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Theranos People
Theranos Inc. () was an American privately held corporation that was touted as a breakthrough health technology company. Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. The company claimed that it had devised blood tests that required very small amounts of blood and that could be performed rapidly and accurately, all using compact automated devices which the company had developed. These claims were later proven to be false. A turning point came in 2015, when medical research professor John Ioannidis, and later Eleftherios Diamandis, along with investigative journalist John Carreyrou of ''The Wall Street Journal'', questioned the validity of Theranos's technology. The company faced a string of legal and commercial challenges from medical authorities, investors, the U.S. Securities and Exchange Commission (SEC), the Cent ...
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Privately Held Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or Over-the-counter (finance), over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their public company, publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on ...
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Health Technology
Health technology is defined by the World Health Organization as the "application of organized knowledge and skills in the form of devices, medicines, vaccines, procedures, and systems developed to solve a health problem and improve quality of lives". This includes pharmaceuticals, devices, procedures, and organizational systems used in the healthcare industry, as well as computer-supported information systems. In the United States, these technologies involve standardized physical objects, as well as traditional and designed social means and methods to treat or care for patients. Development Pre-digital Era During a pre-digital era, patients suffered from inefficient and faulty clinical systems, processes, and conditions. Many medical errors happened in the past due to undeveloped health technologies. Some examples of these medical errors included adverse drug events and alarm fatigue. Alarm fatigue is caused when an alarm is repeatedly triggered or activated and one becomes d ...
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Pharmacy Times
Pharmacy is the science and practice of discovering, producing, preparing, dispensing, reviewing and monitoring medications, aiming to ensure the safe, effective, and affordable use of medicines. It is a miscellaneous science as it links health sciences with pharmaceutical sciences and natural sciences. The professional practice is becoming more clinically oriented as most of the drugs are now manufactured by pharmaceutical industries. Based on the setting, pharmacy practice is either classified as community or institutional pharmacy. Providing direct patient care in the community of institutional pharmacies is considered clinical pharmacy. The scope of pharmacy practice includes more traditional roles such as compounding and dispensing of medications. It also includes more modern services related to health care including clinical services, reviewing medications for safety and efficacy, and providing drug information. Pharmacists, therefore, are experts on drug therapy and are ...
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Wired (magazine)
''Wired'' (stylized as ''WIRED'') is a monthly American magazine, published in print and online editions, that focuses on how emerging technologies affect culture, the economy, and politics. Owned by Condé Nast, it is headquartered in San Francisco, California, and has been in publication since March/April 1993. Several spin-offs have been launched, including '' Wired UK'', ''Wired Italia'', ''Wired Japan'', and ''Wired Germany''. From its beginning, the strongest influence on the magazine's editorial outlook came from founding editor and publisher Louis Rossetto. With founding creative director John Plunkett, Rossetto in 1991 assembled a 12-page prototype, nearly all of whose ideas were realized in the magazine's first several issues. In its earliest colophons, ''Wired'' credited Canadian media theorist Marshall McLuhan as its "patron saint". ''Wired'' went on to chronicle the evolution of digital technology and its impact on society. ''Wired'' quickly became recognized ...
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Lab-on-a-chip
A lab-on-a-chip (LOC) is a device that integrates one or several laboratory functions on a single integrated circuit (commonly called a "chip") of only millimeters to a few square centimeters to achieve automation and high-throughput screening. LOCs can handle extremely small fluid volumes down to less than pico-liters. Lab-on-a-chip devices are a subset of microelectromechanical systems (MEMS) devices and sometimes called "micro total analysis systems" (µTAS). LOCs may use microfluidics, the physics, manipulation and study of minute amounts of fluids. However, strictly regarded "lab-on-a-chip" indicates generally the scaling of single or multiple lab processes down to chip-format, whereas "µTAS" is dedicated to the integration of the total sequence of lab processes to perform chemical analysis. The term "lab-on-a-chip" was introduced when it turned out that µTAS technologies were applicable for more than only analysis purposes. History After the invention of microtechnolo ...
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Stanford University
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is considered among the most prestigious universities in the world. Stanford was founded in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Leland Stanford was a U.S. senator and former governor of California who made his fortune as a railroad tycoon. The school admitted its first students on October 1, 1891, as a coeducational and non-denominational institution. Stanford University struggled financially after the death of Leland Stanford in 1893 and again after much of the campus was damaged by the 1906 San Francisco earthquake. Following World War II, provost of Stanford Frederick Terman inspired and supported faculty and graduates' entrepreneu ...
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Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ...
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Centers For Medicare And Medicaid Services
The Centers for Medicare & Medicaid Services (CMS), is a federal agency within the United States Department of Health and Human Services (HHS) that administers the Medicare program and works in partnership with state governments to administer Medicaid, the Children's Health Insurance Program (CHIP), and health insurance portability standards. In addition to these programs, CMS has other responsibilities, including the administrative simplification standards from the Health Insurance Portability and Accountability Act of 1996 (HIPAA), quality standards in long-term care facilities (more commonly referred to as nursing homes) through its survey and certification process, clinical laboratory quality standards under the Clinical Laboratory Improvement Amendments, and oversight of HealthCare.gov. CMS was previously known as the Health Care Financing Administration (HCFA) until 2001. CMS actively inspects and reports on every nursing home in the United States. This includes maintaini ...
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John Carreyrou
John Carreyrou () is a French-American journalist and writer who worked for ''The Wall Street Journal'' for 20 years between 1999 and 2019 and has been based in Brussels, Paris, and New York City. He won the Pulitzer Prize twice and is well known for having exposed the fraudulent practices of the multibillion-dollar blood-testing company Theranos in a series of articles published in ''The Wall Street Journal''. Early life and career John Carreyrou was born to French journalist Gérard Carreyrou and an American mother. He grew up in Paris. Carreyrou graduated from Duke University in 1994 with a B.A. in political science and government. After graduation, he joined the Dow Jones Newswires. In 1999, he joined ''The Wall Street Journal Europe'' in Brussels. In 2001, he moved to Paris to cover French business and other topics such as terrorism. In 2003, he was appointed the deputy bureau chief for Southern Europe. He covered French politics and business, Spain, and Portugal. By 20 ...
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Eleftherios Diamandis
Eleftherios Phedias Diamandis (born October 8, 1952) is a Greek Cypriot-Canadian biochemist who specializes in clinical chemistry. He is Professor & Head of Clinical Biochemistry in the Department of Laboratory Medicine and Pathobiology at the University of Toronto in Toronto, Ontario, Canada. He is also Division Head of Clinical Biochemistry at Mount Sinai Hospital and Biochemist-in-Chief at the University Health Network, both of which are also located in Toronto. Honors and awards Diamandis is a member of the Academy of Athens and the Royal Society of Canada. He is also a fellow of the American Association for the Advancement of Science, the Canadian Academy of Health Sciences, and the Royal College of Physicians and Surgeons of Canada. From the American Association for Clinical Chemistry, he has received the Morton K. Schwartz Award for Significant Contributions in Cancer Research Diagnostics, among other awards; he is also a member of the Association's Hall of Fame. Thera ...
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John Ioannidis
John P. A. Ioannidis (; el, Ιωάννης Ιωαννίδης, ; born August 21, 1965) is a Greek-American physician-scientist, writer and Stanford University professor who has made contributions to evidence-based medicine, epidemiology, and clinical research. Ioannidis studies scientific research itself, meta-research primarily in clinical medicine and the social sciences. He has served on the editorial board of over twenty scientific journals. Ioannidis's 2005 essay "Why Most Published Research Findings Are False" was the most-accessed article in the history of Public Library of Science (PLOS) as of 2020, with more than three million views. Ioannidis has been a prominent opponent of masks and lockdowns during the COVID-19 pandemic. Early life and education Born in New York City in 1965, Ioannidis was raised in Athens, Greece. He was valedictorian of his class at Athens College, graduating in 1984, and won a number of awards, including the National Award of the Greek Mathema ...
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Blood Test
A blood test is a laboratory analysis performed on a blood sample that is usually extracted from a vein in the arm using a hypodermic needle, or via fingerprick. Multiple tests for specific blood components, such as a glucose test or a cholesterol test, are often grouped together into one test panel called a blood panel or blood work. Blood tests are often used in health care to determine physiological and biochemical states, such as disease, mineral content, pharmaceutical drug effectiveness, and organ function. Typical clinical blood panels include a basic metabolic panel or a complete blood count. Blood tests are also used in drug tests to detect drug abuse. Extraction A venipuncture is useful as it is a minimally invasive way to obtain cells and extracellular fluid ( plasma) from the body for analysis. Blood flows throughout the body, acting as a medium that provides oxygen and nutrients to tissues and carries waste products back to the excretory systems for disposal. Co ...
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