Veritas: Veritas Genetics is halting operations in the US

This story was delivered to Business Insider Intelligence Digital Health Pro subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here. The Massachusetts-based startup that sequences customers' entire genomes is "temporarily" pulling the plug on its US operations and is rumored to be on the hunt for a buyer, CNBC reports. While it's withdrawing from the US market, Veritas' service will still be available to customers in Europe and Latin America. The news comes months after the company slashed the prices of its whole genome sequencing product 40% to $600 in an attempt to rope in more consumers.We think shrinking demand for DTC genetic testing services, substantial competition to gain consumer mindshare, and political tensions likely catalyzed Veritas' decision to withdraw in the US.See the rest of the story at Business InsiderSee Also:Novartis is tapping AWS to revamp manufacturing processes with AI and data analyticsHome health agencies are betting on telehealth to grow their businesses over the next couple of yearsPulitzer's new 'audio reporting' category will draw more journalists to podcasting