Theranos
How much did Betsy Devos (Education Secratary) family invest in Theranos?
$100 million
Theranos Lay offs, what month and how many employees got fired?
April 10th, Theranos went from 125 employees to 24 or less. Theranos had 800 Employees in 2015
Did Theranos blood tester work?
No, a vast majority of the tests was made by commercial analyzers from other companies
Which head-fund sued Theranos for fraud and did they get anything back?
Partner Fund Managemnt invested $96 million in early 2014, sued Theranos for fraud in 2016 and recieved a $43 million settlement
Largest Individual Investor in Theranos
Rupert Murdoch, invested $ 125 million in March 2015 and sold back his shares for $1 each in 2017 Recieved an additional $4 million from Theranos
Who was Elizabeth Holmes compared to?
Steve Jobs and Apple
How many people were on the board of directors at theranos?
12 including ms. holmes
Where was Theranos founded and by who?
2003 in Palo Alto, California by a 19 year old Elizabeth Holmes who had dropped out of Stanford
What did CMS do to Theranos and when did it get resolved?
CMS Banned Holmes from owning, operating or directing a diagnostic lab for two years in 2016 Theranos reached a settlement with CMS in April, 2017
Tyler Schults (whistle blower)
Grandson of former U.S Secratary of State, George Schultz First employee to blow the whistle
Where did the greatest damage go to by Theranos actions?
Public Health
What was Elizabeth Holmes named by Forbes in 2015?
The youngest self-made Billionaire in the world
What happened at the end of 2017 for Theranos?
Theranos got a $ 100 million loan to stay afloat but only recieved $65 million (If she wanted the remaining $35 million she had to reach certain goals such as approval from Food and Drug administration for a blood test to detect the Zika Virus.)
Holmes and Ramesh falsefied claim
Theranos portable blood analyzers were used by the Defense Department in Afghanistan and on medevac helicopters
Tim Draper
Venture Capitalist who was one of the first to invest in Theranos. Draper accused the WSJ author, John Carreyrou to have a vendetta against Holmes and that the investigation was a weird conspiracy Bachelor from Stanford and MBA from Harvard
What company terminated a business relationship with Theranos?
Walgreens; they had a 3-year parnership with Theranos and shut down 40 of their lab testing centers.
What investor are suffered from the biggest losses and how much did they invest?
Walton Family (Wal-Mart), invested $150 million
How much money did Theranos receive to start their company?
almost 900 million
What was the thomas edison deivice at theranos?
device used to automate and miniaturize blood tests using microscopic blood volumes.
What was Elizabeth Holmes afraid of?
needles
Did Ms. Holmes communicate well with her employees?
no
What were employees forced to sign while working at Theranos?
non disclosure agreements
What was unique about the board of directors at Theranos?
none of them were experts in the medical field but were well known political figures
Elizabeth Holmes Settlement with SEC on Fraud Charges
$500,000 Penalty fee Return all her 18.9 Million share Voting control for Theranos was taken away She can't serve as a officer or a board of director in any public company for 10 years.
What were the names and titles of the people on the board of Theranos?
1. Former Secretary of State Henry Kissinger, 2. Former Secretary of Defense Bill Perry, 3. Former Secretary of State George Shultz, 4. Former Senator Sam Nunn 5. Former Senator Bill Frist (who, it should be noted, is a surgeon), 6. Former Navy Admiral Gary Roughead, 7. Former Marine Corps General James Mattis, 8. Former CEO Dick Kovacevich of Wells Fargo and 9. Former CEO of Bechtel Riley Bechtel 10. Former epidemiologist—William Foege, 11. Executive, Sunny Balwani, who is Theranos' president and CEO 12. Elizabeth Holmes
How many blood tests did Theranos claim their analyzers could do and how many could it actually do?
240 and could not even do one
How long did Holmes and Ramesh "Sunny" Balwani run Theranos jointly?
7 Years until Ramesh retired in May, 2016
George Schultz
Former U.S Secratary of State Joined Theranos Board of Directors in July, 2011 after a 2 hour conversation with Holmes Graduated from Princeton PhD from MIT
What would happen if employees questioned Ms. Holmes edison device?
they would be fired immediately