Theranos just made some big hires to help clean up its act

Theranos has had a tough month.

Earlier in July, the company revealed that its CEO Elizabeth Holmes had been barred from the lab testing industry for two years, putting the once-$9 billion blood-testing startup’s future in doubt.

But it is making some hires that could help the company keep from falling even further from grace.

Theranos announced Thursday that it’s added two new positions to its staff, both reporting up to Holmes:

Daniel Guggenheim, a health lawyer who most recently worked at McKesson as assistant general counsel, will serve as the chief compliance officer, while Dave Wurtz will come in as VP of regulatory and quality. Wurtz, who comes from life sciences company Thermo Fisher Sciences, will be in charge of Theranos’ FDA submissions (which, after getting FDA approval for its herpes test in July 2015, haven’t advanced much in the past year).

Guggenheim will oversee the day-to-day of Theranos’ compliance programs.

Theranos also said in a release that it’s creating a Compliance and Quality Committee that will be headed by Fabrizio Bonanni, who joined the board of directors in May 2015 upon the departure of Theranos’ then-president and chief operating officer Sunny Balwani.

“I want to see the normal, serious work that needs to be done to effect the transformation of the company from an R&D startup to an operating company in the health-care field,” Bonanni told Bloomberg‘s Caroline Chen.

The company still has plans to present its scientific data in an education session at a medical conference in August, when Theranos will have to show whether its technology is as revolutionary as it seems.

NOW WATCH: This incredibly accurate science experiment was centuries ahead of its time

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.