Theranos CEO Elizabeth Holmes is ‘devastated’ by federal doubts

Elizabeth Holmes speaks up

Theranos CEO Elizabeth Holmes said Monday that her company is taking steps to fix issues with its blood testing product.

“We’ve stopped testing and we’ve taken the approach of saying ‘let’s rebuild this entire laboratory from scratch so that we can ensure it never happens again,'” Holmes told NBC’s “TODAY” show.

Holmes then said she feels “devastated” that officials at Theranos didn’t “catch and fix these issues faster.”

US health regulators recently proposed banning Holmes from her Silicon Valley start-up for at least two years.

Regulators are upset that Holmes and Theranos have failed to fix “major problems” at a California lab, according to a letter from the Centers for Medicare and Medicaid Services obtained by The Wall Street Journal.

Holmes in the meantime has continues to stand behind her companies attempts. “I know what we’ve built and I know what we’ve created and I know what it means to people and it is a change that needs to happen in the world,” she said.

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Holmes founded Theranos in 2003 after she dropped out of Stanford University. Despite a failed product that may have potentially put lives in danger, the company is still valued at $9 billion.

Written by John Howard

John Howard

John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business. He can be reached at College Reviews.