US regulators want to ban Elizabeth Holmes from Theranos for 2 years

Theranos CEO Elizabeth Holmes and President Sunny Balwani may be banned from the blood-testing business for two years, according to a report from the Wall Street Journal.

In a letter uploaded by The Journal, the Centres for Medicare and Medicaid Services said it plans to revoke Theranos’s California lab’s licence. The other letter, not yet released to the public, details the two-year suspension of Balwani and Holmes, which would bar them from owning or operating any lab.

The sanctions, per the March 18 letter, were, “Based on the finding of immediate jeopardy and the laboratory’s failure to meet all CLIA Condition-level requirements, and based on the failure by the owners and director of the laboratory to comply with certificate requirements and performance standards as evidenced by the deficiencies cited during the CLIA certification and complaint survey completed on December 23, 2015.”

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