Blood-Testing Company Theranos is Shutting Down
Health technology company Theranos based in California that was once known as a high flying blood-testing start-up accused of cheating and betraying its investors is reportedly shutting down.
It is being stated that the company was not able to sell itself and is now looking to pay unsecured creditors its remaining cash of about $5 million in the coming months. A major portion of the employees already had their last day.
Theranos tries to sell itself, but, unfortunately, nobody was willing to acquire a company that has been disgraced and lost its investors nearly $1 billion. This move has come three months after the company’s founder and CEO, Elizabeth Holmes, along with former chief operating officer Ramesh Balwani were charged with criminal fraud.
They were accused of misleading ...