Theranos is on to a great year and just within the first quarter, the company has achieved so much in resolving the crises that once rocked its operations. Judging by the caliber of the existing and new experts added to the company's team in 2016, with an indefatigable CEO, Elizabeth Holmes, it is reasonable to project that 2017 will go down as a great year for Theranos.

Lab-operating licenses

In April, Theranos announced that it had amicably resolved the legal and regulatory issues it had with the Centers for Medicare and Medicaid Services (CMS), a U.S.

federal agency that regulates all laboratory testing performed on humans in the U.S.

Though Theranos is not allowed to operate a clinical laboratory for the next two years due to CMS' ban, the agency does not revoke its lab-operating license.

Similarly, Theranos had reached an agreement with Arizona Attorney General to reimburse all the amounts paid by Arizona residents for Theranos tests between 2013 and 2016. This agreement resolves both the current and future claims against the company. With this resolution, Theranos is free to return to serving Arizona residents after two years.

A stunning comeback

In 2019, Theranos will be legally free to make a stunning re-entry into the laboratory testing world.

It is also going to be an exciting time for the company as it concentrates on commercializing its revolutionary blood-testing technology, MiniLab.

Theranos' MiniLab is an automated, portable diagnostic device that is comparable to a microwave oven in shape. You can run blood tests on it by processing and analyzing small samples of blood.

Its compactness makes it fit for a small space such as in one's home, school, local laboratory, and offices. MiniLab comes with its associated chemistries, all proprietarily developed by Theranos.

A lesson in crisis management

Elizabeth Holmes, the Founder, and CEO of Theranos was once asked by LinkedIn's Reid Hoffmann about how she was managing the crisis faced by her company.

She responded (paraphrased): "We keep our heads down and work hard and refuse to acknowledge the opinions of the naysayers."

Considering the recent developments in her company, Ms. Holmes may be sending a very strong message of hope to other businesses going through their weak moments that it is important to be resilient.

Don't miss our page on Facebook!