Walgreens has terminated its three-year partnership with blood analysis startup Theranos, citing the myriad bad test results and an on-going federal investigation as the reason for ending the relationship effective immediately.
Theranos promised the drugstore chain it could detect hundreds of diseases using just one drop of blood – a promise which turned out to be too good to be true after an inquiry from the Centers for Medicare & Medicaid Services CMS and an FDA inspection cast doubts on its technology.
Walgreens officials released a statement late Sunday saying it had told Theranos it was now severing the partnership and shutting down lab testing at all 40 Theranos blood draw locations within Arizona.
In light of the voiding of a number of test results, and as the Centers for Medicare and Medicaid Services has rejected Theranos s plan of correction and considers sanctions, we have carefully considered our relationship with Theranos and believe it is in our customers best interests to terminate our partnership, said Walgreens senior VP and chief healthcare commercial market development officer Brad Fluegel.
Of Course, Theranos is still under an on-going investigation, which could affect it even further.
Quality and safety are our top priorities and we are working closely with government officials to ensure that we not only comply with all federal regulations but exceed them, said Theranos spokesperson Brooke Buchanan.