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Theranos is closing its blood test facilities and laying off hundreds of employees

In 2014, medical testing startup Theranos was valued at $9 billion after having developed a revolutionary blood test that only required a single drop per sample. After its results were found to be inaccurate, the company faced sanctions; its CEO Elizabeth Holmes was banned from operating labs for two years and her net worth revised from $4.5 billion to nothing. In an effort to cut its losses and regroup, the company is now closing its clinical labs and Theranos Wellness Centers in Arizona, California, and Pennsylvania.
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