Theranos CEO Elizabeth Holmes said Monday the company is taking several steps to correct its lab testing issues.
"We've stopped testing and we've taken the approach of saying 'let's rebuild this entire laboratory from scratch so that we can ensure it never happens again,'" Holmes told NBC's "TODAY" show. "I feel devastated that we did not catch and fix these issues faster."
This was Holmes' first interview since U.S. health regulators proposed banning her Silicon Valley start-up from the blood-testing business for at least two years.
The regulators' move comes after the company failed to fix "major problems" at a California lab, according to a letter from the Centers for Medicare and Medicaid Services obtained by The Wall Street Journal.
Holmes said her company will survive. "I know what we've built and I know what we've created and I know what it means to people and it is a change that needs to happen in the world," she said.
Holmes founded Theranos in 2003 after she dropped out of Stanford University. It's valued at $9 billion.