Release date: 2014-06-24
With a medical technology that enables faster, cheaper and more accurate detection of blood, Elizabeth Holmes has become a billionaire.
Holmes founded Theranos in Palo Alto, Calif., with a sum of money saved at college, and she has been the San Francisco Business Times and The Wall Street Journal. Wall Street Journal and the full-length coverage of Wired magazine. However, Fortune reported recently that Theranos has raised more than $400 million, making the ten-year-old company worth $9 billion. The company's investors include Draper Fisher Jurvetson, ATA Ventures and Oracle founder Larry Ellison. In an interview with Fortune, Holmes said she still holds more than 50% of the shares of Theranos. The company has not responded to the report. An investor at Theranos, although not allowed to disclose details due to a confidentiality agreement, said that the valuation of the financing was very high.
Although Theranos does not disclose its revenue, its $9 billion valuation is comparable to the two largest commercial medical laboratories in the United States, Quest Diagnostics and US Holding Labs. (Laboratory Corporation of America Holdings). The current market capitalization of the latter two is $8.5 billion. However, this situation is not new in Silicon Valley. The valuation of Uber, a disruptive private transportation service provider, exceeds the market value of Hertz and Avis.
Walgreen, the largest retail pharmacy in the United States, has more than 8,100 chain pharmacies and announced plans to set up the Theranos Welfare Center in its pharmacy last September. So far, there are 21 such centers, one in Palo Alto and the other 20 in Arizona. In addition, organizations such as the UCSF Medical Center, Dignity Health, and Intermountain Healthcare have signed up with Theranos to deploy its services in their medical facilities and facilities. At the same time, the company is also working with pharmaceutical companies to quickly provide blood test results in clinical trials, which has also become a source of revenue.
The former Stanford University student not only formed a "star-studded" board of directors, members George Shultz and Henry Kissinger. In an interview with Fortune, she also said that her mission is to “sell this healthcare experience... to get actionable information at critical times.†Holmes described the acquisition of this information as Compared with the past, people can conduct blood tests more clearly, more conveniently and more affordablely. It is equally important to have patients get their blood test results directly. In April last year, a government regulation that allowed patients to view test results without their doctor's authorization came into effect.
With its fast, low-cost product offerings and the mission of improving patient experience, Theranos will have the opportunity to subvert this.
Source: Zina Moukheiber
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