{"id":96512,"date":"2016-07-21T14:49:46","date_gmt":"2016-07-21T14:49:46","guid":{"rendered":"http:\/\/healthmedicinet.com\/i\/theranos-hires-executives-in-regulatory-compliance-push\/"},"modified":"2016-07-21T14:49:46","modified_gmt":"2016-07-21T14:49:46","slug":"theranos-hires-executives-in-regulatory-compliance-push","status":"publish","type":"post","link":"http:\/\/healthmedicinet.com\/i\/theranos-hires-executives-in-regulatory-compliance-push\/","title":{"rendered":"Theranos hires executives in regulatory, compliance push"},"content":{"rendered":"<p><span id=\"articleText\"><br \/>\n<span id=\"midArticle_start\" \/><\/p>\n<p><span class=\"focusParagraph\"><\/p>\n<p><span class=\"articleLocatio\/spann\">Blood-testing company Theranos Inc said on Thursday it hired two executives to oversee regulatory, quality and compliance standards, as the company tries to recover from a series of regulatory sanctions and investigations.<\/span><\/p>\n<p><\/span><span id=\"midArticle_0\" \/><\/p>\n<p>The company named former Thermo Fisher Scientific Inc (<span id=\"symbol_TMO.N_0\">TMO.N<\/span>) executive Dave Wurtz vice president, regulatory and quality. <\/p>\n<p><span id=\"midArticle_1\" \/><\/p>\n<p>Daniel Guggenheim, who previously served as assistant general counsel at McKesson Corp (<span id=\"symbol_MCK.N_1\">MCK.N<\/span>), was appointed as chief compliance officer. <\/p>\n<p><span id=\"midArticle_2\" \/><\/p>\n<p>Theranos, once valued at $9 billion, was founded by Elizabeth Holmes in 2003 to develop a blood testing device that would deliver quicker results using only a drop of blood.<\/p>\n<p><span id=\"midArticle_3\" \/><\/p>\n<p>The company came under pressure after the Wall Street Journal published a series of articles beginning October last year that suggested the devices were flawed.  <\/p>\n<p><span id=\"midArticle_4\" \/><\/p>\n<p>Earlier in July, Holmes, once touted as the Steve Jobs of biotech for her innovative technology, was barred by a U.S. regulator from owning or operating a lab for at least two years.<\/p>\n<p><span id=\"midArticle_5\" \/><\/p>\n<p>        <span class=\"first-article-divide\" \/><\/p>\n<p>The ban, among other sanctions, came six months after the regulator sent a scathing letter to the company, saying its practices were jeopardizing patient health and safety.<\/p>\n<p><span id=\"midArticle_6\" \/><\/p>\n<p>Theranos is also facing a class action lawsuit filed in May accusing it of endangering customer health through &#8220;massive failures&#8221; that misrepresented test results. <\/p>\n<p><span id=\"midArticle_7\" \/><\/p>\n<p>The company is also being investigated by other federal and state agencies.<\/p>\n<p><span id=\"midArticle_8\" \/><\/p>\n<p>        <span class=\"second-article-divide\" \/><\/p>\n<p>Last month, Forbes estimated that the startup&#8217;s value had shrunk to $800 million. <\/p>\n<p><span id=\"midArticle_9\" \/><\/p>\n<p>&#8220;If the company wants regulators to take its claims of self-reform seriously, Holmes has to leave,&#8221; Professor Eric Gordon of the Ross School of Business at the University of Michigan said in an emailed statement.<\/p>\n<p><span id=\"midArticle_10\" \/><\/p>\n<p>        <span class=\"third-article-divide\" \/><\/p>\n<p>On Thursday, Palo Alto, California-based Theranos said its board had also created a compliance and quality committee.<\/p>\n<p><span id=\"midArticle_11\" \/><\/p>\n<p \/><span id=\"midArticle_12\" \/><\/p>\n<p \/><span id=\"midArticle_13\" \/><\/p>\n<p \/><span id=\"midArticle_14\" \/><\/p>\n<p> (Reporting by Anya George Tharakan and Natalie Grover in Bengaluru; Editing by Sayantani Ghosh and Sriraj Kalluvila)<\/p>\n<p><span id=\"midArticle_15\" \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blood-testing company Theranos Inc said on Thursday it hired two executives to oversee regulatory, quality and compliance standards, as the company tries to recover from a series of regulatory sanctions and investigations. The company named former Thermo Fisher Scientific Inc (TMO.N) executive Dave Wurtz vice president, regulatory and quality. Daniel Guggenheim, who previously served as <a class=\"read-more-link\" href=\"http:\/\/healthmedicinet.com\/i\/theranos-hires-executives-in-regulatory-compliance-push\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-96512","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/posts\/96512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/comments?post=96512"}],"version-history":[{"count":0,"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/posts\/96512\/revisions"}],"wp:attachment":[{"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/media?parent=96512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/categories?post=96512"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/healthmedicinet.com\/i\/wp-json\/wp\/v2\/tags?post=96512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}