Blood-testing company Theranos Inc. will exit the clinical laboratory business for two years and pay Arizona consumers $4.65 million for faulty blood tests in settlements with the Centers for Medicare & Medicaid Services (CMS) and the state of Arizona.
The settlements, which resolve all outstanding legal and regulatory proceedings between Theranos, the CMS and the Arizona attorney general’s office, represent an end to just two of the multiple battles the company has been fighting in recent years.
Federal prosecutors and the Securities and Exchange Commission have been investigating whether Theranos misled consumers about the validity of its blood tests, and ...
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