this post was submitted on 20 Jan 2024
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This is the best summary I could come up with:
At the time, Holmes claimed to have developed proprietary technology that could perform hundreds of medical tests using just a small drop of blood from a finger prick.
The remarkable claim helped her drive the company's valuation to a stunning $9 billion in 2014, and set up lucrative partnerships.
In today's announcement, the health department noted that the statutory minimum on exclusions for convictions like Holmes' is just five years.
But other factors are considered when determining the term, including how long the fraud took place, the length of the prison sentence, and the amount of restitution ordered.
"As technology evolves, so do our efforts to safeguard the health and safety of patients, and HHS-OIG will continue to use its exclusion authority to protect the public from bad actors."
HHS-OIG also excluded former Theranos President Ramesh Balwani from federal health programs for 90 years.
The original article contains 365 words, the summary contains 144 words. Saved 61%. I'm a bot and I'm open source!