Orange County Business Journal

HEALTHCARE

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

Allergan PLC has acquired Chase Pharmaceuticals, a clinical-stage biopharmaceutical company that focuses on drugs for Alzheimer’s disease. The acquisition price includes an upfront payment of $125 million, with additional regulatory and sales milestones part of the deal.

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Link Joins Allegro Board

Allegro Ophthalmics LLC in San Juan Capistrano named Bill Link to its board.

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Herberts Pledge $5M to Eye Institute

Gavin and Ninetta Herbert will give $5 million to the Gavin Herbert Eye Institute to back retinal research into diseases that include glaucoma, diabetic retinopathy and retinal detachment.

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St. Joseph Expands Home Nursing

Providence St. Joseph Health in Irvine plans to expand its home health care services franchise offerings by 50% over the coming year.

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Exec Shuffle at REIT

Irvine-based HCP Inc. appointed Chief Financial Officer Tom Herzog chief executive and to its board of directors, and Chief Investment Officer Justin Hutchens to the president’s role, effective in January 1, 2017.

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Masimo Gets $5M From Gates Foundation

Masimo Corp. received a $4.95 million grant from Bill & Melinda Gates Foundation in advance of World Pneumonia Day.

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ReVision Raises $32M

ReVision Optics Inc. in Lake Forest raised $32 million in an equity round led by Johnson & Johnson Development Corp. in New Brunswick, N.J.

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Windjammer Gets Lab Gear Maker

Windjammer Capital Investors in Newport Beach acquired on undisclosed terms Advanced Instruments, LLC in Norwood, Mass.

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Masimo in $300M Patent Settlement

Masimo Corp. will receive $300 million in this fiscal quarter from Koninklijke Philips NV to end their patent disputes.

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HCP to Sell 64 Properties for $1.1B

Irvine-based HCP Inc. has agreed to sell a portfolio of 64 properties leased to Brookdale Senior Living Inc. for $1.1 billion to affiliates of Blackstone Group in New York.

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Medical Services Firm Gets $30M

ConcertoHealth in Irvine raised $30 million from current investors in a round co-led by Arboretum Ventures in Ann Arbor, Mich., and Deerfield Management Company LP in New York.

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Hoag Gets Stroke Center Nod

Newport Beach-based Hoag Memorial Hospital Presbyterian has been certified as a “Comprehensive Stroke Center” by Milford, Ohio-based DNV GL Healthcare USA Inc.

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OCTANe Adds Growth Group

OCTANe in Aliso Viejo formed a division it dubbed ‘Growth Services,’ to increase “resources, intelligence, capital and deal flow,” for the group’s members, partners, investors, entrepreneurs and accelerator alumni, Chief Executive Bill Carpou said.

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Allergan’s Saunders Adds Chairman Role

Allergan Plc President and Chief Executive Brent Saunders is now also Chairman of the drug maker’s board of directors, replacing Paul Bisaro.

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Edwards Shares Fall on Sapien Sales

Shares of Edwards Lifesciences Corp. in Irvine fell 15% to about $96.50 a share and a $20 billion market cap on a lower-than-expected increase in its most recent quarter on international sales of its main product, the Sapien heart valves.