Then-Vice President Joe Biden voiced support for Theranos on his behalf and that of sitting President Barack Obama referring to the company “an inspiration.” Theranos founder Elizabeth Holmes was convicted on four counts of fraud this week.
“You know, the president and I, as I hope we’ve demonstrated, led by the president, share your vision of a new healthcare paradigm focused on preventive care,” Biden said while meeting with Holmes in 2015.
Biden publicly endorsed Theranos, offering praise for “charging historically low prices” and making its diagnostic tools available to the public at large. The support from not only Biden but the sitting presidential administration played a key role in fundraising to support Theranos which has been valued at nine-billion dollars.
We now know that the technology that Holmes claimed would conclusively analyze and produce life-saving tests from only a few drops of blood was a sham. Some patients rushed to the emergency room after Theranos’ test informed them they were on the brink of death, only to learn they were fine after a real test was used.