Theranos was once a promising company that set out to innovate blood testing. Two years ago, Theranos was valued as high as $9 billion. But Theranos has faced increased scrutiny, along with civil and criminal investigations, since a Wall Street Journal report in October suggested Theranos' blood-testing devices were flawed.
Walgreens began to step away from Theranos in January when the company ended Theranos lab testing at its Palo Alto., California, location and told Theranos to stop sending tests to its lab. Now, Walgreens will close all 40 Theranos blood-draw sites in Walgreens stores, all of which were in Arizona, the company said in a statement.
Brooke Buchanan, vice president of communications at Theranos, said in a statement that the company is disappointed in Walgreens' decision but remains "fully committed to our mission to provide patients access to affordable health information and look forward to continuing to serve customers in Arizona and California through our independent retail locations."
Theranos CEO Elizabeth Holmes faces a two-year ban from the blood-testing business. Though the investigations aren't complete, there is already a Theranos movie in the works set to star Jennifer Lawrence as Holmes.