📺 Stream EntrepreneurTV for Free 📺

Theranos Voids Two Years of Test Results 'We've taken comprehensive corrective measures to address the issues CMS raised in their observations,' a company spokesperson said.

By Reuters

entrepreneur daily

This story originally appeared on Reuters

Reuters | Brendan McDermid
Elizabeth Holmes, CEO of Theranos.

Blood-testing firm Theranos Inc. notified the U.S. federal health regulators that it voided results from its Edison blood-testing devices for two years, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter.

The company informed the Centers for Medicare and Medicaid Services that it has issued tens of thousands of corrected blood-test reports to doctors and patients, nullifying some results and revising others, the Journal reported, citing a person familiar with the matter.

The corrected reports include the Edison results and many tests run on traditional laboratory machines, the Journal said.

"... We've taken comprehensive corrective measures to address the issues CMS raised in their observations. As these matters are currently under review, we have no further comment at this time," a Theranos spokeswoman said in an email.

In April, U.S. federal health regulators had proposed banning the company's founder, Elizabeth Holmes, from the blood-testing business for at least two years after determining that the company failed to fix deficiencies at its California laboratory.

The blood-testing firm which expanded its board to include Dr. Fabrizio Bonanni, a former Amgen Inc. and Baxter International Inc. executive, has been under investigation by several U.S. regulators in the recent past.

Centers for Medicare and Medicaid Services was not immediately available for comment.

(Reporting by Vishal Sridhar in Bengaluru; Editing by Sunil Nair)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

'Everyone Is in Complete Shock': A 500-Person Tesla Team Found Out 'in the Middle of the Night' Their Charger Division Was Laid Off

Other car companies that use the technology, such as General Motors and Ford, also weren't expecting the news, according to reports.

Leadership

How to Strike a Balance Between Technology and Human Connection in the Workplace

The balance between technology and human interaction in the workplace is crucial. As you navigate the fusion of technology and personal interaction in your workplace, find out how to make tech work for your team's human side, not just its productivity goals.

Data & Recovery

Empower Your Team with This $40 Visual Studio Deal

Microsoft Visual Studio empowers coders to program faster and easier with intuitive features and tools.

Growing a Business

5 Ways to Build and Maintain Strong Agency-Client Relationships in a Competitive Market

Strategies for marketing, advertising and PR firms to build solid, long-lasting client relationships — crucial for achieving high retention rates and revenue growth.

Side Hustle

He Started a Salty Backyard Side Hustle That Out-Earned His Full-Time Job and Now Makes Over $1 Million a Year: 'Take the Leap'

In 2011, Kyle Needham turned his passion for oysters into a business that saw consistent monthly revenue "right away."

Business News

Former Students of 'Predatory' Art Institutes Get $6.1 Billion in Loans Erased

The Art Institutes chain shuttered the last of its campuses in the fall of 2023.