Theranos, Inc. is a consumer healthcare technology company. Its clinical laboratory offers comprehensive laboratory tests from samples as small as a few drops of blood at very low prices.
The company recently announced a long-term partnership to bring access to Theranos’ new lab testing service through Walgreens pharmacies nationwide. As the service becomes available through Theranos Wellness Centers inside Walgreens stores, consumers will be able to access less invasive and more affordable clinician-directed lab testing, from a blood sample as small as a few drops, or 1/1,000 the size of a typical blood draw. The samples are either 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 lab testing.
Theranos and Walgreens are taking the first step in making this service available to consumers with the first Theranos Wellness Center location at a Walgreens drugstore at 300 University Ave. in Palo Alto, Calif., in the heart of Silicon Valley. The companies plan to offer the service at Walgreens locations nationwide.
This makes Theranos an interesting investment. But what is really intriguing about this company is the senior major league insiders that sit on the board.
Among the board members are
George P. Shultz-Former Secretary of Treasury and the State Dept.
Richard Kovacevich- who served as the Chief Executive Officer of Wells Fargo & Company from 1998–2007 and Chairman of the Board from 2001-2009.
William Perry- Former Secretary of Defense
Riley P. Bechtel-Chairman of the Board and a Director of Bechtel Group, Inc
Bill Frist-, former U.S. Senate Majority Leader
Samuel Nunn- who served as a United States Senator from Georgia for twenty-four years and as Chairman of the Senate Armed Services Committee
These guys don't play around. As Kissinger put it in an interview with USA Today when commenting on Theranos CEO Elizabeth Holmes:
"We aren't exactly a group of people who give away our time lightly," Kissinger says with a laugh. "But we are impressed with her commitment to lowering health costs and bring this advance to developing nations. Elizabeth may make a lot of money, but that is not her motivation."A blood diagnostic company this may be, but with this crowd involved something else is probably up. Perhaps, Kissinger gave it away when he mentioned the tests will "bring this advance to developing nations." Could this mean it is a scam to siphon UN and WHO money for the test? If that is the extent of the scam, my guess is the US citizenry will get off fairly lightly, with just a few dollars from each taxpayer ending up in the pockets of Kissinger, Schultz, Bechtel et al. But with this group they seem to enjoy rubbing in an extra layer of evil. Theranos needs to be monitored closely.
Kissinger adds that board meetings often last all day, with conversations continuing into cocktail hours afterward.
Robert Wenzel is Editor & Publisher of EconomicPolicyJournal.com and author of The Fed Flunks: My Speech at the New York Federal Reserve Bank.
(ht Robert Blumen and Derek Au)
Major Theranos Scandal Brewing; Henry Kissinger Involvement