The troubled blood-testing start-up Theranos said Wednesday that it was shutting its labs and patient testing centers, a move that will cause 340 employees, or about 40% of its workforce, to lose their jobs. The last year has been devastating for the company and Holmes, which Forbes had once called the youngest self-made female billionaire. Walgreens said in June that it was ending its deal with Theranos to put blooding testing sites in its drugstores -- a plan that had started with 40 Theranos blood-testing sites at its stores in Arizona. The company now faces lawsuits brought by patients and a number of investigations. “We are fortunate to have supporters and investors who believe deeply in our mission of affordable, less invasive lab testing, and to have the runway to realize our vision,” Holmes wrote.

Source: Los Angeles Times October 06, 2016 01:30 UTC