Orange County Business Journal

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Segerstrom Daniels Gives $5M to CHOC Mental Health Program

Children’s Hospital of Orange County said today it's building a new children’s mental health inpatient center as part of an initiative that will be supported by a $5 million gift from Sandy Segerstrom Daniels.

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Edwards Suspends Valve Study

Irvine-based Edwards Lifesciences Corp. said today that it is voluntarily halting enrollment in an early clinical trial for an experimental, less-invasive mitral heart valve.

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Biolase Names CEO

Irvine-based Biolase Inc. said today that Harold Flynn Jr. will become its new chief executive, effective July 13.

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Masimo's $467M Verdict Upheld

Irvine-based Masimo Corp. said today that a federal court in Delaware has upheld a $467 million jury verdict in its favor against a pair of Netherlands-based Royal Philips Electronics NV's units for patent infringement.

Device Maker Plans IPO, New Hires

HEALTHCARE: Glaukos aims for $86.3M, NYSE listing

Laguna Hills-based eye device startup Glaukos Corp. plans to use proceeds from a proposed initial offering to hire more workers, expand marketing programs, and fund further clinical studies.

Masimo Chief Cites Progress on 10-Year Plan

Monitors Gain, Rainbow Product Line ‘Promising’

Masimo Corp. Chief Executive Joe Kiani says he’s “encouraged by our progress to date” as his company moves into the last 1 ½ years of a 10-year plan it established when it went public in 2007.

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Glaukos Files for IPO

Laguna Hills-based Glaukos Corp. has filed plans to raise $86 million in an initial public offering.

Allergan Campus on Jobs Seesaw

HEALTHCARE: Actavis indicates new unit will offset chunk of layoffs

The makeover of Allergan Inc.’s operations in Irvine continues, with 1,100 jobs expected to be trimmed by next month.

Credit Collaboration for Cripe’s Place on List

HEALTHCARE: CHOC boss cites Innovation Institute as latest example

You’ll find Kimberly Chavalas Cripe among this year’s OC 50, the Business Journal’s annual inventory of the most influential members of the community of business here, and the subject of this week’s Special Report (see pullout for profiles).

Alphaeon Appoints Two Execs to Board

Irvine-based Alphaeon Corp. named former Securities and Exchange Commissioner Christopher Cox and Silicon Valley executive Dennis Wolf to its board of directors.

­­­Edwards Chief Talks Up Q1 Valve Segment Adoption

Growth in Europe; Japan Sees Sequential Increase

Irvine-based Edwards Lifesciences Corp. and its chief executive, OC 50er Michael Mussallem (see Special Report pullout), are talking adoption of the company’s fast-growing less-invasive heart valve segment.

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HCP Buys Philadelphia Building

Irvine-based HCP Inc. has acquired a building in Philadelphia for $161 million, according to a federal filing.

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Alphaeon Adds Two Directors

Irvine-based Alphaeon Corp. said today that it named former Securities and Exchange Commissioner Christopher Cox and Silicon Valley executive Dennis Wolf to its board of directors.

Nihon Kohden Gets New CEO; Shakes Upper Ranks

Switches to Unified Sales Strategy Among Units

Irvine-based Nihon Kohden America has a new chief executive and a revamped business structure.

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Maletta Goes to Irish Drug Maker

Matthew Maletta, a former associate general counsel with Irvine-based Allergan Inc., was named chief legal officer of Endo International plc.

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Device Maker Gets $26M Loan

Irvine-based startup Lombard Medical Inc. said today it received a $26 million loan facility from a financier.

AcuFocus Casts Eye on Boomers

HEALTHCARE: Gets FDA approval for device to supplant reading glasses

Well-heeled baby boomers will be able to reach for something besides reading glasses now that Irvine-based AcuFocus Inc. can debut its flagship eye device in the U.S.

Financiers Loan Device Maker $12M

San Clemente-based medical device maker ReShape Medical Inc. received a $12 million loan from a pair of financiers.

Insurers Want More Scrutiny of Reusable-Device Makers

DC-Based Group Requests Increased FDA Tracking

A managed care lobbying group is calling for tighter controls over the approval, monitoring and maintenance of reusable medical devices, according to news reports.

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Edwards Posts Profit

Irvine-based Edwards Lifesciences Corp. reported a profit of $123.4 million, more than double the total for the same period a year ago.

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ReShape Medical Gets $12M Loan

San Clemente-based medical device maker ReShape Medical Inc. has received a $12 million loan from a pair of financiers.

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FDA Clears AcuFocus Inlay

The Food and Drug Administration has approved Irvine-based AcuFocus Inc.’s Kamra corneal inlay for treating presbyopia.

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UC Irvine Health Opens Tustin Specialty Center

The healthcare enterprise of the University of California-Irvine said today that it opened a new specialty healthcare center in Tustin.

Medtronic Valve Gets FDA OK for Use in Procedure

Product For Patients With High, Extreme Risks

Medtronic CoreValve, a less-invasive heart valve that has Orange County roots, recently received the green light from the Food and Drug Administration for use in what’s known as “valve-in-valve” procedures for treating people whose surgical aortic valves have failed.

Quality Systems Buys Into Big Data

Irvine-based healthcare software maker Quality Systems Inc. continued its diversification effort with the recent acquisition of a “big data” specialist.

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UC Irvine Health Opens Tustin Specialty Center

The healthcare enterprise of the University of California-Irvine said today that it opened a new specialty healthcare center in Tustin.

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Allergan Laying Off 577 in Irvine

Allergan Inc., now a business unit of drugmaker Actavis PLC, will lay off 577 workers in Irvine, according to a state filing.

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Allergan Laying Off 577 in Irvine

Allergan Inc., now a business unit of drugmaker Actavis PLC, will lay off 577 workers in Irvine, according to a state filing.

CareTrust REIT Adds Nursing Home

San Clemente-based CareTrust REIT Inc. bought a nursing home in Washington state for $9.1 million.

ReShape Gets Pass on FDA Panel for Obesity Device

HEALTHCARE: Could get final approval for market in June

A San Clemente-based medical device maker cleared a big regulatory hurdle and landed on a faster track to commercialization.

Griffin-American Inks $353M Worth of Deals in Q1

Adds 18 Properties Spread Over 11 States

Irvine-based real estate investor Griffin-American Healthcare REIT had a busy first quarter, with $353.7 million worth of acquisitions encompassing 18 healthcare properties in 11 states.

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Allergan Ends Legal Battle With Ackman, Valeant

Allergan Inc., the Irvine drug maker that is now part of Dublin-based Actavis Plc., has ended its court fight with Canada-based Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s New York City-based Pershing Square Capital Management LP.

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CareTrust Buys Nursing Home for $9.1M

San Clemente-based CareTrust REIT Inc. said today that it bought a nursing home in Washington state for $9.1 million.

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St. Joseph Health Taps Chief Medical Officer

Irvine-based St. Joseph Health said today that Dr. Jack Cox is its new senior vice president and chief medical officer.

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Ambry Buys Software Company

Aliso Viejo-based Ambry Genetics Corp. acquired Delray Beach, Fla-based Progeny Software LLC for an undisclosed price.

CryoPort Seeks Move to Nasdaq, Warrant Offering

Could Get $34.6 Million for Additional Stability

Lake Forest-based Cryoport Inc. is looking to raise money and shift its stock exchange listing.

Filings Cite Twists, Turns on Way to Pyott’s Payout

HEALTHCARE: Cashes stock for $534M after Allergan sale

David Pyott’s big payout from the sale of Allergan Inc. to Actavis PLC came with twists and turns for both companies and two other drugmakers involved in a deal of their own, according to filings made public last week.

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Pyott Gets $534M on Allergan Sale

David Pyott, the former chief executive of Irvine-based Allergan Inc., converted stock to a total of $534 million in cash following Allergan’s $72.5 billion acquisition by Actavis Plc, according to a Securities and Exchange Commission filing.

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Pyott Gets $534M on Allergan Sale

David Pyott, the former chief executive of Irvine-based Allergan Inc., converted stock to a total of $534 million in cash following Allergan’s $72.5 billion acquisition by Actavis Plc, according to a Securities and Exchange Commission filing.

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CHOC Takes Stake in Innovation Institute

The Innovation Institute in La Palma, founded with an investment from Irvine-based St. Joseph Health, said today that Children’s Hospital of Orange County has become its third member and investor.

From Land Mines to Multiple Paths

Autism Therapy Provider Adds Software, Real Estate to Portfolio

Dr. Rob Douk’s entrepreneurial instincts have led him into a number of lines of business.

Edwards, Others Give Promising Transcatheter Reports

Its Heart Valve Studies Show Positive Results

Irvine-based Edwards Lifesciences Corp. and a couple of its competitors had an eventful mid-March on the clinical trial and regulatory fronts for their less-invasive replacement heart valves.

Clock Ticks as Startup Drug Maker Seeks Lifeline

HEALTHCARE: BK filing follows several loan defaults

Irvine-based AtheroNova Inc. is searching for a buyer willing to extend the cash-strapped startup’s existence as it reviews early data on its effort to develop drugs to fight atherosclerosis, or hardening of the arteries.

‘Post-Affordable Care Act’ CEO Sought for UCI Medical Center

HEALTHCARE: New boss says search ‘unfolding’

Dr. Howard Federoff will soon take up some heavy lifting in his new job as the University of California-Irvine’s top healthcare executive.

Fitch Affirms Strong Ratings on MemorialCare Finances

Frees System to Invest In ‘Strategic Initiatives’

Fountain Valley-based MemorialCare Health System’s solid debt ratings were affirmed this month by New York City-based Fitch Ratings Inc.

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Ingram to Pacific Life's Board

Newport Beach-based Pacific Life Insurance Co. said today that Douglas Ingram, former president of Allergan Inc., has been elected to its board, effective May 1.

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ReShape Raises $2M

San Clemente-based medical device maker ReShape Medical Inc. has raised $2 million, according to a Securities and Exchange Commission filing.

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Pyott to Retain Chair of Allergan Foundation

David Pyott will remain chair of the Allergan Foundation, according to Actavis PLC, the Ireland-based drug maker that recently wrapped up its $72.5 billion buy of Irvine-based Allergan Inc.

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Actavis Wraps Up Allergan Buy; Pyott Passes on Board Seat

Actavis PLC said today that it completed its acquisition of Irvine-based drugmaker Allergan Inc., currently valued at about $72.5 billion.

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Edwards Up on Heart Valve Studies

Irvine-based Edwards Lifesciences Corp.’s shares rose today on positive results from several studies of less-invasive heart valves.

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