Theranos founder Elizabeth Holmes banned for two years

[n2doc]

Embattled biotech company Theranos says that federal regulators have revoked the license of its California blood-testing facility and banned founder Elizabeth Holmes from owning or operating a laboratory for two years.

Theranos said it was notified of the sanctions by the Centers for Medicare and Medicaid Services on Thursday.

The company faces a civil financial penalty, and regulators have also canceled the lab's approval to receive Medicare and Medicaid payments.

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http://money.cnn.com/2016/07/08/technology/theranos-elizabth-holmes-banned/index.html

[MineralMan]

1. I've been following the Theranos and Holmes

story since the very beginning. She was a media darling in the beginning, but I always wondered whether the technology was up to the job. I suspected not. She enlisted the help of a lot of people, perhaps through her personality, but the technology could not live up to its promise.

It's been an interesting saga to observe. A good story and an interesting entrepreneur are often a false front that ends up as a failure. That's what happened here.