Theranos CEO and founder Elizabeth Holmes. (credit: Max Morse for TechCrunch)

In a news release issued late Sunday, Walgreens announced the company had informed Theranos that it was calling off its nearly three-year-long relationship. Walgreens will close all 40 Theranos Wellness Centers in its drug stores “effective immediately.”  The announcement comes after Theranos voided or corrected tens of thousands of tests and faces possible federal sanctions for repeated failures at one of its labs.

“In light of the voiding of a number of test results, and as the Centers for Medicare and Medicaid Services (CMS) has rejected Theranos’ plan of correction and considers sanctions, we have carefully considered our relationship with Theranos and believe it is in our customers’ best interests to terminate our partnership,” Brad Fluegel, Walgreens Senior Vice President, said in the news release.