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Theranos CEO Elizabeth Holmes Banned From Owning a Lab (engadget.com)

Posted by BeauHD on from the close-up-shop dept.

An anonymous reader quotes a report from Engadget: The Wall Street Journal reports U.S. regulators have devised to ban the owners and operators of Theranos from running a lab for two years. That includes CEO and founder Elizabeth Holmes, as confirmed by a press release issued tonight. The Centers for Medicare and Medicaid Services (CMS) revoked the lab's Clinical Laboratory Improvement Amendments (CLIA) certificate and imposed a civil money penalty for an unspecified amount. The ban does not take effect for 60 days, however Theranos says it will not do any testing at the Newark, CA lab CMS investigated, and instead will serve customers from its lab in Arizona. Elizabeth Holmes wrote: "We accept full responsibility for the issues at our laboratory in Newark, California, and have already worked to undertake comprehensive remedial actions. Those actions include shutting down and subsequently rebuilding the Newark lab from the ground up, rebuilding quality systems, adding highly experienced leadership, personnel and experts, and implementing enhanced quality and training procedures. While we are disappointed by CMS' decision, we take these matters very seriously and are committed to fully resolving all outstanding issues with CMS and to demonstrating our dedication to the highest standards of quality and compliance."

3 of 146 comments (clear)

  1. Lol Business by Anonymous Coward · · Score: 1, Interesting

    What would she need to own a lab for? She never did any research to begin with?

    Holmes is 100% pure corporate CEO/Board-member. She has connections, extraordinary bullshitting abilities, and is tied in to god knows how many VC and Silicon valley based "ventures". She doesn't need a lab, or scientists, or engineers. She hires the people who hire them.

    Holmes will be back with a bio-med big-data startup within 3 years. Bookmark this post.

  2. She should admit she's a fraud by smooth+wombat · · Score: 4, Interesting

    As the hits keep coming, it might benefit Ms. Holmes to openly admit she's been a fraud from day one. She's ripped off investors with false claims and has endangered people's lives with her false results.

    To date, Theranos has never allowed a peer review of her process, has never submitted to government tests and has admitted they don't use their own testing procedures, instead going back to the tried and true method.

    Give it up, Holmes. Your days are numbered.

    --
    We will bankrupt ourselves in the vain search for absolute security. -- Dwight D. Eisenhower
    1. Re:She should admit she's a fraud by Anonymous Coward · · Score: 2, Interesting

      As the hits keep coming, it might benefit Ms. Holmes to openly admit she's been a fraud from day one. She's ripped off investors with false claims and has endangered people's lives with her false results.

      To date, Theranos has never allowed a peer review of her process, has never submitted to government tests and has admitted they don't use their own testing procedures, instead going back to the tried and true method.

      Give it up, Holmes. Your days are numbered.

      I've followed Theranos rather closely for years. I'm not sure she can admit fraud, because admitting it first means you have to believe it and I don't think she does. The sheer arrogance of the woman is astonishing, to think that she as a college dropout knew more about biochemical testing than thousands of clinical pathologists, and all she had to do was dilute samples to run them on her machine, or it turns out standard machines from Siemens as her machine wasn't even used. Then the non-stop gushing media stories about her being the next Steve Jobs; what a joke. It's no wonder her Board had nothing but politicians on it; the entire company was nothing but propaganda supporting an arrogant narcissist.