Article continues below advertisement In the deposition of Wade Miquelon, the former CFO of Walgreens, he explained, "My understanding is, the blood would be tested on the [Theranos] Edison device [and] that the base level testing would be able to do 96 percent of the testing done at labs." The deal dissolved in 2015. Wade Miquelon, former chief financial officer of Walgreens, talked about pressure . Brancaccio: Now, the former Walgreens chief financial officer Wade Miquelon also testified this week about that company's failed partnership with Theranos that resulted in tens of thousands. He's now. 'The Dropout' Episode 4 recap: Walgreens and Theranos In The Dropout Episode 4, viewers meet Walgreens CFO Wade Miquelon (Josh Pais), Jay Rosan (Alan Ruck), and Kevin Hunter. "The haters are everywhere" Former Walgreens CFO Wade Miquelon testified that Walgreens agreed to pay Theranos a $100 million "innovation fee," along with $40. Many people repeated: "she had this intense way of looking at you while she spoke that made you believe in her and want to follow her." Here's an example of Holmes speaking in a Theranos promotional video. Internal presentations to Walgreens reflected Theranos's promise of the "Lowest cost, highest quality testing from a finger-stick," as opposed to from a vein. Wade Miquelon, the former CFO of Walgreens, shared how the company got into business with Theranos. According to The Wall Street Journal, Miquelon said, "This was one of the most exciting. Theranos founder Elizabeth Holmes, second from left, at a ribbon-cutting ceremony in 2013 for the company's partnership with Walgreens. And while Burd seemed to get frustrated with Theranos' slow pace and delays, ex-Walgreens CFO Wade Miquelon was supportive of Holmes even as some reports about the company began to emerge in 2015 that things were amiss with its technology, per emails shown in court. Jul 20, 2015 A Cook County judge has refused to allow Wade D. Miquelon, former chief financial officer at Walgreens, to proceed with much of his defamation and breach of contract lawsuit against his former employer, in which he alleged Walgreens executives lied to investors and the press about why he had departed the company in 2014. Former Walgreens CFO Says Theranos Asked for Advance on $100 Million Payment Dow Jones, a News Corp company About WSJ News Corp is a global, diversified media and information services company. Former Walgreens Boots Alliance Inc. executive Wade Miquelon had a lot of reasons to be excited about the blood-testing startup he met with in early 2. High profile Wall St investors poured billions of dollars into the company and almost a million members of the public received incorrect blood test results. Hulu's 'The Dropout' tells the true story of Theranos's downfall. That was the key question as a former Walgreens executive testified in the Elizabeth Holmes fraud trial Wednesday. Walgreens filed a lawsuit against Theranos in 2016, claiming $140 million for breach of contract. During his testimony, Walgreen's chief financial officer Wade Miquelon also said Theranos was one of the "most exciting companies that we had seen." In a March 2010 email to Walgreens . He was previously an executive at Procter & Gamble and Walgreens . At right is former Walgreens. Rosan then met with the executive vice president and chief financial officer of Walgreens, Wade. Rosan convinces the CFO to take into account putting Theranos blood-tests clinics into Walgreens. In the episode, Dr. Jay Rosan tries to convince Wade that Theranos and Elizabeth Holmes are offering Walgreens a great proposal. Roland (Andrew Leeds), Wade Maquelon (Josh Pais), Kevin Hunter (Rich Sommer), and Jay Rosan (Alan Ruck),. Soon, Theranos would go bankrupt and was ultimately dissolved in 2018. Wade Miquelon (born October 28, 1964) is an American business executive and current CEO of Jo-Ann Stores. To the Walgreens CFO, Elizabeth gave a gift of an American flag "flown over Afghanistan" with a dedication to Walgreens written on it. Oct 13, 2021 at 12:10 pm ET Former Walgreens CFO Describes How Theranos Wooed Him By Heather Somerville Former Walgreens Boots Alliance Inc. executive Wade Miquelon had a lot of reasons to be. The company reached a peak valuation of $9 billion in 2015 after claiming it had developed automated and rapid blood testing technology requiring a very small amount of blood. Former Walgreens CFO Describes How Theranos Wooed Him. The Walgreens executives involved in the 2013 Theranos deal - CEO Greg Wasson, CFO Wade Miquelon and pharmacy president Kermit Crawford - were all forced out to clear the way for a 2014 merger . Market Trading Essentials October 13, 2021. Here's the true story. She then offered to open up wellness centers where people could come to get low-cost blood tests. Holmes was indicted on fraud charges, and her trial concluded in 2022. Episode 4 features the Theranos deal with Walgreens and Jay Rosan (Alan Ruck). She is currently awaiting her sentencing. Wade Miquelon is introduced in the fourth episode of 'The Dropout' titled 'Old White Men.' Wade is the Executive Vice President and Chief Financial Officer of Walgreens. Theranos was a former American health technology company founded in 2003 by Elizabeth Holmes. The case was settled for less than $30 million. At right is ex-CFO Wade Miquelon; second from right is ex . 188 Theranos founder Elizabeth Holmes gave Walgreens executives fake reports from major pharmaceutical companies to lend credibility to her company's ill-fated blood diagnostic devices. Former Walgreens chief financial officer Wade Miquelonleft Walgreens before the deal with Theranos fell apart, but he continued to believe in her and her startup's technology, he told the jury . SAN JOSE, Calif. - The former Chief Financial Officer for Walgreens will testify Wednesday in the trial against Theranos founder Elizabeth Holmes. The story of a medical-tech startup Theranos is a story of ambition, deceit and Steve Jobs-style black jumpers. Rosan is the former Walgreens Vice President of Health Innovation and a Walgreens Corporate Innovation Team member. Contents 1 Education 2 Career 3 Personal life 4 References 5 External links Education [ edit] Theranos also projected Walgreens would earn more than $2 billion in annual revenue from the partnership and see $650 million gross margin on those sales, Miquelon testified in his second day. Rosan is played by Alan Ruck in the series, and he's a real person. The. wade miquelon, cfo of jo-ann stores who was cfo of walgreens when it entered into a 2013 agreement with theranos to operate in-store testing sites, said during the trial walgreens never tested theranos' main product, a blood-testing device called edison, before agreeing to pay the company a $100 million innovation fee and take an ownership Then, Miquelon sends Rosan and Hunter to finish due diligence at Theranos. To Daniel Edlin, she was the sister of his Duke University college buddy, Christian. The Theranos method required. Walgreens Theranos founder Elizabeth Holmes, second from left, at a ribbon-cutting ceremony in 2013 for the company's now-terminated partnership with Walgreens. To many people a decade or so ago, Elizabeth Holmes was the founder of high-flying blood-testing startup Theranos. In The Dropout Episode 4, viewers meet up with Walgreens CFO Wade Miquelon (Josh Pais), Jay Rosan (Alan Ruck), and Kevin Hunter. Walgreens is enticed by Elizabeth to seal the deal on a new partnership with Theranos. Then, Miquelon sends Rosan and Hunter to total because of diligence at Theranos. According to Miquelon, Theranos made a great first impression with its so-called revolutionary blood-testing technology which is expected to change the medical industry. Wade Miquelon was an executive at Walgreens when . Walgreens' former CFO Wade Miquelon took the stand on Wednesday for his first full-day testimony at the trial of Theranos founder Elizabeth Holmes. Menu; Top News; News; Business; . Rosan convinces the CFO to contemplate placing Theranos blood-testing clinics into Walgreens.