The journalists of the Wall Street Journal caught health startup Theranos in falsification of research results

October 15, 2015, edition of the Wall Street Journal published an article accusing famous American company Theranos in falsification of research results. According to several former employees of a startup medical technology developed by its founder, is not yet able to ensure that all research conducted by the organization. According to sources of the edition, actually Edison machine (a device used in Theranos for testing), can accurately determine the results only 15 studies of more than 240, as stated on the companys website — which is slightly more than 6%. For the remaining tests, according to a former employee, interviewed the editorial of the Wall Street Journal, the company uses conventional mechanisms that are used in “traditional” laboratories and clinics.

The companys representatives in comments to The Wall Street Journal has refuted the received information to journalists, but refused to tell exactly how much of the various studies is able to produce the equipment used in the laboratory of a startup, citing trade secrets. They also noted that the organization does not exaggerate its own successes. Theranos freelance lawyer David boies, however, confirmed that the company does not yet uses proprietary technology to conduct all the studies that can be ordered by the patient — but by all means seek to do so. In addition, as it became known edition of the Wall Street Journal, while carrying out some tests employees Theranos compared the results obtained using the Edison machine and all the usual equipment — and, as it turned out, not in all cases, the equipment Theranos gave accurate results.

It was decided to use standard equipment, but it could not work with such a small amount of blood. Employees the company had taken to dilute to achieve desired volume — thus, according to the source The Wall Street Journal, the company holds about 60 studies. Representatives of Theranos has denied all allegations of former employees, published. The company believes that all of these employees really have not delved into the principles of Theranos, or just have a grudge against the company. According to representatives of the organization, start-up “presented the editorial to The Wall Street Journal more than 1,000 pages of documents proving they were wrong sources” and the journalists just didnt bother to learn them.

@KulkarniApoorv @WSJhealth How disappointing. Full of falsehoods. We even offered to show them our technology, and they declined. The editors of Forbes believes that to avoid such hassles in the future, the companys management should first review their own views to talk with the press and customers. During an interview for Forbes Elizabeth Holmes, according to the editorial, stressed that the company issues often arise among competitors, “who want to compromise your startup in the press.”.

In this case, said the editor who conducted the interview, no response to our questions he never heard only the accusations against competitors: Great companies do not experience paranoia because of the machinations of rivals. They care about only their own product. Elizabeth Holmes — founder of a startup Theranos and the youngest female billionaire in the tech industry.

Her company is engaged in conducting medical research and analysis using our own unique technology, which allows about 240 different tests, with very small volume of biomaterial — just a few drops of blood. Conventional medical institutions take the patients blood by syringe and its much more than method, invented by Holmes. Technology Theranos, according to the entrepreneurs, not only more efficient, but much cheaper than the analogs. How does the accuracy and low cost, the startup keeps a secret.

The company has already attracted more than $400 million in venture investment, and the startup is estimated at $9 billion.

Source: google.co.uk/blog/what-startup-consultant-can-and-can-t-do-for-your-startup/

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