The news release issued when the Walgreens deal was announced said consumers “will be able to access less invasive and more affordable clinician-directed lab testing, from a blood sample as small as a few drops, or 1/1,000 the size of a typical blood draw.”
As part of the deal, Walgreens has invested at least $50 million into Theranos, according to people familiar with the matter.
It really blows my mind that Theranos was able to get this far with what sounds like technology that simply didn't work. Did any investors simply try the test(s) before investing vast sums of money?
The Walgreen's angle is much bigger. From what I've read online, they invested $50 million and built out all those in-store clinics based on Theranos. Add in the retail space and construction costs, and you're looking at real money.
As part of the deal, Walgreens has invested at least $50 million into Theranos, according to people familiar with the matter.
It really blows my mind that Theranos was able to get this far with what sounds like technology that simply didn't work. Did any investors simply try the test(s) before investing vast sums of money?