That firmware is pretty stable. So, I would try
1. Reboot phone.
2. Check AA battery voltages.
3. Try another phone if possible (just to isolate the problem to the meter or the phone).
Also, I have occasionally got the Initialization Failed and I then try a couple of times to connect to the meter again (not scan again, just connect again).
Please report back any success or failure for the benefit of others who might run into the same issue.
– — Duane