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Theranos closes its labs and wellness centers, lays off 340


Stashed in: Theranos

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"The company pivoted away from working on its closely held “nanotainer” technology to a “miniLab” in August. The boxy device — unveiled at the American Association for Clinical Chemistry conference — collects small samples of blood and urine and then uploads them to a centralized system for further analysis.

And it’s a far cry from what the company, once valued at $9 billion, set out to do. According to several experts whom TechCrunch spoke to at the unveiling, it might not be very innovative, either. Although Theranos didn’t want its new device referred to as a “lab on a chip,” that’s essentially what these experts said the miniLab was. And that has been done.

The new device hinges largely on FDA approval — something Holmes said she’d hoped to fast-track under the emergency use authorization (EUA) for Zika detectors. That plan didn’t go so well, however. The FDA denied Theranos approval after finding the company failed to use proper patient safety protocols."

miniLab is a medical data processing product:

http://businessinsider.com/theranos-ceo-elizabeth-holmes-announces-closure-of-clinical-labs-2016-10

So I guess they won't be revolutionizing blood tests in the future. 

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