Theranos Proposes Lab Fixes To CMS Regulators
The struggling blood-testing startup's plan comes in response to the Centers for Medicare and Medicaid Services' ruling last month that federal violations at a Theranos lab in Newark, California, put patient safety in “immediate jeopardy.”
Bloomberg:
Theranos Files Plan To CMS For Fixing California Lab Problems
Theranos Inc. filed a plan to U.S. regulators to fix serious deficiencies at the company’s blood-testing lab in Newark, California, as founder Elizabeth Holmes works to regain credibility for her struggling startup. The company submitted the proposed plan of correction late Friday to the Centers for Medicare and Medicaid Services, CMS spokesman Aaron Albright said in an e-mail. (Tracer and Chen, 2/12)
San Francisco Business Times:
Theranos Failure Could Have Broad Impact
There may be a lot more riding on Theranos getting a clean bill of health from regulators than the survival of the Palo Alto blood-testing startup itself. "This is going to be the poster child of lab-developed tests; it's going to be bad for the industry," Bessemer Venture Partners investor Stephen Kraus told Politico."A few burning ashes might become a big fire — that's what I fear." (Schubarth, 2/12)