An Interest In:
Web News this Week
- April 25, 2024
- April 24, 2024
- April 23, 2024
- April 22, 2024
- April 21, 2024
- April 20, 2024
- April 19, 2024
Some of Our Sources
- Pearsonified
- Web Designer Depot
- FanExtra - PSD
- My Ink Blog
- Web Design Ledger
- Reencoded
- Spyre Studios
- Android Headlines
- Willems Lab
- Hashedout
Help Webnuz
Referal links:
December 24, 2017 06:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/JKPyIk1UnQc/days-before-christmas-theranos-secures-100-million-in-new-funding
Days Before Christmas, Theranos Secures $100 Million in New Funding
An anonymous reader quotes Fortune: Call it a Christmas miracle -- albeit of a rather perverse sort. Theranos, the digraced medical-technology startup that infamously inflated the capabilities of its devices, has secured $100 million in new funding in the form of a loan. The loan, reported by the Wall Street Journal, will come from Fortress Investment Group. Fortress, whose other underdog bets include a private passenger rail line under construction in Florida, is set to be acquired by Japan's SoftBank. Theranos was reportedly on the verge of bankrutpcy... By the end of 2016, the company reportedly still had $200 million in cash on hand, but had sharply limited prospects for attracting more capital. It has since settled a major lawsuit with Walgreens, a former client, for an undisclosed but likely substantial sum. According to the Journal, the Fortress loan is expected to keep Theranos solvent through 2018. That will give the company more time for its ongoing effort to reboot as a medical device manufacturer, rather than a testing service. The loan is conditional on "achieving certain product and operational milestones," notes Fortune, adding "It's unclear whether those might include positive outcomes for the multiple investigations and lawsuits still facing the company."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/JKPyIk1UnQc/days-before-christmas-theranos-secures-100-million-in-new-funding
Share this article:
Tweet
View Full Article
Slashdot
Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..More About this Source Visit Slashdot