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ADDENDUM October 7, 2013

Irvine-based Kia Motors America Inc. will add its first all-electric car—a version of the Soul—to its U.S. vehicle lineup next year. The automaker also signed a deal to sponsor YouTube’s upcoming music awards (see related story, page 3).

A federal court ruled in favor of Irvine-based Masimo Corp. in a whistleblower lawsuit filed by three former sales representatives of the company. The U.S. District Court for the Central District of California, Southern Division, granted a summary judgment in favor of Masimo, which makes patient monitors. The court ruled that the plaintiffs’ evidence didn’t demonstrate “any knowingly misleading statements or conduct by Masimo in connection with its medical devices.”

Healthcare-focused investment firm Strathspey Crown Holdings LLC acquired Evolus Inc. in Santa Barbara for an undisclosed amount. Newport Beach-based Strathspey Crown was formed last year to invest in medical device makers and other healthcare technology companies that provide “lifestyle healthcare” services, such as cosmetic surgery and implants. Evolus, also a startup established last year, has a team of scientists and clinicians engaged in research and development of neurotoxins, chemical compounds that target the nervous system. It recently formed a partnership with South Korea-based drug manufacturer Daewoong Pharmaceutical Co. to run clinical tests of the company’s botulinum toxin product and manage regulatory approvals in the U.S. and international markets. The acquisition gives Strathspey Crown’s wholly owned subsidiary, Alphaeon Corp., the exclusive right to market Daewoong’s botulinum toxin in the U.S. and certain other countries, pending approvals. Alphaeon was established in July and is headed by Chief Executive Robert Grant, who also serves as chairman of Strathspey Crown. Grant formerly was chief executive of the surgical division of Bausch & Lomb Inc. in Aliso Viejo. He also served as president of the aesthetics division of Irvine-based drug maker Allergan Inc.

Buena Park-based Alloy Die Casting Co. fetched $16.3 million in its sale to McLean, Va.-based investment company Gladstone Investment Corp. Alloy Die Casting manufactures aluminum and zinc castings used in the aerospace, medical, automotive and industrial sectors. It also provides engineering and technical services. The privately held company was founded in 1946 and currently operates in a 105,000-square-foot facility in Buena Park. It doesn’t disclose financial information.

Walmart Stores Inc. said it plans to hire about 200 workers for a Walmart Supercenter expected to open in the coming months in Garden Grove. The Bentonville, Ark.-based retailer said it’s looking to fill full- and part-time positions. It set up a temporary hiring center at Beach Boulevard and Garden Grove Avenue that’s open Monday through Friday to accept employment applications. The retailer has 25 stores and about 6,000 workers in Orange County.

Irvine-based food processor and distributor Golden State Foods Corp. acquired a controlling stake in KanPak U.S., a desserts and beverages manufacturer in Wichita, Kan. Terms of the deal weren’t disclosed. Larry McGill, formerly president of food processing at GSF, was promoted to chief executive of KanPak, a role filled by Dennis Cohlmia for some 40 years. Cohlmia, son of KanPak’s founder, will serve as the unit’s chairman.

Huntington Beach-based Confie Seguros Insurance Services completed three acquisitions, the latest additions to its rapidly growing portfolio of brokerage firms nationwide. Confie bought James S. Sullivan Agency Inc. and Advanced Auto Insurance, both in New York, and Family Insurance in Texas. Terms weren’t disclosed. Confie, which focuses on Latino-American customers, now has more than 540 offices total in 17 states. It had $200 million in revenue in 2012 and is approaching $300 million this year, according to President Mordy Rothberg.

Business software maker Kofax PLC, which is publicly traded in London but maintains its headquarters in Irvine, has filed a registration statement with the Securities & Exchange Commission for a public offering on the Nasdaq exchange. The company has established a parent company, Kofax Ltd., which will be incorporated in Bermuda and based in Irvine. The size of the planned IPO has not been determined, according to the regulatory filing.

ECONOMIC INDICATOR

UP: Orange County home prices in August, when they jumped 23%, according to Irvine-based data provider CoreLogic. The year-to-year jump was the biggest in nearly nine years. The increase came to 1.5% on a month-to-month basis. The median price of a home here was about $560,000 in August, according to DataQuick Information Systems.

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