Theranos CEO Elizabeth Holmes banned from running lab for 2 years

Officials also revoke regulatory approval for Theranos's California lab, months after company acknowledged regulatory investigation

US regulators have banned Theranos founder and CEO Elizabeth Holmes from owning and running a medical laboratory for two years, the company announced on Thursday. The Center for Medicare and Medical Services also revoked regulatory approval for Theranos' California Lab.

The announcement comes months after the company admitted to being investigated by several regulators following a series of reports from the Wall Street Journal. Theranos claimed that its technology enabled it to perform blood tests with just a pinprick, instead of a traditional blood draw. In October 2015, Theranos employees interviewed by the Wall Street Journal cast doubt over those claims and the accuracy of the company's tests.