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    Theranos Company Background

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    Christine Cute
    Theranos was a health technology company founded in 2003 by Elizabeth Holmes when she was 19 years old. It claimed to have developed technology that could perform dozens of blood tests using only small samples, such as from a finger prick, much faster and cheaper than traditional labs. The company raised over $700 million from investors, reaching a peak valuation of $10 billion. However, the accuracy and capabilities of Theranos' technology were later called into question.

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    Theranos Company Background

    Uploaded by

    Christine Cute
    159 views2 pages
    Theranos was a health technology company founded in 2003 by Elizabeth Holmes when she was 19 years old. It claimed to have developed technology that could perform dozens of blood tests using only small samples, such as from a finger prick, much faster and cheaper than traditional labs. The company raised over $700 million from investors, reaching a peak valuation of $10 billion. However, the accuracy and capabilities of Theranos' technology were later called into question.

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    Theranos was a health technology company founded in 2003 by Elizabeth Holmes when she was 19 years old. It claimed to have developed technology that could perform dozens of blood tests using only small samples, such as from a finger prick, much faster and cheaper than traditional labs. The company raised over $700 million from investors, reaching a peak valuation of $10 billion. However, the accuracy and capabilities of Theranos' technology were later called into question.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    159 views2 pages

    Theranos Company Background

    Uploaded by

    Christine Cute
    Theranos was a health technology company founded in 2003 by Elizabeth Holmes when she was 19 years old. It claimed to have developed technology that could perform dozens of blood tests using only small samples, such as from a finger prick, much faster and cheaper than traditional labs. The company raised over $700 million from investors, reaching a peak valuation of $10 billion. However, the accuracy and capabilities of Theranos' technology were later called into question.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Theranos

    Company Background
    Theranos which derived from the word “therapy” and “diagnosis” was a privately
    held health technology corporation based on America. It was initially touted as a
    breakthrough technology company, with claims to have revolutionized blood testing.
    The company offers more than 240 tests, ranging from cholesterol to cancer that
    requires only a very small amounts of blood, such as from a finger prick and could be
    performed using small automated devices the company had developed within just a
    short period of time compared to the traditional blood testing that may take longer hours
    up to several days to get the results. Holmes believes that providing faster, more
    convenient, and cheaper access to lab tests will transform preventive medicine. At
    Theranos, they never charges more than half the rate set by Medicare for blood tests
    which is really way cheaper. For an instance, a test for HIV which cost more than $80,
    at Theranos, they only charges $16.56.
    The company was founded in 2003 when Elizabeth Holmes is just 19 years old. In 2013
    and 2014, Theranos soared in valuation that raised more than US$700 million from
    venture capitalists and private investors, resulting in a $10 billion valuation at its peak.
    Theranos headquarter was in Palo Alto, California and had laboratories in Newark,
    California and Scottsdale, Arizona.

    Elizabeth Anne Holmes was an American businesswoman who was born February 3,


    1984 in Washington, D.C. She was the founder and CEO of Theranos, a health
    technology company that aims to revolutionized blood testing.
    In 2002, she attended Stanford's School of Engineering, where she took chemical
    engineering. Then she worked as a student researcher and a laboratory assistant in
    the School of Engineering. By the time she got in in Stanford, Holmes knew she wanted
    to devote her life working in on health care. At Stanford, she'd been exploring lab-on-a-
    chip technology, which allows diverse results to be extracted from a minuscule amount
    of liquid on a microchip. She became a “president’s scholar” during her freshman year
    which came with a $3,000 allowance for her research project. After the end of her
    freshman year, during summer, Holmes started working in a laboratory at the Genome
    Institute of Singapore and tested for severe acute respiratory syndrome
    coronavirus (SARS-CoV-1) by collecting blood samples with syringes.
    In 2003, she then filed her first patent application for a “medical device for analyte
    monitoring and drug delivery” a wearable drug-delivery patch that would administer
    medication, monitor’s patients’ blood, adjust the dosage needed and update doctors
    wirelessly.
    In March 2004, she dropped out of Stanford's School of Engineering and used her
    tuition money as her capital fund for a consumer healthcare technology company.
    Holmes named her company “Real-Time Cures” and it is located in Palo Alto, California
    to "democratize healthcare" she said. According to Holmes, her fear of needles is what
    drives her to perform blood tests by only using a small amounts of blood. When Holmes
    initially pitched this idea of "vast amounts of data from a few droplets of blood derived
    from the tip of a finger" to her medicine professor at Stanford, Phyllis Gardner, he
    responded with "I don't think your idea is going to work", explaining how it was
    impossible to accomplish despite Holmes claiming that it could be done. Aside from
    Gardner, several other expert medical professors told Holmes the same exact
    thing. However, Holmes did not allow their opinions to stop her from believing that it was
    possible. Later on, she succeeded in getting her advisor and dean at the School of
    Engineering, Channing Robertson, to back up her idea.

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