HEALTHCARE: Care close to patients, tech in the center
Were St. Louis, Mo.-based Ascension Healthcare and Renton, Wash.-based Providence St. Joseph Health to merge, the health systems would be the largest U.S. owner of hospitals, with 191 across 27 states and the District of Columbia between them—topping Nashville-based HCA Healthcare Inc., which has 177 hospitals in 20 states and the United Kingdom.
Children’s Hospital of Orange County plans to open an autism center at 170 S. Main St. in Orange in early 2019.
ChromaDex Corp. (Nasdaq: CDXC) said Chief Executive Frank Jaksch will become executive chairman and the company’s current president and chief operating officer, Rob Fried, will get Jaksch's role June 22, after the company’s annual meeting.
HEALTHCARE: Grows SoCal presence with M&A
Vantari Genetics Chief Executive Nick Arroyo said there are only two ways to grow the private company, organically through internal growth or through mergers and acquisitions.
Will Tap Family Office Networks
Orange County technology and life science accelerator OCTANe has partnered with New York-based Small Cap Nation, a financial-media content distribution platform that develops news and information through video, social media, articles, broadcast and newsletters. It’s focused on the small-cap sector.
REAL ESTATE: Disposition, more life science properties
HCP Inc.’s (NYSE: HCP) repositioning has been a bumpy one over the course of the past 18 months.
Offers Telemedicine and Diagnostics Services
Mental health is a hot issue, particularly in light of the country’s declared opioid epidemic, and Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) appears to be on the right track with its diagnostics platform and telemedicine.
To Offer Short-Term Lease Flexibility
There’s no turning back from shopping online. E-commerce totaled $453 billion last year, representing 13% of total retail sales and up 16% year-over-year, according to a U.S. Commerce Department report.
“It’s How You Carry It,” The Company Advises
Tony Zentil spent 17 years managing Oakley’s accessories division—helping to grow the category from $15 million to $100 million.
Hires Planned For Home-Care Frontier
Revenue from Irvine-based Masimo Corp.’s noninvasive patient monitoring technologies grew last year by 15% to $798.1 million, and Chief Executive Joe Kiani said the company plans to grow its new telehealth initiative.
To Provide Blockchain-Based Cybersecurity Solution
Take away the hype around digital cryptocurrency—some claim it’s bogus, given that the virtual coins aren’t backed by anything but the value people give them—and what’s left is blockchain technology.
HEALTHCARE: Launched IvyGene; to expand Irvine HQ
Irvine-based Laboratory for Advanced Medicine Inc. isn’t pursuing a magic-bullet immunotherapy drug to cure all cancers yet, but it sure is in growth mode.
Partners With Apothecary For Full CVS Launch
Innovation Institute, founded five years ago as an incubator to commercialize internal medical innovation by doctors, nurses and other hospital care providers in its six health system-owners network, has done exactly that.
Irvine-based Inari Medical Inc. received $27 million in a series C round to support commercialization.
Irvine-based Axonics Modulation Technologies received a $40.1 million financing comprised of $20.1 million in equity and a $20 million credit facility.
Edwards Gets FDA OK; Masimo Centers on Remote
Irvine-based device maker Edwards Lifesciences Corp. (NYSE: EW), while best known as one of the pioneers in less-invasive transcatheter heart valves, also has a strong focus in critical-care patient monitoring.
K5, Tech Coast Angels Panels Tackle Dos, Don’ts
K5 Ventures and Tech Coast Angels’ recent Face 2 Face event remained true to its organizers’ intention when they started it in 2015: “We wanted to provide an event covering something different and not done before,” said K5 founder and Managing Director Ray Chan.
HEALTHCARE: Focuses on practitioners; plans clinic by year-end
Metagenics Inc. Chief Executive Brent Eck says he believes the future of healthcare is moving toward lifestyle medicine and that the company, which makes medical foods and nutraceuticals, can play a bigger role in shaping personalized nutrition.
Targets Mid-April to Receive First Patients
“Adults with mental health [disorders] don’t just [develop them] all of a sudden,” said Dr. Hoang “Wayne” Nguyen, medical director of Children’s Hospital of Orange County’s new mental health inpatient center, which is scheduled to open this week.
Fujifilm Holdings plans to buy a pair of cell culture media businesses owned by Japanese oil and metals conglomerate JXTG Holdings for about $800 million.
Changes Around Opioids Among Coming Shifts
"The less structure we have on the policy [side], the more uncertainty” around healthcare reform, said industry expert Paul Keckley at MemorialCare’s Health Care Economic Roundtable this month.
To Add Services: Babysitters, Housekeepers, Tutors
Julie Zimmerer started 24/7 Family Home Care and Veterans Services because she couldn’t find a caretaker for her father after his stroke.
HEALTHCARE: Longtime donors value local care
The four-story, 104,500-square-foot cancer center Mission Hospital’s Mission Viejo location is planning to open in 2019 just got a very large check. Judi and William “Bill” Leonard gave an eight-figure gift to name the facility.
Can $3B Drug, Other Aesthetics Salve Restasis Pain?
The market has not been kind to Allergan PLC (NYSE: AGN) following the failure of its September deal in which the pharmaceutical company transferred all patents for dry-eye drug Restasis to the Saint Regis Mohawk Tribe in New York.
Irvine Office Stays; Was 12th-Biggest OC Pub. Co.
Aerie Pharmaceuticals Inc. has quietly shifted its headquarters from Irvine to North Carolina, removing a notable name from the list of Orange County-based public companies.
NB Startup Raises Initial Coin Offering
While cryptocurrencies, the best known of the bitcoin type, remain controversial, the technology that enables the existence of them isn’t.
Providence St. Joseph named Victor Jordan chief operating officer for Providence St. Joseph Health Southern California, effective March 26.
3-D Printed Energy Drinks Available in Six Flavors
Smart Cups founder and Chief Executive Chris Kanik said he got the idea for his company on a taco Tuesday night out—“The waitress wasn’t getting my margarita fast enough, and I thought, ‘What if I can pour some powder and make my own drink?’”
HEALTHCARE: Patient- centered, physician led
To say healthcare is changing is passé, particularly given that California is further ahead than most other states when it comes to implementing healthcare reform.
Family-Owned Co. Gets Over-Counter FDA OK
Electronic Waveform Lab Inc. makes electrical stimulation devices designed to noninvasively treat pain and help with rehabilitation without drugs.
Seattle-based SightLife Surgical Inc. will buy the Kamra inlay from AcuFocus Inc. in Irvine on undisclosed terms in a deal expected to close this month.
Long Beach Medical Center filed a 120-day lease termination notice on behalf of Community Medical Center Long Beach.
Pop-Up Models Also Reach Out at Companies
On-site and near-site care play a role in the value-based conversation as employers, health plans and providers search for ways to reduce healthcare costs. More companies are offering on-site clinics with more comprehensive primary care services—approxi- mately 45% of all employers offer some sort of on-site clinic, according to the National Association of Worksite Health Centers.
HEALTHCARE: Broadens fund strategy with LRV, real estate
Hospitals are tasked with making care more accessible, efficient and affordable. One way to do that is through health tech.
Platform’s Members Get ‘Poynts’ for Healthy Buys
The Affordable Care Act put new emphasis on preventing chronic conditions, which account for more than 80% of U.S. healthcare costs, according to the Centers for Disease Control and Prevention. Prioritization is one thing, implementation and patient compliance is another.
Raised $12M; Fund Not Limited to UCI Tech
The Cove Fund recently closed its second fund at over $12 million.
Apria CFO Preaches Big Data; Employee Growth; Hard Work
Apria Healthcare Executive Vice President and Chief Financial Officer Debby Morris describes herself as partner to the chief executive, going beyond a chief financial officer’s typical role to develop strategy and key initiatives and driving growth and profitability.
MeU Care Adds PatientPoint Connect
Healthcare providers are increasingly incorporating technologies to provide better care at lower cost.
Ambry’s Martinson Gravitated to Biotech, Life Sciences Clients
Genetic diagnostics company Ambry Genetics Corp. concluded the year with a large corporate change, completing its up to $1 billion sale to Japanese printer maker Konica Minolta Inc.
Nemus Bioscience Inc. (OTCQB: NMUS) received a $1.75 million private placement from majority shareholder Emerald Health Sciences Inc. and other investors.
Technology Gains Traction With Reimbursement Change
There are plenty of opportunities for software solutions in healthcare operations, ranging from medical-records management to analytics to compliance.
Ready to Roll Out Device, Says First Order in March
Given the particularly bad flu season (see related story, page 26), GermFalcon’s germ-killing device is well-timed. The device uses ultraviolet-C light, the kind used in hospitals, to disinfect airplane cabins.
UCI to Fill Two Positions; Providence Taps New Head
High performers like UC Irvine Medical Center and Providence St. Joseph Health—its local network comprised of seven hospitals—experienced changes on the executive level in the year ended Sept. 30, the former in search of a new chief executive, the latter naming a regional head to oversee Los Angeles, Orange and San Bernardino counties.
Nondrug Therapy TMS Targets Depression
Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) is in the business of behavioral health.
Include Monitoring, More Access to Care on Demand
Digital health is the buzzword when it comes to the present and the future of care. Technologies, such as telemedicine, remote patient monitoring and patient engagement via smartphones, are designed to enable providers and patients to manage health and wellness more effectively and cost-efficiently.
If there’s one word to describe the nation’s healthcare industry it’s uncertainty. The new tax bill repealed the Affordable Care Act’s individual mandate provisions that required most Americans to purchase health insurance or face penalty, which could hurt hospital revenue with fewer people buying health plans. The bill also took away nonprofit hospitals’ ability to use advanced refunding to replace outstanding bonds with bonds at lower interest rates.
Hospitals Up Game To Better Coordinate Care
It was the worst of times and the worst timing. “The uptick in flu cases in mid-December spiked around Christmas and New Year’s Eve, around the holidays, a lot of traveling and socializing with family and friends,” said Dr. Wendy Coling, a Kaiser Permanente primary care physician in Orange County. She said it didn’t help that this year’s H3N2 influenza virus is a “more virulent flu strain.”
Irvine-Based Company Grows With New Office
SpringboardAuto, an Irvine-based online direct lender that connects customers with auto lenders, has doubled its office size and now plans to double its employee count to 100 by the end of the year.
Tustin-based Avid Bioservices Inc. yesterday priced a public offering of 9 million shares of common stock at $2.25 apiece, and expects more than $20 million in gross proceeds after the offering closes next week.
Avid Bioservices Inc. in Tustin will sell its clinical-stage immunotherapy cancer drug candidate to Oncologie Inc. for $8 million upfront—with payments spread over six months—and up to $95 million in development, regulatory and commercialization milestones.