Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...

Innovation Institute Scales as Incubator/Investor

HEALTHCARE: Broadens fund strategy with LRV, real estateHospitals are tasked with making care more accessible, efficient and affordable. One way to do that is through health tech.

Feds Seek Third Try at Mazzo

Justice Department lawyers said this week they plan to try medical-device executive Jim Mazzo for a third time for violating insider trading rules after two prior efforts ended in hung juries.

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Providence St. Joe Gets New COO

Providence St. Joseph named Victor Jordan chief operating officer for Providence St. Joseph Health Southern California, effective March 26.

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Hoag Takes Classic Sponsorship

Hoag Memorial Hospital Presbyterian in Newport Beach has assumed the title sponsorship of Orange County’s only PGA Tour event, renaming it the Hoag Classic.

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AcuFocus Sells Kamra Technology

Seattle-based SightLife Surgical Inc. will buy the Kamra inlay from AcuFocus Inc. in Irvine on undisclosed terms in a deal expected to close this month.

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MemorialCare Closes Hospital

Long Beach Medical Center filed a 120-day lease termination notice on behalf of Community Medical Center Long Beach.

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Avid CFO Resigns

Biologics manufacturer Avid Bioservices Inc. announced Chief Financial Officer Paul Lytle resigned, effective May 24.

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Endologix CEO Out

Endologix Inc. Chief Executive John McDermott resigned.

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Nemus Raises $1.75M

Nemus Bioscience Inc. (OTCQB: NMUS) received a $1.75 million private placement from majority shareholder Emerald Health Sciences Inc. and other investors.

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Avid Expects $20M from Secondary Offering

Tustin-based Avid Bioservices Inc. yesterday priced a public offering of 9 million shares of common stock at $2.25 apiece, and expects more than $20 million in gross proceeds after the offering closes next week.

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Mazzo Retrial to Jury

For the second time in a year, the fate of Jim Mazzo is in the hands of a federal jury. Prosecutors are again alleging that the founder and former chief executive of Advanced Medical Optics (AMO) violated insider trading laws when he disclosed to his friend and Laguna Beach neighbor Doug DeCinces that his company was being bought by Abbott Laboratories.

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Avid Sells Oncology Drug

Avid Bioservices Inc. in Tustin will sell its clinical-stage immunotherapy cancer drug candidate to Oncologie Inc. for $8 million upfront—with payments spread over six months—and up to $95 million in development, regulatory and commercialization milestones.

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J&J-Backed ReVision Optics Closes

Lake Forest-based ReVision Optics Inc. has shut down saying, “it is with regret, that we have to close our doors.”

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Evolus Prices IPO

Irvine-based Evolus Inc. priced its initial public offering of five million shares of common stock at $12 per share, the low end of an earlier-announced $12 to $14 range.

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UCI's Federoff Resigns Health Post

University of California-Irvine accepted the resignation of Howard Federoff, vice chancellor of health affairs and chief executive of UCI Health System.

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Allergan Q4 Strong

Allergan PLC reported strong fourth-quarter revenue of $4.3 billion, up 12% from a year earlier, and full-year revenue of nearly $16 billion, a 9.4% increase.

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