Orange County Business Journal

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Argyros Family Gives $7M for Hoag Nursing Program

Hoag Memorial Hospital Presbyterian today received a $7 million gift from Orange County philanthropists George and Julia Argyros to support its nursing program.

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Masimo Beats Q1 Estimates

Irvine-based patient monitor maker Masimo Corp. today reported first-quarter results that outpaced Wall Street forecasts.

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Glaukos Guides Higher, Shares Up

Shares of Laguna Hills-based Glaukos Corp. rose today on first-quarter results that beat expectations.

Drug Distributor Reorganizes in Face of Cash Crunch

HEALTHCARE: New exec, overhead cuts for Praxsyn

Irvine-based drug distributor Praxsyn Corp. is reorganizing its operations as it copes with what it calls “a substantial working capital deficit.”

Quality Systems to Trim 6% of Its Jobs

Irvine-based Quality Systems Inc. will cut 150 jobs, or about 6% of its U.S. workforce, as part of an operational realignment.

Sabra Outlines Planned Auction of Fort Worth Tenant

Aims to Use Proceeds To Pay on Revolving Credit

Irvine-based Sabra Health Care REIT Inc. continues its march toward the denouement of its long-running challenge with a major tenant.

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Quality Systems Cutting Jobs, Restructuring

Irvine-based Quality Systems Inc. will cut 150 jobs, or about 6% of its U.S. workforce, as part of an operational realignment.

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. today reported better-than-expected first-quarter profit and revenue.

UC-Irvine Health, Corona Hospital Strengthen Ties

Pact Now Includes High- Risk Pregnancy Consults

UC Irvine Health recently stepped up its partnership with Corona Regional Medical Center, a midsized hospital just across the Riverside County line, by opening a high-risk pregnancy clinic.

Firm Prepares FDA Bid for Portable Dialysis Device

HEALTHCARE: EasyDial boosts work force in ramp-up

EasyDial Inc., a maker of kidney dialysis devices, has boosted its employment base in anticipation of a Food and Drug Administration approval and a move to Irvine from Laguna Hills.

Edwards Test Results Could Give it Some Separation

Valves as Good or Better Than Surgery on Some

Edwards Lifesciences Corp. is getting approving nods in the wake of positive clinical trial results for its Edwards Sapien transcatheter heart valves on a sizable patient population.

Auxilio Boss Discusses Diversification and Contracts

Print Provider Grows IT Security Business, More

Mission Viejo-based Auxilio Inc. is combining diversification plays and growth in its core as a managed print services company focused on the healthcare industry.

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Checks Mailed in St. Joe Settlement

Plaintiffs in a recently settled class-action data breach lawsuit against Irvine-based St. Joseph Health have started to receive their payouts.

Allergan Looks To New Opportunities

HEALTHCARE: Focuses on own buys after Pfizer deal falters

Allergan PLC is back in the hunt for deals in its seven core therapeutic areas, including ones that could complement products developed at its Irvine hub for Botox, medical aesthetics, dermatology and ophthalmology.

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Allergan Still on Hunt for Deals

Allergan PLC Chief Executive Brent Saunders said today that the drug maker will continue to seek “growth pharma” deals—including possible acquisitions that would complement its Irvine hub for Botox, ophthalmology and medical aesthetics—after the termination of its $160 billion mega-deal with Pfizer Inc.

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Edwards Surges on Valve Trial

Irvine-based Edwards Lifesciences Corp.’s shares shot up today after it reported positive results on a pair of less-invasive replacement heart valve clinical trials.

Plans Filed for NB Convalescent, Congregate Facility

HEALTHCARE: 128 units would replace existing eatery

CenterPointe Senior Living LLC has filed plans with Newport Beach city officials to build a 109,633-square-foot, 128-unit convalescent and congregate care facility that it hopes to open roughly two years from now.

Glaucoma Device Gets Japan Approval

The Japanese Ministry of Health, Labor and Welfare approved a glaucoma device made by Laguna Hills-based Glaukos Corp.

Ambry Genetics Founder Resigns After Diagnosis

Will Chair Board, Serve As President; COO Now CEO

Aliso Viejo-based Ambry Genetics Corp. said late last month that its founder and chief executive, Charles Dunlop, would assume the roles of board chairman and president.

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Japan Regulators Clear Glaukos Stent

The Japanese Ministry of Health, Labor and Welfare has approved a glaucoma device made by Laguna Hills-based Glaukos Corp.

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Mazzo Asks Judge for Stay in Case

Longtime Orange County medical device executive James V. Mazzo has asked a judge for a stay in his federal insider trading case, according to court papers.

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China Investor Wraps up Alliance Deal

Newport Beach-based Alliance HealthCare Services Inc. said today that Fujian Thai Hot Investment Co. completed its purchase of a majority stake in the medical imaging company.

Hospital Operator Cuts Nearly 200 Jobs

Fountain Valley-based MemorialCare Health System will cut 194 jobs as part of its planned closure of the San Clemente location of its Saddleback Memorial Medical Center, according to a state filing.

Healthcare Vet Brings Once-Shelved Device to Market

HEALTHCARE: Incontinence prevention product sold online

Longtime OC medical device executive Thomas Berryman is back in business with a new company and device to battle female stress urinary incontinence.

Insurance Unit Signs Deal With Drug Store Chain

Members Can Get Rx At Walgreens or By Mail

A unit of Minnesota health insurance giant UnitedHealth Group Inc. with an office in Irvine has struck a long-anticipated “preferred partnership” with a major drugstore chain.

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MemorialCare to Cut 194 Jobs in SC

Fountain Valley-based MemorialCare Health System will be cutting 194 jobs as part of its planned closure of the San Clemente location of its Saddleback Memorial Medical Center, according to a state filing.

He Felt Your Pain

Proove Helps Docs Manage Patients’ Discomfort

Brian Meshkin sought a way to help doctors make better decisions in the specialty of pain management, acting on the desire in 2009 when he created Irvine-based Proove Biosciences Inc.

Two OC Components Makers Join Forces

San Clemente-based rubber products maker IRP Group Holdings recently agreed to combine with Garden Grove-based ProPlas Technologies on undisclosed terms.

Device Maker Focal Raises $3.8 Million

Aliso Viejo-based Focal Therapeutics Inc. raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

Senate Committee Passes Pack of Device Reform Bills

Designed to Speed FDA OK for Certain Treatments

A cause dear to the hearts of medical device makers in Orange County and elsewhere—regulatory reform—is moving along in the U.S. Senate.

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Edwards Adds Director

Irvine-based Edwards Lifesciences Corp. appointed Steven Loranger to its board of directors.

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Aliso Viejo Device Maker Gets $3.8M

Aliso Viejo-based Focal Therapeutics Inc. has raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

Life Sciences Logistics Specialist Grows Into New Irvine HQ

HEALTHCARE: Cyroport more than doubles space, eyes 2nd shift

Cryoport Inc.’s recent move to Irvine from Lake Forest is “coming together very nicely” on the heels of a growth spurt, according to its chief executive.

Regulators Grant New Edwards Sapien XT Clearance

Can Now Be Used For A Different Procedure

Irvine-based Edwards Lifesciences Corp.’s Sapien XT replacement transcatheter heart valve gained another approval this month.

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Mission Hospital Names New COO

Mission Hospital said today that Tarek Salaway is its new chief operating officer.

CHOC Eyes More Collaboration With Counterpart in SD

HEALTHCARE: Pediatric specialists consider move into managing care

Children’s Hospital of Orange County and Rady Children’s Hospital in San Diego are contemplating pursuing a state license that could make them eligible to more closely manage healthcare delivery for nearly 500,000 children in the region.

REIT Looks to Resolution of Texas Center Problems

Tenant Default Puts Facilities on Block

Irvine-based healthcare real estate investor and owner Sabra Healthcare REIT Inc. is moving toward the end of a long-running challenge with one of its major tenants.

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MemorialCare Closing SC Site

Fountain Valley-based MemorialCare Health System said today that it will close its Saddleback Memorial Medical Center’s San Clemente campus on May 31.

LA’s Wealthiest Gets Another Foothold in OC

HEALTHCARE: Drug company might compete with prior venture

One of the latest creations of Los Angeles-based billionaire entrepreneur Dr. Patrick Soon-Shiong is making a big bet on an Orange County cancer drug developer.

OC Device Makers Make Deals to Boost Competencies

Buys Over Past Year Buck Cost-Containment Trend

An Orange County exception: Recent large deals in the U.S. medical device industry have followed a trend of portfolio diversification as hospital customers pressure device makers to hold down costs and move away from pricey implants.

St. Joseph Hoag Boss Talks New Health Concept

‘Kinetic’ to Spread After Debut in Newport Center

Irvine-based St. Joseph Hoag Health’s emphasis on “population health management” is one of the driving forces in its participation in Newport Beach-based landlord Irvine Company’s new Kinetic project.

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Peregrine Drops Trial; Shares Crash

Shares of Tustin-based drug developer Peregrine Pharmaceuticals Inc. fell sharply today, a day after the company said it would discontinue a third-phase clinical trial.

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Masimo Q4 Profits, Revenues Up

Irvine-based patient monitor maker Masimo Corp. today reported financial results.

Allergan Boss To Have Key Position After Pfizer Combo

HEALTHCARE: OC businesses to be part of newly created brands unit

Allergan PLC’s Irvine hub for ophthalmology and medical aesthetics is poised to join a new operating unit after Pfizer Inc. wraps up its $160 billion buy of the drugmaker.

UCI Health Search Chair Reflects on Federoff Selection

Process Also Resulted In New Vision for Enterprise

UC Irvine Health, the University of California-Irvine’s health enterprise, set out to find a chief executive to succeed the now-retired Terry Belmont last year, an effort that took some twists and turns prior to the naming of Dr. Howard Federoff as the permanent chief last month.

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Quality Systems Names New CFO

Irvine-based Quality Systems Inc. appointed James Arnold Jr. to the post of chief financial officer, effective March 1.

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CHOC Joins Cancer Initiative

Children’s Hospital of Orange County has joined the Cancer Moonshot 2020 initiative designed to speed development of cancer cures through immunotherapy.

Kiani Looks for Quantum Leap on Safety Movement

HEALTHCARE: Aims to double number of lives saved to 50,000

Masimo Corp. Chief Executive Joe Kiani wants his brainchild, the Irvine-based Patient Safety Movement Foundation, to reach 50,000 lives saved this year through eliminating medical errors in hospitals.

St. Joseph Gets Home Nurse Franchises

Irvine-based St. Joseph Health bought 26 Nurse Next Door franchises with an option to buy 12 more.

CareTrust Ups Credit, Pays Off Debt, Buys Properties

Wants to Focus on Buys Pipeline Without Equity

San Clemente-based CareTrust REIT Inc. is keeping itself busy as February unfolds by reworking its credit, paying off debt and making deals.

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