PALO ALTO, Calif.--(BUSINESS WIRE)--Theranos, Inc. announced today an agreement with the Arizona Attorney General’s office whereby the company will reimburse Arizona residents for all amounts they paid for Theranos blood testing services between 2013 and 2016. Theranos agreed to return $4.65 million to Arizona consumers, which reflects all amounts paid by Arizona consumers for Theranos tests, regardless of whether Theranos received payment for the tests, or whether the test results were voided or corrected.
Theranos said that including all consumers who had tests over that time period demonstrated the company’s commitment to resolving the issue amicably on behalf of Arizonans and working collaboratively with state officials.
With the agreement, both parties intend to resolve all existing or potential claims against Theranos, which settled the matter without any admission of liability.
The company also affirmed that it will not own or operate a CLIA-licensed laboratory in Arizona for two years, commencing March 28, 2017, and will pay the attorney general’s office $200,000 in civil penalties and $25,000 in attorneys’ fees and other legal costs.
Founded in 2003 by Elizabeth Holmes, Theranos, Inc. is a health technology company headquartered in Palo Alto, Calif. Its proprietary miniLab platform is designed to enable earlier disease detection and intervention by facilitating low-cost, small-sample collection, testing, and rapid communication of diagnostic information in distributed settings. To learn more about Theranos, visit www.theranos.com.