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July 29, 2015 3:03 AM ET

Health Care Technology

Company Overview of Theranos, Inc.

Company Overview

Theranos, Inc. operates as a consumer healthcare technology company. It specializes in the areas of oncology, pediatrics, and geriatrics. The company designs, develops, and manufactures systems that provide access to health information for the early detection and intervention of diseases; and conducts laboratory tests from blood, urine, fluid, solid, and other samples. It also provides a suite of tools for patients and doctors ranging from Websites to mobile applications. The company was founded in 2003 and is based in Palo Alto, California.

1601 South California Avenue

Palo Alto, CA 94304

United States

Founded in 2003

Phone:

650-838-9292

Fax:

650-838-9165

Key Executives for Theranos, Inc.

Founder, Chairman and Chief Executive Officer
President, Chief Operating Officer and Director
Vice President of Finance & Operations
Chief Creative Officer
General Counsel
Compensation as of Fiscal Year 2015.

Theranos, Inc. Key Developments

Theranos and AmeriHealth Caritas Announce National Strategic Partnership to Improve Health Care for the Underserved Population

Theranos Inc. and AmeriHealth Caritas announced a national strategic partnership to improve health outcomes by providing greater access to less invasive, more efficient diagnostic tests to Medicaid members and empowering them to fully engage with their physicians in their health care. The partnership represents the first time a Medicaid managed care organization will make Theranos’ innovative diagnostic tests available directly to underserved populations. The strategic partnership between Theranos and AmeriHealth Caritas signifies a shared commitment to bring groundbreaking health care technology to disadvantaged individuals and underserved communities who typically do not have access to these health care advancements. Working with Theranos, AmeriHealth Caritas members will be able to access more convenient, high quality, and less invasive clinician-directed laboratory testing, from a blood sample taken from a tiny finger stick or a micro-sample taken from traditional methods, eliminating the need for larger needles and numerous vials of blood required for most diagnostic laboratory testing. Results to Theranos’ laboratory tests are available more quickly – often in a matter of hours as opposed to days or weeks.

Theranos and Capital BlueCross Team Up to Provide Innovative, Low Cost, Accessible Lab Testing Services in Central Pennsylvania

Theranos, Inc. and Capital BlueCross announced a long-term partnership to introduce Theranos™ revolutionary technology and laboratory services across the region to Capital BlueCross members. The companies have been working together for the last several years to form a strategic partnership in which Theranos™ low-cost, high quality laboratory services will be introduced to Central Pennsylvania. The companies also intend to showcase the impact of Theranos™ services around lowering the cost of care in areas where costs for medical diagnostic testing are high due to the lack of availability of health care resources. Theranos, which received clearance of its lab technology from the FDA last week, is the first lab to publish all of its pricing, and all of its tests are at least 50% below the Medicare reimbursement rate. Theranos will make available its full menu of tests in Central Pennsylvania "from full fertility panels ($35) to simple cholesterol tests ($2.99). In addition to its pricing, Theranos delivers unparalleled transparency around the quality of its testing. As it develops new testing services, the company has committed to submit all of its laboratory-developed tests to FDA for review and approval, and is the only lab to publish and update test proficiency data and customer satisfaction metrics on its website. Theranos has already performed millions of tests since its launch and continues to provide full service labs and testing throughout Arizona and Palo Alto, California. Capital BlueCross reviewed the accuracy and quality of Theranos' systems, technology, science, processes and overall performance over several years.

Theranos, Inc. Receives U.S. Food and Drug Administration’s Clearance of its Test System and Test for Herpes Simplex 1 Virus IgG

Theranos, Inc. announced that it has received the U.S. Food and Drug Administration’s (FDA) clearance of its test system and test for herpes simplex 1 virus IgG. The FDA’s decision provides independent validation of Theranos’ patented finger stick and venous blood testing technology and the ground breaking Theranos System upon which the HSV-1 IgG test is run, as well as the approach that the company has supported for FDA review of Laboratory Developed Tests (LDTs). The FDA decision involved extensive review of the Theranos System. The FDA clearance includes the use of Theranos’ Nanotainer™ Tubes for tests run by this method, which allow samples to be collected from just a few drops of blood from a virtually painless prick of a patient’s finger. The Theranos System, including Theranos’ device, analytical software, and Nanotainer™ Tubes, has been fully validated and cleared for use with this test method. FDA’s review process for 510(k) notifications is widely recognized as one of the most rigorous regulatory hurdles in the world for evaluation of the performance, accuracy, and intended use of diagnostic tests. Today’s announcement demonstrates that Theranos has met that standard and is an important step in Theranos’ mission to make health information accessible to people at the time it matters, enabling early detection and prevention of disease, and empowering individuals everywhere with information to live healthier lives – a mission that depends on patients knowing they are getting results they can trust.

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