Walgreens Kills Relationship With Theranos
If the end of the line had not already come for Theranos, it got much closer as Walgreens Boots Alliance Inc. (NASDAQ: WBA) ended what was once one of the blood test company’s most important relationships.
The huge pharmacy company said:
Walgreens today announced that it has informed Theranos that it will be terminating its relationship and closing operations at all 40 Theranos Wellness Centers at its stores in Arizona, effective immediately. This follows the company’s decision in January to halt Theranos laboratory testing services at its Palo Alto, Calif., location, and means Walgreens will no longer offer Theranos services at any of its stores.
Walgreens said it will be working over the next several days to help transition customers.
“In light of the voiding of a number of test results, and as the Centers for Medicare and Medicaid Services (CMS) has rejected Theranos’ 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 Brad Fluegel, Walgreens Senior Vice President and Chief Health Care Commercial Market Development Officer.
The guessing has started about when Theranos will file for Chapter 11.