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Safeway Ends Med-Tech Services Deal With Theranos

November 10, 2015: 12:00 AM EST
Retailer Safeway terminated its partnership deal with medical technology firm Theranos Inc. After spending about $350 million to build clinics in more than 800 of its supermarkets, the retailer discontinued the project, codenamed T-Rex. Safeway cited Theranos’ failure to meet deadlines for the blood-testing rollout and questions about the accuracy of results of tests done on Safeway employees as reasons for scrapping the deal. Safeway’s deal with Theranos was made in 2011, before the medical technology company announced in 2013 a partnership with Walgreens drugstores to offer blood tests to the public.
John Carreyrou, "Safeway, Theranos Split After $350 Million Deal Fizzles", The Wall Street Journal, November 10, 2015, © Dow Jones & Company, Inc.
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