The company had suspended clinical operations earlier this year after being raided by the FBI in May. The raid stemmed from allegations uBiome was billing customers multiple times without their consent, sources told CNBC.
In a press release Sept. 4, uBiome said it plans to “facilitate an orderly and efficient sale of its ongoing business, products in development, technology and lab capabilities.”
Employees will continue to be paid and customers can still obtain gut testing while uBiome seeks a new owner. Interim CEO Curtis Solsvig said that “uBiome’s business will be better positioned for success under new ownership.”
More articles on healthcare finance:
CEO exits amid Tennessee health system’s financial troubles
New York hospital campus to close in October
Cleveland Clinic more than quadruples operating income
