The settlement is confidential. However, Theranos said the agreement “will result in the dismissal of Walgreens’ lawsuit against Theranos, with no finding or implication of liability.”
The settlement comes after both sides reached a tentative agreement last June, under which Theranos agreed to pay Walgreens less than $30 million. Walgreens said in an emailed statement to Becker’s Hospital Review the finalized settlement resolves the lawsuit “on mutually acceptable terms.”
Theranos and Walgreens partnered to offer blood tests at approximately 40 Walgreens stores in Arizona and California, according to a Los Angeles Times report. But the partnership ended in June 2016 after Theranos recalled tens of thousands of blood tests and provided corrected tests. Walgreens filed a lawsuit in November 2016, accusing Theranos of breach of contract.
More articles on legal and regulatory issues:
Pain Management Group to pay $312k to resolve false billing allegations
Patient stabs University of Nebraska Medical Center employee
Healthcare executive gets nearly 10 years in prison for $56.5M fraud scheme
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.