) Edison Machine to the Wall Street Journal Exposé. $9 billion to $9. Depicted by Fiore for KQED San Francisco’s Future of You blog. Unfortunately, for one now-plaintiff, Theranos isn’t funny at all. According to a lawsuit filed Monday in the US District Court in Arizona against both Theranos and Walgreens Boots... Continue Reading
StartUp Health’s midyear report: digital health investment breaks record
...reports). Series B now accounts for 18 percent of deals, $600 million in funding. Series C through E drop off precipitously from $400 to well below $100 million. Median on rounds haven’t moved much: $3.9 million Series A and seed, $17 million in B/C, $21 million D and after. Given the regulatory environment and the wisdom of going slow in health tech (poster child–Theranos), this also points to a disconnect between the Silicon Valley mentality of ‘make it quick and exit’ and reality. IPOs have been a mixed picture, with most fluctuating in price and market cap, few making it... Continue Reading
More reflections on, significance of the Theranos quagmire (updated)
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2016/04/Yak_52__G-CBSS_FLAT_SPIN.jpg” thumb_width=”150″ /]Theranos’ spin towards the Auger In continues. Truth or Consequences are apparent. So are setbacks. Wired has put together a timeline of the key events in The 9 Events That Have Pretty Much Doomed Theranos, most of which our Readers in following our coverage (index here from 2013) are already familiar with. One interesting point is #7, which touches on another gift to the legal profession–the class action lawsuit. Eight lawsuits are already in process, and at least one names former partner Walgreens Boots. SEC and DOJ’s interest. The SEC, limited in its action because Theranos got... Continue Reading
Theranos denouement: CMS closes lab, fine, 2-year ban on Holmes (breaking)
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2016/04/Yak_52__G-CBSS_FLAT_SPIN.jpg” thumb_width=”150″ /]Breaking News. Theranos has been slapped very soundly by the Centers for Medicare & Medicaid Services (CMS) for violations arising from operations at their Newark, California laboratory. The fine is not disclosed. CMS has revoked the lab’s certificate and also prohibits the owners and operators of the lab from operating a lab for at least two years. That means that Elizabeth Holmes, the CEO, her management and anyone immediately involved with the Newark lab is effectively out of a job. As the Theranos press release was issued well after hours Thursday night US Eastern Time, there’s no... Continue Reading
A weekend potpourri of health tech news: mergers, cyber-ransom, Obama as VC?
...American Well, spent over $150 million on HealthiestYou, a mobile patient engagement platform targeting small to mid-sized employers, mainly to get Teladoc into this group. HealthiestYou claimed to be at breakeven this year, with $8 million in revenue YTD. The deal was 15 times the company’s 2015 revenue. MedCityNews Finally no Unicorn Review would be complete without some Theranos news. The Cleveland Clinic‘s CEO has yet to hear from Ms Elizabeth Holmes on their generous offer to help test their lab machinery. Dr Toby Cosgrove thought it was “on its way”….and he’s “disappointed”. Did you check the mailroom? CNBC. House... Continue Reading
Unhappy endings? HealthSpot’s remains to Rite Aid, Theranos’ story to Hollywood
...Theranos its only DTC outlet. According to the Wall Street Journal, “In recent days, some Walgreens officials became more convinced that Theranos would face painful CMS sanctions, according to people familiar with the matter” to be decided in approximately two weeks according to another WSJ source. One awaits a new retail partnership or perhaps their own stores. (Search on ‘Walgreen Terminates Partnership With Blood-Testing Firm Theranos’ if paywalled) Also Forbes on why this makes any Theranos recovery even less likely. Will the Big Bad Drugstore Execs be the ‘black hats’ of Mr McKay’s story? Stay tuned…. TTA’s earlier Theranos stories.... Continue Reading
Nail in the coffin hammers home: Theranos voids, corrects 2 years of test results
...options. Siemens must be equally unhappy that its equipment was 1) miscalibrated by Theranos and 2) Theranos didn’t monitor test water purity; thus they have become inadvertently tainted. One must wonder if founder Ms Holmes is considering the fit and finish of orange turtlenecks, or residency in a country with no US extradition treaty. For the company, the flat spin above is likely non-recoverable. Sadly, Clipper Theranos will crash down on other, far more honest innovative companies lined up on the runway. Wall Street Journal (if paywalled, copy and search on the headline); Forbes, Ars Technica. Our Theranos dossier here.... Continue Reading
Is the clock at the funding pub pointing to ‘last call’? (Updated)
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2012/12/crystal-ball.jpg” thumb_width=”150″ /]And we were having such a good time! UPDATED Having ridden a few hype curves (in health tech and out–remember airline deregulation?) and with the bruises to prove it, this Editor believes that she can spot a Cracking Market at forty paces. The hands on the clock appear to be near closing time, even as we party on. After all, DTC telehealth is forecast to be $25 bn in the US by 2025 (GrandView Research), if we make it that far! Where are the sharp noises coming from? The continuing fail of unicorns like Theranos [TTA 4... Continue Reading
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