Liquid Technology, an industry-leading IT asset disposition service provider recently announced that after a successful bid, they were chosen to spearhead the biotech startup Theranos’ equipment and asset retirement processes. The operation, which began shortly after Theranos announced they were to shut down, began with Liquid Technology completing a thorough site survey and inventory list. Once Liquid Technology completed these initial steps, the company offered Theranos a bid covering the cost of all IT assets and logistic expenses, together reaching tens of thousands of dollars.
Theranos began as a promising and revolutionary biotech company with a mission of reinventing the blood testing process, but soon experienced complications in their business strategy and concern from the media. After a widespread and thorough investigation and a subsequent discreditation, Theranos made the decision to close its doors in 2018. What Theranos was left with was a huge amount of lingering IT assets that could no longer be utilized by the company. As a result, the former multi-billion-dollar company sought a trusted partner in Liquid Technology, the IT asset disposition (ITAD) specialist, to ease complications and better navigate their technologies’ end-of-life processes.
“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 was able to successfully process all items on behalf of Theranos, including approximately 550 laptops, 500 PCs, 200 phones, 800 LCDs, and 4,200 other miscellaneous items. A team of Liquid Technology’s ITAD professionals was on site at Theranos headquarters for a period of three days while they packed up and dealt with all assets. In this case, no data destruction services were necessary, as Theranos had already removed and stored almost all of the remaining hard drives themselves to prepare for any pending legal cases. During the procedure, Liquid Technology did uncover a few overlooked hard drives left in the processed assets, which were all safely returned to Theranos.
Liquid Technology expertly completed proper, thorough, enterprise-class, and compliant ITAD protocol for the company. As one of the leading e-waste recycling service providers in the country, Liquid Technology diligently recycled all lingering assets in strict adherence with EPA guidelines, dismantling and safely extracting raw materials for further reuse. After this phase, the company completed a strategic resale of the equipment wherever possible, ensuring that any and all value could be recouped for the highest possible return on investment for Theranos. Throughout all phases, Liquid Technology’s top priority was delivering organized, documented, and fully-auditable results, all of which are consistent with the utmost security and environmentally-conscious processes.
To further ensure the highest quality services, Liquid Technology’s complete, end-to-end disposition strategies are e-Stewards Certified, R2 Certified, and ISO 14001 Certified. These certifications verify that all needs and regulations are met with unparalleled ease for the client business. Liquid Technology empowers clients with unparalleled market expertise, objectivity, and confidentiality, helping to guide companies through sensitive shutdowns or liquidation processes while achieving compliance across the board. The decisions involved with any ITAD process, when managed correctly, result in greater security, maximized security and minimized business risk.