Theranos, a start-up that promises innovative technology to more quickly and easily perform laboratory tests, was recently questioned by the Wall Street Journal about whether or not it is performing well. Patrick Mahony explains this technology and his assessment of it.
The Wall Street Journal very recently published an article that questioned the validity of the start-up company Theranos. Theranos, headed by 31-year-old billionaire Elizabeth Holmes, professes that it is capable of using groundbreaking technology to perform 240 laboratory tests (from anemia to cancer) with just a few drops of blood and a tiny vial. The start-up is worth an estimated $9 billion, and has attracted upwards of $40 million from investors who believe that the technology will replace the traditional laboratory tests.
However, the Wall Street Journal questioned whether or not Theranos is performing up to its self-proclaimed standards. According to reports at the Wall Street Journal, Theranos has only used the Edison, its novel blood-testing machine, for 15 of 200 tests, and that it used traditional machines for the remaining tests. In contrast to these claims, Holmes reports that her technology has proven to be accurate, inexpensive, easy, and delivers results quickly. Holmes has promised that her technology does work correctly, that doctors approve of it and recommend it to patients, and that they are using it and will continue to increase the percentage of tests completed by the Edison versus traditional machines as they continually improve the technology. Patrick Mahony thinks that this is truly an important technology that could save many lives as long as Theranos continues to use its revolutionary machine.