Newsclip®: [Business] Federal criminal probe of Theranos rings hollow - San Francisco Chronicle

"The company, which investors valued at $9 billion, has run afoul of regulators for not properly managing one of its laboratories. [...] critics say Theranos’ technology, designed to diagnose a host of diseases from a small amount of blood, simply does not work. Before running into trouble, the company also boasted a board of directors heavy on former military officials and secretaries of state but light on medical and regulatory experts — people who might have advised Theranos on how to properly deal with investigators from the Centers for Medicare & Medicaid Services, which recently found that practices in its California testing laboratory “pose immediate jeopardy to patient health and safety.” Even the Securities and Exchange Commission’s parallel investigation of Theranos seems kind of odd, since the agency normally oversees public companies whose shares are widely traded on the market. [...] in all of my time at the U.S. attorney’s", www.sfchronicle.com


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