One of the most exciting privately held companies in Silicon Valley came under fire on Thursday. Theranos has been viewed by some as a revolutionary company, and has been valued at as much at $9 billion in its most recent round of fundraising.
Theranos is a diagnostics company with fast finger-prick blood testing technology that aims to upend the traditional health care establishments by making it easier, less expensive and less uncomfortable to get tested for various conditions.
However the company also has critics, as The Wall Street Journal ran an article about Theranos alleging that the company's proprietary testing devices may be inaccurate. The Journal cited a former employee that claimed that of the 240 tests offered by Theranos, only 15 are actually performed on the company's proprietary Edison diagnostic machine, with the vast majority done on traditional lab equipment.
"That article was pretty brutal," the "Mad Money" host said. A WSJ representative earlier told CNBC the newspaper "fully stands by [author] John Carreyrou's article about Theranos, which was richly sourced and thoroughly researched."
With that in mind, Cramer always likes to make sure both sides of a story are represented. That is why he spoke with Elizabeth Holmes, the founder and CEO of Theranos, to give her a chance to provide her perspective.
The CEO speculated the reason why Theranos has garnered so much attention and scrutiny, stating "This is what happens when you work to change things, and first they think you're crazy, then they fight you and then all of a sudden you change the world," Holmes said. (Tweet this)
Holmes said she was personally shocked to see that The Journal would publish the article, as her company had purportedly sent the WSJ more than 1,000 pages of documentation that allegedly refuted the statements in the story.
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"But we are doing things differently and we are working to make a difference and that means people raise questions, and that's okay," she said.
Holmes also added that Theranos offered to bring its technology to The Journal offices; she claimed they turned down that request.