By Reuters
July 21, 2016

Theranos hired two executives to oversee regulatory, quality, and compliance standards, in a bid to turn around the struggling blood-testing company after it received sanctions from U.S. regulators.

Dave Wurtz, who previously worked at Thermo Fisher Scientific (tmo), was appointed vice president, regulatory and quality. He will work on getting FDA clearances and approvals, marketing new products, and look into medical-device quality systems.

Daniel Guggenheim, who formerly served as assistant general counsel at McKesson (mck), will be chief compliance officer. He will make sure that Theranos complies with all state and federal regulations.

Theranos said its board had also created a compliance and quality committee.

The company, once valued at $9 billion, was founded by Elizabeth Holmes in 2003 to develop an innovative blood testing device that would give quicker results using just one drop of blood.

 

Its fortunes, however, waned after the Wall Street Journal published a series of articles starting in October last year that suggested the devices were flawed and inaccurate.

Earlier this month, Holmes was barred from owning or operating a lab for at least two years.

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