CHICAGO, Oct. 12, 2015 /PRNewswire/ -- CME Group's
Center for Innovation announced today that Elizabeth Holmes, founder and CEO of Theranos,
is the 11th recipient of the CME Group Melamed-Arditti
Innovation Award. Holmes founded the revolutionary blood
diagnostics company, Theranos, to change health care from reactive
to proactive, empowering individuals to usher in a new era of
preventive care. CME Group will present the award at the eighth
annual Global Financial Leadership Conference in Naples, Florida, on Tuesday, November 17.
The CME Group Melamed-Arditti Innovation Award strives to
celebrate innovation that, through practical application, has had a
positive impact on the economic well-being of individuals,
industries or nations. This award honors an individual or group
whose innovative ideas, products or services have created
significant change to markets, commerce or trade.
"Elizabeth Holmes has invented
and developed a lab diagnostic testing system that saves time and
money, and helps people obtain critical information about their own
health," said Leo Melamed, CME Group
Chairman Emeritus and Founder of the Competitive Markets Advisory
Council. "Due to her inventorship and under her leadership,
Theranos' innovative technologies are not only set to disrupt the
$75-billion lab testing industry,
they're set to disrupt the health care paradigm as we know it."
"It is an honor and a privilege to receive this award, and be
named among the many other talented and innovative leaders who have
come before me," said Elizabeth
Holmes, founder and CEO of Theranos. "Innovation and
technology should be used to address the world's greatest
challenges. At Theranos, our mission is to make actionable
health information accessible to everyone at the time it
matters. This award recognizes our success in using
technological innovations in laboratory testing to make tests more
accessible – both logistically and financially – and less painful,
which will help facilitate early detection and prevention of
disease. It is our hope that through this innovation, more
people will be able to live their best possible lives."
Holmes was studying chemical engineering at Stanford University and was only 19 years old when
she applied for her first patent for a bodily fluid sensor
system. She is currently a named inventor on 29 U.S. and 125
foreign patents. Holmes is the youngest self-made female
billionaire on the Forbes 400 list.
Earlier this year, Holmes worked with leaders in Arizona to pass the first law that expressly
recognizes individuals' right to directly access laboratory tests
without first obtaining an order, which often requires justifying a
health concern or relying on insurance eligibility.
She serves as a U.S. Presidential Ambassador for Global
Entrepreneurship, is a member of the Harvard Medical School Board
of Fellows, and a recipient of numerous honors, including the 2015
TIME 100 Most Influential People in the World.
Currently valued at $10 billion,
Theranos is a full reference lab that has performed millions of
tests through its Wellness Centers in Arizona, California and Pennsylvania, with plans to expand throughout
the U.S. All of Theranos' tests are posted publicly at the
same price for everyone, regardless of insurance status, and are
billed at rates of 50 percent or less than the Medicare
reimbursement rate. Theranos is leading transparency in lab
testing, including committing to FDA review of all of its
laboratory developed tests and publishing its prices, lab
proficiency testing scores, customer satisfaction scores, guest
visit times, and more.
The CME Group Melamed-Arditti Innovation Award recipient,
formerly known as the Fred Arditti Innovation Award, is chosen
annually by members of the Competitive Markets Advisory Council
(CMAC). The award's namesakes are Leo
Melamed, in recognition of his revolutionary achievements in
introducing financial futures instruments to the world in 1972; and
former CME Group Chief Economist Fred
Arditti, who was instrumental in developing the index upon
which CME Group's Eurodollar futures contract, the world's most
actively traded futures contract, was based. Past recipients
of the award are:
- 2014 – Ben Bernanke, Chairman,
Board of Governors of the Federal Reserve System (2006-2014);
- 2013 – Sal Kahn, Founder, Khan
Academy;
- 2012 – Jimmy Wales, Founder,
Wikipedia;
- 2011 – Myron Scholes, Frank E.
Buck Professor of Finance Emeritus, Stanford Graduate School of
Business, Nobel Laureate in Economic Sciences (1997) and
Robert Merton, School of Management
Distinguished Professor of Finance, MIT Sloan
School of Management, Nobel Laureate in Economic Sciences
(1997);
- 2010 – David Ferrucci, Head of
Semantic Analysis and Integration, DeepQA/Watson, IBM;
- 2009 – Harry Markowitz, Nobel
Laureate in Economic Sciences (1990);
- 2008 – Michael Bloomberg,
founder of Bloomberg LP and Former Mayor of the City of New York;
- 2007 – Eugene Fama,
Distinguished Service Professor of Finance at the University of Chicago Graduate School of Business,
Nobel Laureate in Economic Sciences (2013);
- 2006 – Leo Melamed, founder of
financial futures and CME Group chairman emeritus;
- 2005 – William F. Sharpe, STANCO
25 Professor of Finance Emeritus, Stanford
University, Nobel Laureate in Economic Sciences (1990).
To read more about Holmes, and follow coverage of the
Melamed-Arditti award presentation at the Global Financial
Leadership Conference, visit CME Group's online magazine and blog,
OpenMarkets, at www.openmarkets.com. To access additional
information about the conference as well as previous GFLC video,
photo and press highlights, visit the conference website at
www.gflc.com.
About Theranos, Inc.
Headquartered in Palo Alto,
Theranos, Inc. is a consumer health care technology company.
Theranos' clinical laboratory offers comprehensive laboratory tests
from samples as small as a few drops of blood at unprecedented low
prices. Founded in 2003 by Elizabeth
Holmes, Theranos' mission is to make actionable health
information accessible to people everywhere in the world at the
time it matters, enabling early detection and intervention of
disease, and empowering individuals with information to live the
lives they want to live. Visit us at theranos.com. Follow us at
@theranos.
About the Center for Innovation
CME Group, the world's leading and most diverse derivatives
exchange, established the CME Group Center for Innovation in 2003
to identify, foster and showcase examples of significant innovation
and creative thinking pertaining to markets, commerce and financial
services in the public and private sectors. Each of CFI's programs
aims to explore and communicate the principals behind innovation
and more importantly, showcase their application to a broad and
diverse audience.
Oversight of CFI is provided by the CMAC, which includes: CMAC
Chairman, John P. Gould, Steven G.
Rothmeier Distinguished Service Professor of Economics,
University of Chicago Booth School of
Business; David D. Hale,
International Economist and Founding Chairman, David Hale Global
Economics, Inc.; Andrew Lo,
Charles E. and Susan T. Harris Professor of Finance and Director of
the Laboratory for Financial Engineering, MIT; Robert C.
Merton, School of Management Distinguished Professor of
Finance, MIT Sloan School of
Management, Nobel Laureate in Economic Sciences (1997);
Michael H. Moskow, Vice Chairman and
Senior Fellow for the Global Economy, Chicago Council on Global
Affairs and former President, Federal Reserve Bank of Chicago; Myron
Scholes, Frank E. Buck Professor of Finance, Emeritus,
Stanford School of Business, Nobel
Laureate in Economic Sciences (1997); Robert J. Shiller, Sterling Professor of
Economics, Yale University, Nobel
Laureate in Economic Sciences (2013).
Additionally, the following CME Group senior officials serve as
members of CMAC: Leo Melamed, CME
Group Chairman Emeritus and CMAC Vice Chairman; Terry Duffy, CME Group Executive Chairman and
President; Phupinder Gill, CME Group
CEO; Jack Sandner, Retired
Chairman.
For more information on the CME Group Center for Innovation,
please visit www.cmegroup.com/cfi.
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
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through its CME Globex® electronic trading platform, its trading
facilities in New York and
Chicago, and through its
London-based CME Europe
derivatives exchange. CME Group also operates one of the
world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
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