Liquid Technology Provides Theranos With Post-Shutdown Equipment Processing and Recycling
The Company Spearheaded the Biotech Start-Up’s Task of Decommissioning and Reselling of Thousands of Unneeded IT Assets
Seth Klarman Tells His Investors: Central Banks Are Treating Investors Like “Foolish Children”
"Surreal doesn't even begin to describe this moment," Seth Klarman noted in his second-quarter letter to the Baupost Group investors. Commenting on the market developments over the past six months, the value investor stated that events, which would typically occur over an extended time frame, had been compressed into just a few months. He noted Read More
BROOKLYN, NY - February 21, 2019 - Liquid Technology, an industry leading IT asset disposition service provider, announces their instrumental role in coordinating and executing Theranos’ equipment and asset retirement as a result of the company’s liquidation. Initiated shortly after the company’s announced shutdown, the process began with Liquid Technology’s successful bid on Theranos’ lingering IT assets.
Once a thriving biotech company attempting to revolutionize blood testing, Theranos experienced widespread investigation and subsequent discreditation, prompting the business to be shut down in 2018. At the end of this saga, Theranos found itself left with large amounts of technology they could no longer make use of. As a result, the former multi-billion dollar company found a trusted partner in Liquid Technology, the IT asset disposition (ITAD) specialist.
The deal, a result of a thorough site survey and inventory list created by Liquid Technology, reached tens of thousands of dollars, covering the worth of all combined assets plus logistic expenses. Once accepted, the offer allowed Liquid Technology to successfully process all items on behalf of Theranos, including approximately 550 laptops, 500 PCs, 200 phones, 800 LCDs, and 4200 other items. Liquid’s team of IT asset disposition (ITAD) professionals were onsite at Theranos headquarters processing and packing up equipment over a period of three days.
No data destruction services were required, as Theranos had removed and stored the vast majority of the hard drives present in the equipment for any pending legal cases. However, Liquid Technology expertly completed proper, enterprise-class and compliant ITAD protocol. The processed assets yielded several overlooked hard drives, which were then safely returned to Theranos.
As one of the leading e-waste recycling service providers in the country, Liquid Technology recycled all lingering assets in adherence with EPA guidelines, dismantling and safely extracting raw materials for further reuse. The strategic resale of any equipment with residual worth ensured that the maximum amount of value could be recouped for the highest possible return on investment for Theranos. Liquid Technology delivered organized, documented, and fully-auditable results, all of which are consistent with the highest security and environmental consciousness.
“Maintaining high levels of diligence and top-tier ITAD practices in the last phase of the enterprise life cycle is a positive step in many regards,” states Richard Greene, managing partner and founding member of Liquid Technology. “Ethical and compliant practices guarantee that businesses remain free of financial or security risk while the planet is successfully safeguarded against the damaging results of improper technology disposal. Decommissioning large amounts of IT equipment is not always a straightforward process, but we are happy to serve as a partner to all.”
Liquid Technology’s complete, end-to-end equipment disposition services are e-Stewards Certified, R2 Certified, and ISO 14001 Certified to ensure all needs and regulations are met with unparalleled ease for businesses. To achieve compliance throughout every step of IT asset disposition, Liquid Technology provisions clients with market expertise, objectivity, and confidentiality to help guide businesses through a sensitive shutdown or liquidation process. These decisions, when managed correctly, help to facilitate greater security, maximize ROI and minimize business risk.