Federal health regulators seek to revoke license of Theranos blood-testing lab

[n2doc]

Health regulators have proposed revoking the federal license for Theranos Inc.'s California laboratory and banning the firm's top two executives from the blood-testing business for at least two years.

The proposed sanctions were included in a March 18 letter to the Palo Alto company from the federal Centers for Medicare and Medicaid Services, which found Theranos out of compliance with certain federal lab requirements.

Theranos' founder and chief executive is Elizabeth Holmes and its president is Sunny Balwani.

Theranos has responded to the letter and is waiting for the agency to finish reviewing the privately held company's proposed solutions, Theranos spokeswoman Brooke Buchanan said.

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http://www.latimes.com/business/la-fi-theranos-sanctions-20160414-story.html

[Human101948]

1. I remember reading an article about this outfit a while back and thinking...

amazing, and then, too good to be true.

There’s an old saying: if it looks like a duck, walks like a duck and quacks like a duck, then it’s probably a duck. Well, from Carreyrou’s groundbreaking Journal stories and recent in-depth interviews, one thing comes through loud and clear. Theranos is under fire for a very good reason: its technology is not ready for primetime. And I wouldn’t be the least bit surprised if it never is.

ICYMI, after a decade in stealth mode, Theranos burst on the scene making exciting claims of breakthrough technology that can quickly process the full range of laboratory tests from a few drops of blood drawn from a finger prick at a fraction of the cost of traditional labs like Quest Diagnostics.

http://www.foxbusiness.com/features/2016/03/07/why-everyone-bought-into-theranos-hype.html