Theranos Reaches Settlement With Walgreens
PALO ALTO, Calif. – [August 1, 2017] – Theranos, Inc. announced today that it has entered a confidential settlement agreement with Walgreen Co. and Walgreens Boots Alliance, Inc., resolving all claims among those parties. The agreement will result in the dismissal of Walgreens’ lawsuit against Theranos, with no finding or implication of liability.
Over the past 16 months, the Company has built a new senior management team, changed the composition and structure of its Board of Directors, installed an expert technology and scientific advisory board, and implemented a new quality and compliance program. Theranos recently closed on a recapitalization of its recent investors, unifying their support as the Company moves toward commercializing its innovative technologies.
ABOUT THERANOS
Founded in 2003 by Elizabeth Holmes, Theranos, Inc. is a health technology company headquartered in Palo Alto, Calif. Its proprietary miniLab platform is designed to enable earlier disease detection and intervention by facilitating small-sample collection, testing and rapid communication of diagnostic information in distributed settings. To learn more about Theranos, visit www.theranos.com.
