New TheranosTM Wellness Centers at Walgreens
stores provide consumers with less invasive, fast, affordable
testing on samples as small as a few drops of blood
Theranos, Inc. and Walgreens (NYSE: WAG) (Nasdaq: WAG) today
celebrate the opening of new Theranos Wellness Centers located at
Walgreens stores in the Phoenix metropolitan area. This marks the
next step in Theranos and Walgreens’ planned national rollout of
Theranos Wellness Centers, and the first expansion of the new
laboratory services outside of California. A ribbon cutting
ceremony will take place at 11 a.m. today at the Walgreens store
located at 6501 E. Greenway Parkway, Scottsdale.
The new Theranos Wellness Centers will provide Phoenix area
consumers with access to less invasive and more affordable
clinician-directed lab testing from a blood sample as small as a
few drops – 1/1,000 the size of a typical blood draw. The
micro-samples, collected by certified phlebotomists or trained
Walgreens technicians, are taken from either a tiny finger stick or
traditional methods, eliminating the need for large needles and
numerous vials of blood typically required for diagnostic lab
testing.
“Walgreens and Theranos' partnership can have a real impact on
the health and wellbeing of the people of Phoenix,” said Phoenix
Mayor Greg Stanton. “I'm proud that Phoenix was chosen for the
first broad implementation of a revolutionary lab testing program
that makes diagnosis of illnesses fast, inexpensive and convenient.
It reflects the success of our decade long investment in the
bioscience and health care industries.”
Theranos test results can be made available to physicians in a
matter of hours, enabling fast diagnoses to help make informed
treatment choices. Tests are low cost – always 50 percent of
Medicare reimbursement rates or less – and are reimbursed by major
insurance carriers, Medicare, and Medicaid. Theranos believes that
tests should cost the same regardless of insurance plan or insured
status, and all test prices are published on the Theranos
website.
In September 2013, Theranos and Walgreens announced a long-term
partnership to bring Theranos’ new lab testing service to Walgreens
stores nationwide. The first Theranos Wellness Center opened that
month at a Walgreens in Palo Alto, Calif., where Theranos is
headquartered.
“For the past 10 years, Theranos has worked relentlessly to help
make actionable information accessible to individuals and their
physicians at the time it matters most. Our goal to bring high
quality, affordable lab testing within 5-miles of every home in
Phoenix begins today,” said Elizabeth Holmes, Founder and CEO of
Theranos. “By making it possible to run laboratory tests from a
tiny sample, children, elderly, and those with chronic
conditions or a fear of needles will now be able to partake in
a new experience."
New Theranos Wellness Centers are located at the following
Walgreens stores, with plans to add additional locations on an
ongoing basis:
- 3402 N. Central Avenue, Phoenix
- 6501 E. Greenway Parkway,
Scottsdale
“As we work to bring Theranos’ lab testing services to more of
our stores and communities nationwide, we’re excited that Phoenix
area residents will be among the first to have this service
available in the communities where they live and work,” said Kermit
Crawford, Walgreens president of pharmacy, health and wellness.
“Working with Theranos, we’re proud to offer a differentiated
patient experience through this latest innovation in health care
technology. It’s another way in which we’re providing comprehensive
care as part of our mission to transform community pharmacy.”
As the nation’s largest retail pharmacy chain with more than
8,100 neighborhood pharmacies – including 188 in the Phoenix area –
Walgreens has the infrastructure to enable Theranos to bring its
services to consumers nationwide.
About Theranos
Headquartered in Palo Alto, California, Theranos, Inc. is
working to shape the future of lab testing and the way health
information is collected, analyzed, and communicated. Founded in
2003 by Elizabeth Holmes, Theranos is on a mission to make
actionable health information accessible to people everywhere in
the world at the time it matters, enabling early detection and
intervention of disease, and empowering individuals with
information to live the lives they want to live.
www.theranos.com
About Walgreens
As the nation's largest drugstore chain with fiscal 2013 sales
of $72 billion, Walgreens (www.walgreens.com) vision is to be the
first choice for health and daily living for everyone in America,
and beyond. Each day, Walgreens provides more than 6 million
customers the most convenient, multichannel access to consumer
goods and services and trusted, cost-effective pharmacy, health and
wellness services and advice in communities across America.
Walgreens scope of pharmacy services includes retail, specialty,
infusion, medical facility and mail service, along with respiratory
services. These services improve health outcomes and lower costs
for payers including employers, managed care organizations, health
systems, pharmacy benefit managers and the public sector. The
company operates 8,131 drugstores in all 50 states, the District of
Columbia and Puerto Rico. Take Care Health Systems is a Walgreens
subsidiary that is the largest and most comprehensive manager of
worksite health and wellness centers and in-store convenient care
clinics, with more than 750 locations throughout the country.
Cautionary Note Regarding Forward-Looking Statements: Statements
in this release that are not historical are forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Words such as
"expect," “likely,” "outlook," “forecast,” "would," "could,"
"should," “can,” “will,” "project," "intend," "plan," "goal,”
“target,” “continue," "sustain," “synergy,” "on track," "believe,"
"seek," "estimate," "anticipate," "may," “possible,” "assume," and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements are not guarantees of future performance and involve
risks, assumptions and uncertainties, including, but not limited
to, those relating to the speed, efficiency, cost, reliability and
safety of lab testing services and results, the introduction of
Theranos services at Walgreens locations including the timing,
scope and financial ramifications thereof, and those described in
Item 1A (Risk Factors) of our most recent Annual Report on Form
10-K and Quarterly Report on Form 10-Q, each of which is
incorporated herein by reference, and in other documents that we
file or furnish with the Securities and Exchange Commission. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date they are made. Except to the extent
required by law, Walgreens does not undertake, and expressly
disclaims, any duty or obligation to update publicly any
forward-looking statement after the date of this report, whether as
a result of new information, future events, changes in assumptions
or otherwise.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20131113005513/en/
TheranosJeffrey
Blickman, 650-470-0334pr@theranos.comorWalgreensJim Cohn,
224-565-1967jim.cohn@walgreens.com
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