Theranos Inc.’s Chief Executive Officer Elizabeth Holmes was bannedfor two years from owning or operating laboratories by U.S.regulators, a major blow against the controversial blood-testingstartup that’s come under scrutiny for risking patient harm withunreliable tests.
Related: Walgreens ditches Theranos
The once high-flying Silicon Valley company was also penalizedfor an undisclosed amount and lost its eligibility to get paymentsfrom federal health insurance programs for lab services, accordingto a statement late Thursday from Theranos, citing a notice itreceived from the Centers for Medicare and Medicaid Services. Theclosely-held firm is shutting down its Newark, California, lab andplans to rebuild it, Holmes said.
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