A new leaked regulatory letter points to the potential to close Theranos and ban its top executives from working in the medical testing industry. The company’s fate is not certain, as it could appeal a ruling or still successfully satisfy regulators.
Last week a Theranos spokesperson indicated to ValueWalk there were no issues with senior management at the company, pointing instead to issues at the Newark, CA testing facility that were being addressed. But today a March 18 letter from regulators has surfaced, revealing that in fact regulators had proposed banning Theranos Inc. founder Elizabeth Holmes and company executives including Ramesh Balwani and Sunil Dhawan from the blood-testing business for at least two years. The harshly worded letter...
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