HEALTHCARE

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

2017 Year in Review: Healthcare

Allergan PLC’s (NYSE: AGN) transfer of patents on its blockbuster dry-eye drug Restasis to a Native American Tribe in September is not only a top story this year, but one that will continue unfolding into 2018.

Providence St. Joe Might Merge

Providence St. Joseph Health and Ascension Health are discussing a merger that would create the largest hospital system in the U.S., news reports said.

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Edwards Pays $100M for Mitral Device Maker

Edwards Lifesciences Corp. in Irvine bought Harpoon Medical Inc. in Baltimore on Dec. 1 for $100 million; milestone payments over the next decade could bring the total price to $250 million.

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Avanir Restructures, Will Cut 11% of US Workforce

Avanir Pharmaceuticals Inc. will lay off 73 employees by the end of January from its US work force as part of a restructuring. We’re told the majority will be outside of its Aliso Viejo headquarters.

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RxSight Gets FDA OK

RxSight Inc. received Food and Drug Administration approval for its Light Adjustable Lens technology.

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Device Maker Raises $2.9M

Irvine-based Modulated Imaging Inc. said today it closed a Series A funding round of about $2.9 million.

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ICU Guides EBITDA Up

ICU Medical Inc. in San Clemente reported revenue of about $343 million in its most recent quarter, compared with about $97 million in the same period prior year.

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ChromaDex Sales Up in Q3

Irvine-based ChromaDex Corp. reported $6.1 million in sales for its most recent quarter, up 55% year-over-year, and a net loss of $3.2 million, about 30% more than the same period last year.

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MemorialCare to Close LB Hospital

Community Medical Center Long Beach, one of Fountain Valley-based MemorialCare Health System’s three hospitals in the area, will soon close due to not meeting earthquake building standards.

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ChromaDex Lands $23M Private Placement

Irvine-based ChromaDex Corp. will sell more than 5.6 million shares of its common stock at a purchase price of $4.10 per share, or about $23 million.

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Prosthetics Maker Freedom Innovation Ups Game

HEALTHCARE: Merged with Ottobock, plans IPO in 2 years

When your private equity investor wants to cash out, it’s often with a sale. Irvine-based Freedom Innovations LLC said it couldn’t be happier with a strategic partner like German prosthetics maker Ottobock.

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OCTANe Pivots to Later-Stage Cos.

Plans to Move Upmarket And Grow Reg’l Presence

OCTANe was created in 2002 to bring together resources, expertise and capital to help grow biomedical and information technology startups.

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Hoag Orthopedic Taps St. Joseph Hoag CFO to Lead

HEALTHCARE: Plans to partner to grow outpatient care

Irvine-based Hoag Orthopedic Institute, a unique for-profit joint venture comprised of two groups of orthopedic surgeons and a nonprofit hospital, is positioned for growth with a new chief executive at the helm.

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CalChoice Seeks to Remain Competitive on Price

Launch Rate Parity Plan From Kaiser Next Year

The current healthcare bill debate primarily impacts the individual market, but uncertainty remains for insurers and carriers.

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Allergan Q3 Beats, Street Not Impressed

Allergan PLC grew sales by 11% in the third quarter, led once again by its flagship drug BOTOX.

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HCP to Reduce Brookdale Concentration

HCP Inc. fronted its quarterly earnings report by giving some specific ways it will cut from 27% to about 16% the amount its Brookdale Senior Living unit contributes to earnings.

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