Elizabeth Holmes’s Partner Has a New Blood-Testing Start-Up

Source: https://www.nytimes.com/2025/05/10/business/elizabeth-holmes-partner-blood-testing-startup.html

Summary

Billy Evans, partner of convicted Theranos founder Elizabeth Holmes, is reportedly launching a new blood-testing startup focused on "human health optimization." This venture inevitably draws scrutiny due to the Theranos scandal, which saw Holmes convicted of fraud for misleading claims about their blood-testing technology. Evans faces the challenge of distancing himself through transparency, proven technology, a focus on a specific niche, a strong team, and avoiding overhyped claims. While his motivations are speculated to be a belief in the technology's potential, expertise, financial incentives, or rehabilitation, the new company's impact could increase industry scrutiny and drive ethical practices and innovation.

Full News Report

Here's a possible article draft: ## Elizabeth Holmes's Partner, Billy Evans, Launches New Blood-Testing Start-Up Amid Theranos Shadows Billy Evans, the partner of convicted Theranos founder Elizabeth Holmes and father of their two children, is reportedly venturing into the world of blood-testing once again. Despite the lingering cloud of the Theranos scandal, Evans is attempting to raise capital for a new start-up focused on "human health optimization" through, you guessed it, blood-testing. This raises significant questions: what are the details of this new venture? How is Evans distancing himself from the Theranos debacle? And why is he returning to a field so deeply tainted by his partner's fraudulent activities? ### What We Know About Billy Evans's New Venture Details surrounding Evans's new blood-testing start-up remain sparse. Public information is limited, and Evans himself has maintained a relatively low profile since Holmes's legal troubles intensified. Reports suggest the company is focused on providing personalized health insights through advanced blood analysis, aiming to optimize individual well-being. The exact name of the company hasn't been widely publicized, and the level of funding secured remains unknown. However, it is believed that Evans is actively seeking investment from venture capitalists and private investors. The proposition, at its core, echoes some of the promises made by Theranos: using blood tests to unlock a deeper understanding of individual health and proactively manage potential health risks. The key difference, presumably, lies in the execution and the technology being employed. Whether Evans has learned from the catastrophic mistakes of Theranos and is pursuing a legitimate, scientifically sound approach remains to be seen. ### Context: The Specter of Theranos The launch of this new venture is inextricably linked to the rise and fall of Theranos and the saga of Elizabeth Holmes. Theranos, once valued at billions, promised to revolutionize blood-testing with its proprietary technology that could supposedly perform hundreds of tests using just a single drop of blood. Holmes, the charismatic and ambitious founder, captivated investors and the media with her vision. However, the technology never worked as advertised. Independent investigations revealed that Theranos was using traditional blood-testing machines for the vast majority of its tests, and even those were often inaccurate. The company misrepresented its capabilities to investors, partners, and patients, leading to a massive scandal and the eventual collapse of the company. Elizabeth Holmes was ultimately convicted on multiple counts of fraud and conspiracy to commit fraud. She is currently serving an 11-year prison sentence. The Theranos scandal left a trail of shattered trust in the blood-testing industry and raised serious concerns about the potential for hype and misinformation in the healthcare sector. It also highlighted the importance of rigorous scientific validation and independent oversight. ### How is Evans Distancing Himself From Theranos? The question on everyone's mind is how Billy Evans plans to separate his new venture from the toxic legacy of Theranos. While details are scarce, there are several potential strategies he may be employing: * **Emphasizing Transparency and Validation:** Evans will likely need to prioritize transparency in his company's operations and technology. This includes publishing data, undergoing independent validation of its blood-testing methods, and working with established medical professionals to ensure accuracy and reliability. * **Adopting Proven Technology:** Steering clear of unproven or proprietary technologies will be crucial. The Theranos scandal underscored the dangers of relying on unvalidated methods. Using established and well-understood blood-testing techniques could rebuild confidence. * **Focusing on a Specific Niche:** Rather than attempting to revolutionize the entire blood-testing industry, Evans's company might focus on a specific niche application, such as preventative health screening or personalized medicine, where targeted blood analysis can provide valuable insights. * **Building a Strong Team:** Surrounding himself with experienced scientists, medical professionals, and ethical business leaders is essential. This would signal a commitment to integrity and competence. * **Avoiding Overhyped Claims:** Making realistic and evidence-based claims is paramount. Avoiding the grandiose promises and over-the-top rhetoric that characterized Theranos will be key to regaining trust. However, distancing himself entirely from the scandal will prove extremely challenging. His association with Holmes and the history of Theranos will inevitably cast a shadow over his new venture. ### Why Return to Blood-Testing? The decision to return to the blood-testing field, given the circumstances, raises eyebrows. Several factors might be driving this decision: * **Personal Belief:** Despite the failure of Theranos, Evans might genuinely believe in the potential of blood-testing to improve healthcare. He may feel that the underlying concept is sound, even if Theranos's execution was fatally flawed. * **Familiarity and Expertise:** Evans may have developed a certain level of expertise in the blood-testing industry during his time with Holmes. This experience, even if negative, could provide him with valuable insights into the market and the potential challenges. * **Financial Incentive:** The potential for financial reward in the healthcare sector is significant. If Evans believes he can develop a successful and ethical blood-testing company, he could reap substantial profits. * **Rehabilitation:** He may be attempting to rehabilitate his image and prove that he can contribute positively to the healthcare industry after the Theranos debacle. This could be a personal mission to demonstrate his commitment to ethical business practices. * **Limited Options:** His association with Holmes might have significantly narrowed his career options, making it difficult to find opportunities in other fields. However, these are all speculations, and only Evans himself truly knows his motivations. ### Potential Impacts and Market Trends The launch of Evans's start-up, regardless of its success, will undoubtedly have an impact on the blood-testing industry and the broader healthcare landscape. * **Increased Scrutiny:** It will likely lead to increased scrutiny of new blood-testing companies and technologies. Investors and regulators will be more cautious and demand more rigorous validation. * **Renewed Focus on Ethics:** The Theranos scandal has already sparked a renewed focus on ethics and accountability in the healthcare sector. Evans's venture will likely further amplify this focus. * **Advancements in Personalized Medicine:** While Theranos failed spectacularly, the underlying trend towards personalized medicine and preventative healthcare remains strong. This creates an opportunity for legitimate blood-testing companies to provide valuable insights and improve patient outcomes. * **Growth in Direct-to-Consumer Testing:** The direct-to-consumer blood-testing market is growing rapidly, offering individuals more control over their health information. However, this also raises concerns about accuracy, interpretation, and privacy. * **Competition and Innovation:** Even with the negative Theranos association, increased competition in the blood-testing sector could drive innovation and lead to the development of more accurate, affordable, and accessible testing options. ### Conclusion Billy Evans's foray back into the world of blood-testing is a complex and controversial move. The shadow of Elizabeth Holmes and Theranos looms large, raising serious questions about the ethics and viability of his new venture. While the potential for personalized healthcare through blood analysis remains promising, Evans will face an uphill battle to regain trust and convince investors and the public that his company is different from the fraudulent operation that preceded it. The success of his venture will depend on his commitment to transparency, validation, ethical business practices, and, above all, delivering accurate and reliable blood-testing results. Only time will tell if he can successfully navigate the legacy of Theranos and build a legitimate and trustworthy blood-testing company. The world, especially those in the medical and investment communities, will be watching closely.