L.A. gets the Olympics—2028. This Olympics won’t be OC-centric like 1984, when Laguna Beach’s Peter Ueberroth helmed the effort, $0 in the bank and national malaise—finished with a $250 mill surplus and the Games’ financial viability restored.
Incorporates ‘Subtle Japanese Influences’
Mazda North American Operations, in the midst of a “Retail Evolution,” has chosen a different agency to help it implement a new dealership design concept.
REAL ESTATE: Just-bought site entitled for 161 for-sale homes
Lennar Corp. has bought a sizeable infill housing development site in downtown Anaheim, in what looks to be the homebuilder’s largest purchase in the city in several years.
HEALTHCARE: Unlike prior deal, not looking to exit via sale
When Sarepta Therapeutics Inc. announced Douglas Ingram as president and chief executive officer, the general consensus was that the Cambridge, Mass.-based biotech company tapped the former Allergan president to execute a buyout, given Ingram’s past experiences at Allergan PLC and Chase Pharmaceuticals Corp.
Cable Exchange, a Santa Ana-based company with 200 employees, was bought by CommScope Holding Co. on undisclosed terms.
Carlyle Group in Washington, D.C., one of the largest private equity firms in the U.S., will invest $200 million for a 15% to 20% stake of Aliso Viejo-based UST Global, valuing the company at over $1 billion, according to multiple news reports.
Golden State Management Corp. in Lake Forest plans 25 to 30 locations of Modern Acupuncture in Orange County over the next three years as part of a commitment of 65 sites that includes San Diego County and the Inland Empire.
Newport Beach-based Alliant Insurance Services acquired Boynton & Boynton Insurance Professionals to continue its expansion in the Northeast. Terms of the agreement were undisclosed.
HEALTHCARE: Develops more resilient tissue, ‘first-of-its-kind’
Edwards Lifesciences Corp. received Food and Drug Administration approval for a new aortic heart valve, Inspiris Resilia.
ECONOMY: Centerpiece of Sept. 18 Special Report
Is your company growing fast?
MANUFACTURING: But labor shortage, costs, crimp job creation
For the 33rd straight month, Orange County’s manufacturers expanded output—albeit modestly—as measured by Chapman University’s quarterly survey of purchasing managers.
Some Boast Perks That Save Trips to Town
Fully equipped gyms, home movie theaters, and kitchens with commercial-grade appliances are almost a given in today’s luxury homes. Even indoor pools and elaborate wine rooms have become somewhat commonplace. And guesthouses are simply a bonus—in fact, there are 45 luxury homes on the market that boast a guesthouse among their selling points.
One Recent Startup Led By Four 70-Somethings
Multiple Orange County startups have made this a bit of a launching season.
Urine-Based Test Aims to Cut Invasive Procedures
MDxHealth SA in Irvine has rolled out its third test, AssureMDx. The noninvasive urine-based test assesses the risk of bladder cancer in patients diagnosed with hematuria—blood in the urine.
20th Birthday Bash Ushers In Big Global Brand Plans
Too Faced Cosmetics LLC plans to mark its 20th anniversary with a fresh face. It partnered with the New York-based Wilhelmina International Inc. agency on a search for the brand’s next spokesperson, who will be “the face” of its 20th Birthday Campaign.
To Release Kits, Designs For AI Devices Like Siri
Irvine-based Conexant Systems LLC has connected with China’s largest internet search provider in another strategic deal involving voice recognition and command.
Sales and leases of offices, industrial buildings, retail space and apartments
Peterson Family Trust sold a manufacturing building in Huntington Beach to Transistor Lane LLC for $3 million, or $155 per square foot.
Dana Point Investor Nabs OC Apartments
Fullerton University Village, a 100-unit student housing community within walking distance of California State University-Fullerton, has been sold to a Dana Point investor that’s planning a renovation of the 45-year-old property.
Orange County is the fourth largest office market on the West Coast and one of the top 30 largest office markets in the United States, totaling 101.5 million square feet.
Other items of interest Orange County Business Journal Vol. 40, No. 29
Argosy University in Orange said it will launch a master of law in compliance online degree program with a health law concentration in September.
ECONOMY: Gov’t regulation cited as their biggest concern
For the first time since the onset of the recession, business owners and executives here share a bigger worry than the overall economy, according to the latest California State University-Fullerton’s Orange County Business Expectations Survey.
Company Now in OC, Targets U.S., China Growth
Dendreon Pharmaceuticals LLC received the Food and Drug Administration’s thumbs-up for its prostate-cancer therapy Provenge in 2010, and analysts projected $4.3 billion in annual sales by 2020, yet it was a blockbuster that failed to premiere.
8 Buildings, Food Hall in 1st Construction Phase
Construction has started on Orange County’s first substantial ground-up creative-office project in Tustin.
OBITUARY: His good works benefitted a good many
Dale Dykema died on July 4.
Japanese Printer Maker Ups Game in Diagnostics With Buy
Ambry Genetics Corp., a closely held genetic diagnostics company in Aliso Viejo, just sold for $800 million—maybe more. The Japanese photocopier and printer maker Konica Minolta signed a definitive agreement to buy the Aliso Viejo-based company comprised of $800 million upon closure and an additional payment of up to $200 million over the next two years if certain financial goals are met.
REAL ESTATE: 230,000-SF lease at old Powerwave HQ
Behr Process Corp., a Santa Ana-based manufacturer and supplier of architectural paint and exterior wood care products that’s one of the largest employers in its hometown, is planning a big expansion of local operations.
TECHNOLOGY: Device brings 3-D, VR sans awkward aids
Jim Jannard, founder of Irvine-based Red Digital Cinema Camera Co., has figured out a way to allow viewing of 3-D and virtual reality content without the need for a pesky headset or glasses.
Advantage Smollan Ltd. in London, a holding company Irvine-based Advantage Solutions Inc. set up in 2015 with Smollan Group in Johannesburg, plans to acquire Netherlands-based Hamilton Bright Group B.V. on undisclosed terms.
AutoGravity Corp. in Irvine received an undisclosed investment from VW Credit Inc., and its software will power the Volkswagen Credit smartphone app to provide financing for Volkswagen and Audi buyers in the U.S. Volkswagen financing is also offered on AutoGravity’s platform.
Huntington Beach-based Boardriders Inc., which owns the Quiksilver, Roxy and DC Shoes brands, named Nate Smith president of its Americas region. He replaces Global President Greg Healy, who will transfer to Australia to lead the Asia Pacific market.
Acacia Research Corp. led a $3.1 million investment in Miso Robotics Inc. and signed an intellectual property agreement with the company to commercialize its main product for the restaurant industry.
REAL ESTATE: 3rd local sale, $104M Fairfield buy
Irvine Co. has sold its only known commercial holding in Placentia and one of the largest apartment complexes in the city in what’s apparently Orange County’s biggest rental property sale of the year to date.
AUTOS: Bot detection tech, digital marketing optimized
In the market for a new vehicle? Talk to Daniel Kim.
HEALTHCARE: Added Texas, plans to expand Irvine office
Data management provider Kaygen Inc. has expanded its footprint, adding an office in Plano, Texas. The space, a suite in Spring Creek Parkway Executive Center, has 10 employees.
TECHNOLOGY: Looks to protect the home and all in it
Security software maker Cylance Inc. is entering the consumer market.