PALO ALTO, Calif.--(BUSINESS WIRE)--Theranos, Inc. announced today an agreement with the Arizona Attorney
General’s office whereby the company will reimburse Arizona residents
for all amounts they paid for Theranos blood testing services between
2013 and 2016. Theranos agreed to return $4.65 million to Arizona
consumers, which reflects all amounts paid by Arizona consumers for
Theranos tests, regardless of whether Theranos received payment for the
tests, or whether the test results were voided or corrected.
Theranos said that including all consumers who had tests over that time
period demonstrated the company’s commitment to resolving the issue
amicably on behalf of Arizonans and working collaboratively with state
With the agreement, both parties intend to resolve all existing or
potential claims against Theranos, which settled the matter without any
admission of liability.
The company also affirmed that it will not own or operate a
CLIA-licensed laboratory in Arizona for two years, commencing March 28,
2017, and will pay the attorney general’s office $200,000 in civil
penalties and $25,000 in attorneys’ fees and other legal costs.
Founded in 2003 by Elizabeth Holmes, Theranos, Inc. is a health
technology company headquartered in Palo Alto, Calif. Its proprietary
miniLab platform is designed to enable earlier disease detection and
intervention by facilitating low-cost, small-sample collection, testing,
and rapid communication of diagnostic information in distributed
settings. To learn more about Theranos, visit www.theranos.com.
Tali Mackay, 650-546-2321