<sod>On October 5, 2016, Theranos announced that it was closing its laboratories and Walgreen's testing Centers and would instead focus on selling its miniLab blood testing device. <ref>{{cite web|url=http://www.chicagotribune.com/business/ct-theranos-layoffs-20161006-story.html|title=Theranos will close labs and Walgreens testing sites, laying off hundreds|first=Washington|last=Post|work=chicagotribune.com|accessdate=6 October 2016}}</ref><ref>{{cite news|last1=Mole|first1=Beth|title=Theranos throws in the towel on clinical labs, officially pivots to devices|url=http://arstechnica.com/science/2016/10/theranos-throws-in-the-towel-on-clinical-labs-officially-pivots-to-devices/|accessdate=6 October 2016|publisher=Ars Technica|date=5 October 2016}}</ref><ref>{{cite web|last1=Holmes|first1=Elizabeth|title=An Open Letter from Elizabeth Holmes|url=https://news.theranos.com/2016/10/05/an-open-letter-elizabeth-holmes/|website=Theranos|publisher=Theranos|accessdate=6 October 2016}}</ref><eod>
<sod>In 2016, ''[[Forbes]]'' revised the estimated net worth of the company to $800 million taking into account the $724 million of capital raised.<ref name="Forbes_nothing">{{Cite web|url=http://www.forbes.com/sites/matthewherper/2016/06/01/from-4-5-billion-to-nothing-forbes-revises-estimated-net-worth-of-theranos-founder-elizabeth-holmes/#6750a4fc2f29|title=From $4.5 Billion To Nothing: Forbes Revises Estimated Net Worth of Theranos Founder Elizabeth Holmes|last=Herper|first=Matthew|website=Forbes|access-date=June 1, 2016}}</ref> On October 5, 2016, Theranos announced that it was closing its laboratories and Walgreen's testing Centers and would instead focus on selling its miniLab blood testing device. <ref>{{cite web|url=http://www.chicagotribune.com/business/ct-theranos-layoffs-20161006-story.html|title=Theranos will close labs and Walgreens testing sites, laying off hundreds|first=Washington|last=Post|work=chicagotribune.com|accessdate=6 October 2016}}</ref><ref>{{cite news|last1=Mole|first1=Beth|title=Theranos throws in the towel on clinical labs, officially pivots to devices|url=http://arstechnica.com/science/2016/10/theranos-throws-in-the-towel-on-clinical-labs-officially-pivots-to-devices/|accessdate=6 October 2016|publisher=Ars Technica|date=5 October 2016}}</ref><ref>{{cite web|last1=Holmes|first1=Elizabeth|title=An Open Letter from Elizabeth Holmes|url=https://news.theranos.com/2016/10/05/an-open-letter-elizabeth-holmes/|website=Theranos|publisher=Theranos|accessdate=6 October 2016}}</ref><eod>