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Triple Net Unit Buys Medical Building in Long Beach

NNN Healthcare/Office REIT Inc., part of Santa Ana-based Triple Net Properties Inc., has bought St. Mary Physicians Center in Long Beach.

The real estate investor paid $13.8 million for the 67,000-square-foot medical office building at 1043 Elm Ave.

The center sold for nearly $206 per square foot.

The 15-year-old building is on the campus of St. Mary Medical Center, a 539-bed hospital owned by Catholic Healthcare West.

NNN Healthcare bought the building from St. Mary Physicians Center LLC, which was represented by Michael Lawrence and David Black of Marcus & Millichap Real Estate Investment Services. The building is 82% full with 12 tenants.

Daniel Prosky, vice president of acquisitions for NNN Healthcare, said in a release that “attractive medical office buildings” such as St. Mary Physicians are prized by the company.

Prosky is a veteran of Health Care Property Investors Inc., a real estate investment trust that moved to Long Beach from Newport Beach in 2004.

Triple Net invests in real estate on its own and by pooling together investors for buys. The company and its affiliates own and manage almost 36 million square feet of space, with a combined market value near $5 billion. Triple Net formed its unit to buy healthcare real estate last year.

Edwards Gives $5M to UCI

Irvine heart valve maker Edwards Lifesciences Corp. gave $5 million earlier this month to the University of California, Irvine’s Henry Samueli School of Engineering to start a research and development center for heart devices.

The Edwards Lifesciences Center for Advanced Cardiovascular Technology’s programs is set to be directed by UC Irvine’s biomedical engineering department. It’s also slated to have involvement from other parts of the university, including the School of Medicine, the School of Biological Sciences and the Beckman Laser Institute.

UCI is holding a national search to find a director for the center, which is going to be in a building under construction on campus. That building is set to be finished in 2009.

Edwards is giving the money through its Edwards Lifesciences Fund. Chief Executive Michael Mussallem said Edwards was proud to partner with UCI “to establish a center devoted to transformational cardiovascular technology research,” in a statement.

UCI created its biomedical engineering department in 2002. It focuses on education, training, research and technology in areas like biomedical lasers, manufacturing miniature medical devices and developing computer simulations.

NeoMatrix Raises $9.6M

NeoMatrix Inc., an Irvine medical testing company, has raised $9.6 million in a third round of funding.

The company said it would use the money to expand sales of its Halo system, which is designed to test women for atypical ductal hyperplasia, which can be a precursor to breast cancer.

NeoMatrix didn’t disclose the investors.

It did say it added a pair of directors: Anthony Ciabattoni, an entrepreneur who serves as an adviser for Waveland Capital Group LLC of Irvine, an investment banking firm that raises money for early stage companies, including NeoMatrix; and Richard Franco, chief executive of Dara BioSciences Inc., a Raleigh, N.C. private drug development company.

Bits and Pieces:

Accenx Technologies Inc., an Irvine maker of electronic medical records software, received $3 million in a first round of funding from National Health Care Services, the venture capital arm of Long Beach-based Memorial Health Services. Accenx said it would use the money to hire more sales representatives and to put in product implementation teams UCI Medical Center in Orange said it picked Gradepoint Inc., a Detroit company, to help it develop a corporate learning center to teach the hospital’s employers how to use Eclipsys, an electronic medical record system it’s putting in Newport Beach-based TriZetto Group Inc. introduced its premier partnership program, which it said offers healthcare and benefit administrators access to its software and services, including its QicLink claims administration software.

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