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1Q 2017 | IN-4466
In January 2017, Theranos closed its last remaining blood testing laboratory after it failed a regulatory inspection by the Centers for Medicare and Medicaid Services. This is only the latest setback for Theranos. The company, once valued at US$9 billion, was poised to disrupt the blood-testing market, valued at US$52.8 billion in 2016. In October 2015, the Wall Street Journal published an article detailing that the microfluidic technology Theranos claimed to have perfected was flawed, and that the company administered most of its blood tests on competitor’s equipment. Following that article’s release, Theranos faced increased scrutiny resulting in multiple lab closures, layoffs, and lawsuits. Now, Theranos is shifting focus from its once promising blood-testing business to portable “lab on chip” devices. Theranos’ troubles will greatly impact the startup space resulting in increased scrutiny for health technology startups.
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Global healthcare spending is at record levels, driven by the cost of an aging population and the associated long-term care for chronic conditions like heart disease, diabetes, and obesity. Employers are facing these healthcare burdens, as well. Unwell employees cost companies more through increased health insurance plan costs. On average, they also experience more absenteeism than their peers and are generally less productive. This challenge is pushing employers, and the healthcare industry as a whole, to develop new products and solutions that can improve the health of individuals worldwide.
Over the past several years, employers have begun integrating wearable wireless devices into their wellness programs. These devices brought a new level of activity management and analysis to corporate wellness programs. They also increased employee participation rates and drove preventative programs for those covered by these programs.
This webinar will include an examination of the key drivers pushing wearable devices into corporate wellness programs, as well as what will drive success and competition in this market over the next five years. It will also include an overview of the major market players, including device manufacturers, insurance companies, and wellness providers, as well as how their efforts will converge to drive employee adoption and engagement into these programs. Additionally, the webinar will include a discussion on what these trends reveal about the evolution of the wearable device market.Replay