Sherry Hsieh

Staff Reporter

Email: hsieh@ocbj.com
Phone: 949-833-8373 Extension: 242

Recent Stories

Glaukos Assures Wall Street and Doctors on Stent Safety

Says Alcon Recall Product-Specific

Stockholders of San Clemente-based medical device maker Glaukos Corp. (NYSE: GKOS) got an early Christmas gift last month, as the product failure of a competitor firm in the emerging micro-invasive glaucoma surgical (MIGS) sector sent the company’s stock up about 40% to an all-time high, while adding about a billion dollars to its market value.

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Mynd Stock on the Mend After Deals, New Report

Forges Recent Partnership With N.C.-Based Provider

It’s been a good month for Mission Viejo-based Mynd Analytics (Nasdaq: MYND), a data analytics firm whose products help doctors provide better and more personalized mental health services.

Allergan to Buy NB’s Bonti

Allergan PLC announced it will buy Newport Beach-based Bonti Inc. for $195 million.

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Midday Stock Roundup

The S&P 500 rose about 0.5% to 2,902.59.

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Afable Moves From St. Joseph to Startup

INNOVATION: OC50 vet CEO of Concierge Key

Richard Afable didn’t stay retired for long. The prominent Orange County healthcare industry veteran who stepped down as chief executive of St. Joseph Hoag Health in Irvine in December, recently took the chief executive role at Newport Beach-based Concierge Key Health LLC, a 1-year-old startup firm that created a mobile app for on-demand access to medical specialists.

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Avid Beats on Lower Revenue

Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) reported fiscal first-quarter revenue fell 54% to $12.6 million from the same period a year ago but the figure topped analyst estimates and the company reaffirmed full year revenue guidance in a range of $51 million to $55 million.

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Startups & Innovations

Spinal Singularity Inc., a seed-stage medical device company that’s developing bladder-management products for people suffering from spinal injuries, has gotten a new source of funds.

Medical Device Makers’ Employment Rises 4.5%

Top Four Increase Headcount Above Average

Medical device makers with operations in Orange County added over 900 employees in the year ended July 31, up 4.5% year-over-year, according to Business Journal research. The top four reported above-average growth, fourth-ranked Microvention Inc. in Aliso Viejo up 29%, the biggest move.

Firms Bet on Specialized Health-Fitness Offerings

Care Tailored to Execs, Seniors, Stretching Fans

Consumers are changing the shape of healthcare with their choices, giving rise to the new product category of “wellcare,” according to a PricewaterhouseCoopers report released last year. It refers to products and services that help people stay healthy, youthful-looking and in shape.

AI Summit Focuses on Next-Gen Tech & Limitations

Clinicians Vital In Bridging Application Gap

The future of healthcare is a technology-driven one, with machine learning, deep learning and other aspects of artificial intelligence all crucial elements.

OC’s No. 1 Drugmaker, Allergan, Keeps Downsizing

Dendreon Plans to Grow; Peregrine Drops Off List

Compared to robust activity in the medical device sector, the eight biggest drugmakers with headquarters or significant operations in Orange County reported lackluster local employment of 2,153 in the year ended July 31, down nearly 20%.

Quality Systems Now NextGen

Quality Systems Inc. (Nasdaq: QSII), an Irvine-based medical and dental practice management service provider, announced today that it has changed its corporate name to NextGen Healthcare Inc., effective immediately.

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Smile Brands Plans M&A Growth

Smile Brands Inc., an Irvine-based dental business support services provider, named Kevin Rogus as vice president of mergers & acquisitions.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,873.96.

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Glaucoma Competitor Exit Gives Ivantis, Glaukos Boost

HEALTHCARE: FDA OK for Hydrus Microstent

Irvine-based Ivantis Inc., an 11-year-old ophthalmic device maker of eyelash-sized stents used to treat glaucoma, couldn’t pick a better time to bring its first product, Hydrus Microstent, to market in the U.S.

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Evolus Evolution: More Sales, Marketing Hires on Tap

Latest Switch: Avelar Will Head R&D Team

Irvine-based Evolus Inc. (Nasdaq: EOLS), a medical aesthetics company that went public this year, continues to build out its management team under the direction of new Chief Executive David Moatazedi.

Ex-DreamWorks Duo Launch VR Game

INNOVATION: VR firm gets local funding

“I wanted to take people to another world,” Spaces Inc. co-founder and Chief Executive Shiraz Akmal told the Business Journal at the preview event of its new Terminator VR experience: “Terminator Salvation: Fight for the Future.”

Concierge Key Names Afable New CEO

Newport Beach-based Concierge Key Health, which has created a mobile app for on-demand access to medical specialists, named Richard Afable as president and chief executive,

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KPC Exec Moves Point To Integration and Buys

HEALTHCARE: Baronoff aims for more efficiency

Integration is task No. 1 for KPC Healthcare Inc.’s new chief executive, Peter Baronoff.

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E-tailer Madaluxe Stores Fuels Sales

INNOVATION: CEO drives web traffic with new locales

Chief Executive Adam Freede describes MadaLuxe Group’s e-commerce platform for its direct-to-consumer division, MadaLuxe Vault, like “a startup division with a more established company.”

ChromaDex’s World Tour Hits New Zealand, Asia

Supplement Maker’s Next Stop Turkey

Irvine-based supplement maker ChromaDex Corp. (Nasdaq: CDXC) is ramping up international expansion efforts.

Former Proove CEO Meshkin Starts Venture Fund

HEALTHCARE: Plans lawsuits to fight ‘false allegations’

The most awful thing for Brian Meshkin was the Federal Bureau of Investigation raiding Proove Biosciences Inc.’s Irvine headquarters and making “political theater about it” with media on-site.

Ear, Nose, Throat Pharma Seeks Cash

HEALTHCARE: Plans to spend $20M for two trials

Novus Therapeutics Inc. (Nasdaq: NVUS) has its eyes—and ears—open for more funding.

STARTUPS & INNOVATIONS

Marwit Investment Management LLC has exited essentially all of its investments, giving Managing Partner Matthew Witte more time with family—including backing startups created by two of his kids.

Mission Hospital Rolls Out Three Midwifery Suites

Second in California With Hospital Birthing Center

There are basically two options for expecting mothers: obstetrician-gynecologists or midwives.

Rox Names CEO

San Clemente-based Rox Medical Inc. appointed Mike MacKinnon as chief executive. He came from Philips N.A. where he was head of sales for image guided technologies.

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HCP REIT En Route To All-Private-Pay Portfolio

HEALTHCARE: Construction totals about $800 million

A third of the former “Big Three” senior housing real estate investment trusts is wearing a different color: HCP Inc. (NYSE: HCP) plans to slice its portfolio into three equal segments over the next few years.

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Mynd Analytics Matches Seniors With Telehealth

Subsidiary Launches Behavioral Health Program

With the number of Americans 65 and older projected to outnumber children for the first time in U.S. history by 2030—census estimates show all baby boomers will be older than 65 then, expanding the size of the older population to 78 million—healthy aging is ever more important.

Price Competition Results in Mixed Edwards Q2

HEALTHCARE: Says new valves should drive up Q4 sales

Recent stock reactions to Orange County’s largest publicly traded company speak to Edwards Lifesciences Corp.’s (NYSE: EW) second-quarter earnings.

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Biolase Gets New CEO

Irvine-based Biolase Inc. (Nasdaq: BIOL) on Aug. 8 named Todd Norbe president and chief executive.

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Molecular Diagnostics Co. Agendia Raises $35M

HEALTHCARE: Commercial Expansion and Big Data Programs

The future of healthcare is moving towards precision, a.k.a., personalized medicine—and molecular diagnostics play an increasingly important role in one of the main components of precision medicine, gene-specific therapeutics.

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FDA Approval No Longer Device Makers’ Last Step

Design to ‘Real-World’ Trials; It’s a Value Play

Value-based care—the healthcare model designed to incentivize providers to improve patient recovery and reduce cost—is not news in California, an early adopter of the Affordable Care Act. The shift is also changing the approach to new-product adoption.

Medical Pot Market Loosens

Operators Still Hope for More Open Fed

Policy changes and medical marijuana go hand in hand, and for Danielle Piomelli, professor of anatomy and neurobiology at University of California- Irvine, true progress is only possible if the federal status of the drug is changed.

Patients Drive Adoption of ‘Alternative’ Medicine

Americans Forking Out Billions Out-of-Pocket

Healthcare is changing rapidly, pushed by the rise of a new breed of informed patient who is seeking alternatives to conventional treatments.

Delta Dental Sees Steep Decline in OC Membership

Low-Cost Plan Not A Hit with Dentists

Net dental enrollment in dental HMO and PPO plans decreased more than 25% to about 2 million members in year through July.

Startups Leverage Devices to Prevent Illnesses

‘Really’ Wearables; Computer Best Practices

There’s no denying the healthcare of tomorrow won’t be limited to the four walls of a hospital and that technology will play a crucial role in enhancing the patient-centered model.

Oramed Shoots for Holy Grail of Diabetic Care

OC Trial Site Largest Of Nationwide Study

An oral form of insulin doesn’t exist yet, but Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) has announced it’s taking a major step toward attaining the Holy Grail of diabetes care.

HMO Members Up 4% in OC; PPO Numbers Flat

Providers Turn to Tech to Control Costs

To HMO or PPO, that’s the question. Orange County’s top health maintenance organizations experienced growth in the former and decline in the latter during the 12 months through July.

Masimo Strong Q2, Raises Guidance

Masimo Corp. (Nasdaq: MASI) reported revenue of $211.6 million, including royalty, with product revenue for the second quarter totaling $202 million, up 12.4% compared to the same quarter a year ago.

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Quality Systems Revenue Up

Irvine-based Quality Systems Inc. (Nasdaq: QSII) reported $133.2 million in revenue for its latest quarterly results, a 1.7% year-over-year increase.

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KPC Names COO

KPC Health System named Scott Rifkin as chief operating officer of KPC Healthcare.

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LensGen Gaze Fixed On Clinical Trial Start

HEALTHCARE: Funding release vote of confidence

Irvine-based LensGen Inc.’s recent $11 million funding, part of a $21 million Series A funding raised last May, represents a vote of confidence by investors.

Dental Players Glidewell, Smile Enter New Markets

DentalXChange Debuts Credential Platform

Smile Brands Inc. is making a foray into Nevada in a partnership with Las Vegas-based P3 Dental Group.

Avid Starts Year as Contract Biologics Developer

HEALTHCARE: Appoints CFO, 3 others to leadership

Avid Bioservices Inc. (Nasdaq: CDMO) in Tustin reported fourth-quarter and fiscal-year results last week, marking year one of its remaking—a new name, business plan, management and board.

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Flush VC Funds Found Companies in Q2

Record $673M in 23 Deals Reverses Trend

Venture capital came to Orange County in the second quarter.

Urologic Therapeutic Co. Urovant Seeks $150M

HEALTHCARE: Three drug trials, overactive bladder first

Orange County’s adding a pharmaceutical company to its ecosystem that walks quietly and carries a big wallet.

Big Plans Ahead for Biopharma Company Urovant

Ex-Astellas Execs Join Now-5-Member Board

Clinical-stage biopharmaceutical company Urovant Sciences Ltd. appointed Sef Kurstjens and Pierre Legault to its board of directors, increasing the number of members from three to five (see related story on page 1).

Evolus Raises $56M

Evolus Inc. (Nasdaq: EOLS) priced an additional public offering of 4 million shares of common stock at $20 each. The offering consists of 3 million shares offered by the medical aesthetics company and a million shares offered by a selling stockholder.

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Avid Names CFO

Avid Bioservices Inc. (Nasdaq: CDMO) appointed Daniel Hart chief financial officer.

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Urovant Seeks $150M IPO

Irvine-based Urovant Sciences Inc. is seeking $150 million via the public markets to extend clinical trials of therapies to treat urologic conditions.

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