Partner Fund Management , a major investor in embattled consumer healthcare tech company , Theranos , is suing the start - up and its founder for allegedly lying to gain its close to $ 100 million investment . The San Francisco hedge fund dismissed the suit alleging that the start - up ’s working proprietary technologies do not exist and that they are not close to regulatory compliance as well . Theranos claimed to be able to perform dozens of tests with only a few drops of blood , but a Wall Street Journal investigation found that its unique technology was only used on a few tests , relying on conventional devices and giving unreliable results to patients .
Partner Fund Management, a major investor in embattled consumer healthcare tech company, Theranos, is suing the start-up and its founder for allegedly lying to gain its close to $100m investment. The San Francisco hedge fund filed the suit alleging that the start-up’s working proprietary technologies do not work and that they are not close to regulatory approval as advertised. Theranos claimed to be able to perform dozens of tests with only a few drops of blood, but a Wall Street Journal investigation found that its unique technology was only used on a few tests, relying on conventional devices and giving unreliable results to patients.