The CBS news magazine “60 Minutes” recently broadcast a story about Theranos. We believe the story was misleading and incomplete, in part because it relied on sources who were not with the Company for long and lacked the experience to speak to the points they made. More important than the numerous factual inaccuracies, however, is the overall misimpression of Theranos that the story left.
Like many startups, Theranos began with grand ambitions. We had a complex goal to improve medical testing across a range of technologies, from software to chemistries to devices. In hindsight, we made progress but did not meet all of our expectations.
That said, our scientists and engineers have, over the course of 15 years, made real and (we hope) lasting advances in medical technology. We have a portfolio of more than 1,200 patents and applications that was recently judged by the Institute of Electrical and Electronics Engineers (IEEE) to be among the most valuable in the medical device space. And we feel strongly, now as much as ever, that our emphasis on rapid, cost-effective medical testing in distributed settings is the future of medicine (or even its present, as testing is now available in grocery stores and pharmaceutical chains).
We continue to believe that our ideas and inventions will contribute to advancing health care delivery around the world.