Elizabeth Holmes, founder of the embattled blood-testing company, says the company will focus on creating miniature medical testing machines. - From http://www.nytimes.com/2016/10/06/business/theranos-to-close-labs-and-lay-off-340-workers.html?partner=rss&emc=rss&smid=tw-nytimes&smtyp=cur
5, 2016 Theranos, the embattled blood-testing company, announced on Wednesday that it would close its laboratory operations, shutter its wellness centers and lay off about 340 employees, around 40 percent of its work force.
In a letter posted to the company’s website, Elizabeth Holmes, the company’s founder and chief executive, said the company would now focus on an initiative to create miniature medical testing machines.
She instead said that the company would develop miniature laboratories, or miniLabs, small devices that could be placed on a table in a doctor’s office and be used to perform numerous medical tests.
Holmes said Theranos would “return our undivided attention to our miniLab platform,” which she described as the production of “miniaturized, automated laboratories capable of small-volume sample testing.” The decision to abandon its clinical labs is the latest setback for Ms.
Holmes appeared to try to address concerns that Theranos was overly secretive about its technology, as well as the skepticism among many of the scientists who saw her presentation in August.