Good morning, readers—this is Sy.
We’re currently in the throes of closing the May issue of Fortune (which will include an extensive digital health package that I hope you’ll check out), so today’s Daily will be a little short. We’ll be back with far more coverage tomorrow. In the meantime, here’s one big piece of health care news for your morning: Theranos’ new deal with the federal government.
Read on for the details.
Theranos deals with the federal government. Theranos has been in desparate need for some good news. On Monday, it finally got some. The troubled blood testing upstart has struck a deal with federal regulators that will substantially slash the civil fines levied on it by the Centers for Medicare and Medicaid Services (Theranos says it will now have to pony up just $30,000). In exchange, Theranos will have to stay out of the blood testing business for at least two years. The company had pulled out of the clinical laboratory and retail business last year following a string of legal, business, and regulatory disasters surrounding its "nanotainer" tech. (Fortune)
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