Theranos
Defunct American health technology company
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| May 30 2023 | Holmes began serving her prison sentence at Federal Prison Camp in Bryan, Texas. |
| December 2022 | Sunny Balwani was sentenced to 12 years and 11 months in prison and 3 years of probation for fraud. |
| November 2022 | Elizabeth Holmes was sentenced to 11 years and 3 months in prison for fraud. |
| July 2022 | Sunny Balwani was convicted on all 12 counts of fraud brought against him. |
| March 2022 | Ramesh 'Sunny' Balwani's trial began. |
| March 2022 | Hulu premiered 'The Dropout' miniseries internationally, featuring Amanda Seyfried portraying Elizabeth Holmes. |
| January 3 2022 | Elizabeth Holmes was found guilty of four counts of wire fraud and one count of conspiracy to commit wire fraud. |
| February 2021 | Federal prosecutors accused Holmes and other Theranos executives of destroying evidence related to internal testing, including accuracy and failure rates of their blood-testing systems. |
| March 2019 | HBO released 'The Inventor: Out for Blood in Silicon Valley', a documentary film about Holmes and Theranos, following its debut at the Sundance Film Festival. |
| January 2019 | ABC News Nightline released a podcast and documentary called 'The Dropout' about Elizabeth Holmes and Theranos. |
| 2018 | Elizabeth Holmes ends her tenure as Theranos CEO, concluding her leadership of the company. |
| September 2018 | Final liquidation of the company, rendering major investments by Walton family, Rupert Murdoch, Betsy DeVos, Cox family, and Larry Ellison worthless. |
| September 12 2018 | Theranos transferred its patents to Fortress Investment Group in exchange for distributing remaining cash assets to creditors. |
| September 4 2018 | Theranos officially announced it would cease operations and release its assets to creditors after failing to find a buyer. |
| August 31 2018 | Most of Theranos's employees were laid off, signaling the company's imminent collapse. |
| June 15 2018 | Holmes and Balwani were indicted on multiple counts of wire fraud and conspiracy to commit wire fraud, alleging they defrauded investors, doctors, and patients by concealing the unreliability of their products. |
| May 2018 | John Carreyrou published 'Bad Blood: Secrets and Lies in a Silicon Valley Startup', a book exposing Theranos and its practices. |
| May 2018 | John Carreyrou reported that business and government leaders lost more than $600 million in private investments in Theranos. |
| April 10 2018 | The company laid off the majority of workers in a renewed bid to avoid bankruptcy, reducing total headcount to fewer than 25 employees from a peak of 800. |
| March 2018 | US Securities and Exchange Commission filed civil fraud charges against Theranos, Elizabeth Holmes, and Ramesh 'Sunny' Balwani for an 'elaborate, years-long fraud' involving misleading claims about their portable blood analyzer. |
| 2017 | Theranos vacated its Page Mill Road headquarters in Palo Alto, consolidating remaining staff into its Newark, California laboratories while still denying publicly reported fraud. |
| June 2017 | Theranos reported settling the Walgreens lawsuit for less than $30 million, down from the original $140 million damages sought. |
| May 2017 | Participating shareholders provided a release of potential claims in exchange for new preferred stock shares, with over 99% of shareholders participating. |
| April 2017 | Theranos reached a settlement with CMS agreeing to stay out of the blood-testing business for at least two years in exchange for reduced penalties. |
| January 2017 | Theranos laid off a further 41% of its workforce (approximately 155 people) and closed its last remaining blood-testing facility after failing a second major U.S. regulatory inspection. |
| January 2017 | James Mattis resigns from the Theranos board. |
| 2016 | Forbes revised the company's estimated net worth to $800 million. |
| December 2016 | Theranos announces management team restructuring with Riley Bechtel's departure. |
| November 2016 | Announcement made that the board of counselors would be scrapped in January 2017. |
| November 2016 | Walgreens filed a breach of contract lawsuit against Theranos in federal court in Delaware. |
| October 2016 | Theranos announced it would close its laboratory operations and wellness centers and lay off about 40% of its workforce. |
| August 2016 | Theranos introduced a new robotic capillary blood testing unit called 'miniLab' at the annual meeting of the American Association for Clinical Chemistry, without presenting supporting data for the device's claimed capabilities. |
| June 2016 | Walgreens terminated its partnership with Theranos. |
| June 2016 | Forbes reported that Elizabeth Holmes's personal net worth had dropped from $4.5 billion to effectively zero. |
| May 2016 | Ramesh Balwani leaves his position as president and COO of Theranos. |
| May 2016 | Theranos announced that it had voided two years of results from its Edison device. |
| April 2016 | Theranos announces its medical advisory board, including prominent experts from clinical and medical fields. |
| March 2016 | A scientific study authored by 13 scientists was published in the Journal of Clinical Investigation, critically highlighting significant flaws in Theranos' blood test results, including higher rates of measurements outside normal ranges and notable test result variability. |
| February 2016 | Theranos announced it would permit the Cleveland Clinic to complete a validation study of its technology, attempting to verify the accuracy of its blood testing methods. |
| January 2016 | Centers for Medicare and Medicaid Services (CMS) sent a letter to Theranos reporting that its Newark, California lab caused 'immediate jeopardy to patient health and safety'. |
| 2015 | Theranos was named 2015 Bioscience Company of the Year by the Arizona BioIndustry Association (AzBio). |
| 2015 | Safeway terminated its partnership with Theranos after missed deadlines and questionable trial results. |
| October 2015 | John Carreyrou of The Wall Street Journal reported that Theranos was using traditional blood testing machines instead of their Edison devices, and that the Edison machines might provide inaccurate results. |
| October 2015 | GlaxoSmithKline and Pfizer confirmed no active projects with Theranos, despite previous blood test usage. |
| September 2015 | The Arizona Department of Health Services reported issues with the company's Scottsdale lab meeting regulations. |
| July 2015 | FDA approved Theranos' fingerstick blood testing device for herpes simplex virus (HSV-1) testing outside clinical laboratories. |
| July 2015 | Theranos became the lab-work provider for Pennsylvania insurers AmeriHealth Caritas and Capital Blue Cross. |
| May 2015 | University of Toronto Professor Eleftherios Diamandis analyzed Theranos technology and concluded that most of the company's claims were exaggerated. |
| March 2015 | Cleveland Clinic announced a partnership with Theranos to test its technology and reduce lab test costs. |
| February 2015 | Stanford professor John Ioannidis published a critique in the Journal of the American Medical Association, stating that no peer-reviewed research from Theranos had been published in medical research literature. |
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