Walgreens Boots Alliance Inc (WBA) Finally Cuts All Ties With Theranos

WBA will close all 40 Theranos blood-testing centers

Walgreens Boots Alliance Inc (WBA) announced on Sunday that it has finally kicked Theranos to the curb.

Walgreens, WBA, TheranosWalgreens said that it’s terminating its relationship with Theranos and that it is immediately closing down all 40 of the Theranos Wellness Centers located in its stores in Arizona. It will be working to help customers transition from the service over the next few days.

“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,” Brad Fluegel, Walgreens Senior Vice President and Chief Health Care Commercial Market Development Officer, said in a statement.

Walgreens halted plans to open more Theranos blood-testing centers late last year following an article from The Wall Street Journal that claimed it didn’t use its own blood-testing machines on its customers. This caught the attention of federal regulators and started an investigation into the company.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/06/walgreens-wba-theranos/.

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