Search Results for theranos

TTA’s Swinging Summer 4: Oracle chops Cerner, DOJ and UHG in court, Cera raises big, dementia care advances, plus NHS Digital, Cionic, VA, Coviu, Withings, more!

...raises £2.8M, WeWALK £1.7m in funding Thursday news roundup: RVO Health JV combines Optum-RV Health consumer health assets; Holmes sentencing for Theranos fraud delayed (RVO Health all about the patient engagement) The clunk continues: Q2 2022 digital health funding fades to $4.1B in Q2, down 50% from 2021 (Back to 2019 if we’re lucky) Summer’s in swing and resembling a normal season, but are there July-type storm clouds on the horizon (other than inflation and government upheaval, of course)? Certainly, the day he knew would arrive finally did for Theranos’ Sunny Balwani. The Feds may not stop at telemental health... Continue Reading

TTA’s Swinging Summer 3: Amazon’s One Medical buy, Oracle fixing Cerner’s VA EHR problems, investment revival, companies shed real estate and people, more

...Health consumer health assets; Holmes sentencing for Theranos fraud delayed (RVO Health all about the patient engagement) The clunk continues: Q2 2022 digital health funding fades to $4.1B in Q2, down 50% from 2021 (Back to 2019 if we’re lucky) Summer’s in swing and resembling a normal season, but are there July-type storm clouds on the horizon (other than inflation and government upheaval, of course)? Certainly, the day he knew would arrive finally did for Theranos’ Sunny Balwani. The Feds may not stop at telemental health prescribing but look at reimbursed telehealth billing. The NoKos are sowing Maui ransomware all... Continue Reading

Thursday news roundup: RVO Health JV combines Optum-RV Health consumer health assets; Holmes sentencing for Theranos fraud delayed

...in Charlotte, North Carolina. Unannounced is who will be managing RVO Health. FierceHealthcare, Becker’s Ironically, Healthline Media’ main competitor, WebMD, bought the former data analytics part of Healthgrades, Mercury Healthcare, on 29 June (release). Elizabeth Holmes gets a three-week extension on her freedom. Her sentencing, originally scheduled for 26 September at the US District Court, Northern District of California, in San Jose has been moved to 17 October. No reason was given by the court for the extension. Judge Edward Davila will be presiding over the sentencing on four of the original 11 Theranos wire fraud charges [TTA 4 Jan].... Continue Reading

Verdict Balwani: guilty on all 12 Theranos fraud charges

Breaking. A not-so-bright day for Sunny Balwani in the US District Court, Northern District of California, in San Jose. Today, after five days of deliberations, the jury returned verdicts on the ‘summer rerun’ of the two Theranos trials, that of former president Ramesh ‘Sunny’ Balwani. Unlike CEO Elizabeth Holmes, Balwani was found guilty of all 12 criminal fraud charges. Each of the 10 wire fraud counts carries a maximum of 20 years imprisonment in Federal prison, plus a $250,000 fine and restitution on each count. The two additional conspiracy to commit wire fraud charges carry five years each. No date... Continue Reading

Theranos Summer Rerun: Sunny Balwani trial verdict countdown analysis (updated)

Our last update on the Summer Rerun of the Theranos trial, a/k/a Rock and Hard Place or Blood Out Of A Stone, was that the defense rested. It was definitely souffle-grade–Balwani’s late entry to the company, investment of his own millions, and never selling a share. There is no breathless coverage of the trial–no sensational new revelations of cheated investors or psychological violence claims, just near-identical charges (12) mostly of wire fraud with the prosecution methodically setting up Balwani with full knowledge of the cheating with the labs and defrauding of investors. [TTA 23 Mar, 16 June], Now it’s up... Continue Reading

Thursday news roundup: FTC now investigating Cerebral, Balwani’s Theranos trial rests at last, Proscia pathology AI $37M Series C, health data breaches pile up

...booting of the CEO and co-founder, and a wrongful dismissal lawsuit by a former VP of product and engineering, Matthew Truebe. Certainly, its investors led by SoftBank, which raised $300 million in December less than six months after a raise of $127 million, are unhappy at watching their $4.8 billion baby crash and burn. The second “rerun” Theranos trial of Sunny Balwani rests. This much-muted trial is winding towards its close. Receiving much less breathless and near-sensational coverage than Elizabeth Holmes’, Theranos president Balwani was tried in the same San Jose Federal district court, with the same prosecutor (Robert Leach),... Continue Reading

The Theranos Trials, ch. 3: Sunny and Elizabeth were in it together, all the way

...its due diligence. Theranos handed over a hard drive to the Department of Justice with encrypted test data for more than 9 million Theranos patients back in 2018. The DOJ didn’t analyze that database, and therefore, Cazares argued, the government cannot definitively say how well or not well Theranos’ technology worked.” It’s an interesting limb but given the Holmes convictions, feels to this Editor like one that’s easily sawed off. The first witness called was Erika Cheung, the Theranos lab associate who became a whistleblower. Court ended before she got to any statements, but in the Holmes trial she stated... Continue Reading

The Theranos Trials, ch. 2: bail tightened for Holmes, previewing the Balwani trial, and ‘The Dropout’

...of 4 March with hearings in June. Ms. Holmes does own property, though it is unknown what her remaining assets are since she never sold her Theranos holdings. Her partner and family can help her with the requirement. Mercury News (paywalled, but refresh) The Trial, ch. 1 Meanwhile, Sunny Balwani’s trial in the same Federal District court and with Judge Davila starts next Wednesday 9 March with jury selection. Balwani was indicted in 2018 on the same charges as Holmes’ but his trial was severed from Holmes’ when her defense raised charges of abuse. Judge Davila is making moves to... Continue Reading

The Theranos Trials, ch. 1: Holmes sentencing to be 26 September, three mistrial charges dropped, appeal dates set

Yesterday, Elizabeth Holmes’ next few months were outlined for her. Her sentencing for the four charges on which she was convicted [TTA 4 Jan] will be 26 September by the trial judge, Judge Edward Davila. The delay in sentencing due to the ‘ongoing proceeding’ of the Sunny Balwani trial (scheduled to start 15 March) was revealed in a joint filing by the prosecution and Holmes’ defense. The filing confirmed that the prosecution would file a motion today (Friday) to dismiss the three deadlocked charges and that she will remain out of custody on a $500,000 bond secured by personal property,... Continue Reading

Breaking–The Trial of Elizabeth Holmes, ch. 16: guilty on four charges of 11

Breaking. Elizabeth Holmes, founder and CEO of Theranos, was found guilty on four charges of wire fraud of the 11 charges brought by the prosecution. The guilty charges are, according to the reports in the New York Times and the Mercury News (paywalled, but keep refreshing), all related to wire fraud against investors. Counts six through eight are fraud against specific investors. The TTA articles relating to each are linked. Count one of conspiring to commit wire fraud against investors in Theranos between 2010 and 2015 Count six of wire fraud in connection with a wire transfer of $38,336,632 on... Continue Reading