Theranos CEO given two-year ban from running lab


A U.S. salubriousness regulator has barred blood-testing com ny Theranos Inc’s founder and CEO, Elizabeth Holmes, from handling a lab for at least two years, the latest blow for a com ny that is under check for the accuracy and quality of its tests.

The Centers for Medicare & Medicaid Services (CMS) revoked a key certificate for the coterie’s Newark, Calif., lab, and terminated the facility’s approval to receive Medicare and Medicaid yments for all services, Theranos voiced late on Thursday.

Theranos, once valued at $9 billion US, is also being analysed by other federal and state agencies and was accused in a suit filed in May of jeo rdizing customer health through “massive failures” that misrepresented assay results, according to court pers.

“While we are disappointed by CMS’ decision, we withdraw these matters very seriously and are committed to fully resolving all distinguished issues,” Holmes said in a statement.

Holmes, once a Silicon Valley true-love, has seen her net worth dwindle to zero from $4.5 billion US ultimately year, according to Forbes magazine.

Holmes founded Theranos in 2003 and it promised ground-breaking methods that inclination allow quick results for a wide range of tests with nothing but one drop of blood.

The com ny has been under pressure since the Go bankrupt Street Journal published a series of reports that had raised doubts less Theranos’s devices.

The CMS said in January that Theranos’s practices profaned several clinical-laboratory regulations, jeo rdizing tient health and safety.

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