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Theranos’ health takes a turn for the worse

Jaclyn Jaeger | July 13, 2016

The health of ailing biotech start-up Theranos took a turn for the worst last week, when the Centers for Medicare & Medicaid Services imposed numerous sanctions on the firm following a review last year of its laboratory operations, which uncovered numerous compliance violations.

First, a bit of background: Founded in 2003 by CEO Elizabeth Holmes, the healthcare technology company quickly became a Silicon Valley darling—valued at more than $9 billion—for its self-proclaimed “breakthrough advancements” in blood-testing technologies. Theranos claims that it has come up with a way for laboratories to run a broad range of medical tests using micro amounts of blood, rather than the traditional method of drawing several test tubes of blood through a needle in a vein.

Theranos’ promising future took a blow last year, however, after a...

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