Medical devices save or restore thousands of patient lives every year, but the dark side to medtech innovation is increasingly drawing attention. For all the good the industry does, it’s worth remembering that the costs can be high – even fatal – when medical device companies don’t get things right. The examples range from women […]
Theranos whistleblower Tyler Shultz to participate in keynote interview at DeviceTalks Boston
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. DeviceTalks is excited to announce that Tyler Shultz will be the closing keynote speaker at DeviceTalks Boston. Shultz will take attendees behind the story that […]
Report: Theranos lays off most of its remaining workforce to stay afloat
Scandal-ridden blood testing company Theranos is laying off the majority of its workforce as it looks to stay afloat and delay bankruptcy for a few more months, according to a report from the Wall Street Journal posted on Tuesday. With the new layoffs, the company is reducing its headcount from approximately 125 employees to two […]
SEC charges Theranos, CEO Holmes with ‘Massive Fraud’
The US Securities and Exchange Commission today charged controversial blood-testing developer Theranos, founder & CEO Elizabeth Holmes and former prez Ramesh Balwani with “massive fraud” – charges which Theranos and Holmes have agreed to resolve, according to the SEC. Charges include claims that the company raised more than $700 million from investors in “an elaborate, […]
UPDATE: Theranos agrees to 2-year labs ban
Theranos said yesterday that it reached an agreement with the Centers for Medicare & Medicaid Services and that it will stay out of the blood-testing biz for 2 years in exchange for reduced penalties. The settlement reportedly resolves all outstanding legal and regulatory proceedings between the 2 groups, Theranos said. According to the agreement, CMS has withdrawn […]
Report: Theranos trades extra shares for vows not to sue
Theranos is looking to avoid lawsuits from investors by offering them additional shares if they promise not to sue the company, according to a Wall Street Journal report. Shares to be offered will come from CEO Elizabeth Holmes personal stake in the company, which may cause the founder to lose a majority ownership in the blood-testing […]
Failure to thrive: Lessons learned from medtech innovations that missed the mark
Some of the medical device industry’s most heralded disruptors wound up being its biggest failures. Here’s what we can learn from their mistakes. Fink Densford, Associate Editor No one in medtech sets out to fail. No one invests in building a device believing that, despite years of research and development, it won’t make the cut. […]
Schellhorn out, Emerson in as Monteris CEO | Personnel Moves July 25, 2016
Schellhorn out, Emerson in as Monteris CEO Monteris Medical said last week it tapped ex-Galil Medical prez & CEO Martin Emerson as its new president and chief executive officer, replacing John Schellhorn who left earlier this year. Emerson spent 8 years as prez & CEO of Galil Medical, which was acquired in June this year […]
Theranos sued over blood tests, in proposed class action
(Reuters) – Blood-testing company Theranos Inc was sued on Thursday, accused of endangering customer health through “massive failures” that misrepresented the accuracy and quality of its blood tests, according to court papers. The proposed class action was brought in the U.S. District Court for the Northern District of California by the law firm Hagens Berman […]
US regulators aim to ban founder of blood-testing firm Theranos
(Reuters) – U.S. federal health regulators have proposed banning Theranos Inc founder Elizabeth Holmes from the blood-testing business for at least 2 years after determining that the company failed to fix certain problems at its California laboratory, the Wall Street Journal reported. The Centers for Medicare and Medicaid (CMS), in its letter dated March 18, said […]
FDA flags quality issues at Theranos plant
(Reuters) — The FDA flagged quality issues at privately held laboratory operator Theranos‘ manufacturing plant in Newark, Calif., after inspections in August and September. Theranos’ main product is the Capillary Tube Nanotainer, 1 of 2 kinds of tiny vials used to collect blood from patients. The company, which has a valuation of $9 billion, promises to shake up medical testing […]
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