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theranos given indirect lifeline from Softbank

Accepted submission by Anonymous Coward at 2017-12-24 15:20:35
Business []

Theranos has secured $100 million in debt financing. Yes, someone gave the blood testing company known for handing out questionable test results money.

First reported by Business Insider, the company reportedly told investors it had secured the money from Fortress Investment Group, a New York-based private equity firm that was acquired by Softbank earlier this year.

Of course, this is debt financing, not equity and Theranos will surely need it as it has been bleeding money, laying off more than half its workforce this year and trying to come up with ways to keep it afloat.

Original Submission