HEALTHCARERecent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...
Consolidation among insurance brokerages continues at a pace that had a recent Deloitte report identifying “serial acquisitions” as the “core driver of brokerage growth.” The Business Journal’s Jane Yu asked Orange County brokerage executives to share their thoughts about the consolidation trend. They discuss some key factors that are contributing to the mergers and acquisitions activity, such as low interest rates and increasingly complex regulations, as well as risks that come with the changes. Here are edited excerpts of their responses.
Biggest Firms Combine For $570M, Up 13%
Orange County’s insurance brokers grew for the fifth straight year, notching a 13% increase in combined revenue last year.
HEALTHCARE: Collaboration to include Boston Scientific
The La Palma-based Innovation Institute LLC has landed another collaborator in its quest to foster the development of medical products and services intended to reduce costs and promote quality of care.
Edwards Lifesciences Exec Helped Bring Breakthrough Valve to Market
Stanton Rowe’s nearly 40-year career in medical devices has been one of intersection and innovation. He has played a crucial role in the development of what’s considered one of the major advances in replacement heart valves.
Note Owner Change With Chinese Firm Share Buy
Newport Beach-based Alliance HealthCare Services Inc. executives recently gave shareholders an overview of the recent change in majority ownership and several other matters.
The U.S. Food and Drug Administration today approved Allergan PLC’s Juvéderm Ultra XC for lip augmentation in adults who are at least 21 years old.
Children’s Hospital of Orange County will receive $17.7 million in a four-year grant from the Centers for Medicare & Medicaid Services.
Irvine-based Sabra Health Care REIT Inc. said today it bought nine senior housing facilities in Illinois, Oregon and Washington in two deals totaling $84.7 million.
Irvine-based Masimo Corp. said today it will donate $5 million worth of its patient monitoring devices to Jordanian hospitals to assist them in providing healthcare to more than 1 million Syrian and Iraqi refugees.
Irvine-based PhageTech Inc. said it closed on $2.4 million in Series A financing to complete development and U.S. Food and Drug Administration approval for disease sensor technology and to commercialize a blood and urine test for bladder cancer.
About 415 people celebrated innovation and the people who create it at the Business Journal’s inaugural Innovator of the Year awards last week at the Hotel Irvine.
Brings ‘Deep Experience’ Of Leading Big Businesses
Irvine-based device maker Endologix Inc. recently appointed Vaseem Mahboob as its new chief financial officer.
Laguna Hills-based Glaukos Corp. said a court ruled against it on three pending summary judgment motions in a patent lawsuit with a competitor.
Newport Beach-based Alliance HealthCare Services Inc. said today that Chinese investor Fujian Thai Hot Investment Co. will buy 5.5 million shares of its stock for $102.5 million and become its majority shareholder.
University of California-Irvine will get $19 million over four years from the National Institutes of Health to turn research results into medical products and services.