Orange County Business Journal

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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.

Masimo In Pitch for Niche at Tennis Tourney

HEALTHCARE: Consumer twist on medical device; ESPN spot

Irvine-based medical device maker Masimo Corp. will look to win a place in the world of big-time athletics as part of a marketing effort anchored by its sponsorship of the BNP Paribas Open tennis tournament in Indian Wells, which runs through this week.

Actavis to Send Medical Dermatology Line to OC

HEALTHCARE: Still no word on job additions, cutbacks here

The “new” Allergan Inc. is set to move its medical dermatology business to Irvine as part of its specialty pharmaceutical base in the wake of Actavis PLC’s $70 billion-plus buy of the Botox maker.

Optimism Prevails After Tumultuous Year at Biolase

New CEO Says ‘Critical Changes’ Position it Well

Irvine-based Biolase Inc.’s chief executive said he expects what he refers to as the laser device maker’s “transformation” to continue this year.

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Kareo Buys San Francisco Company

Irvine-based Kareo Inc. said today that it bought San Francisco-based DoctorBase Inc. for an undisclosed amount.

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Allergan Shareholders Vote for Actavis Deal

A majority of Irvine-based Allergan Inc.’s shareholders voted this morning to accept a takeover bid currently valued at $70.7 billion from Actavis PLC.

Glaucoma Specialist to Take Next Regulatory Step

HEALTHCARE: Device maker in Aliso Viejo has raised $77M

A well-funded eye device startup in Aliso Viejo is making regulatory progress in its quest to bring a new product to treat glaucoma to the U.S. market.

Hoag Takes Cardiac Care to Heart With New Center

HEALTHCARE: ‘Integrated’ services to keep patients in OC

Hoag Memorial Hospital Presbyterian is boosting its heart care offerings with an eye toward keeping patients in Orange County.

Former Allergan Target Draws $14.5B Offer From Valeant

$10.1 Billion for Salix Pharmaceuticals in N.C.

A drugmaker linked to Irvine-based Allergan Inc. during its successful fight against an unsolicited takeover bid last year is set to be acquired by the same suitor: Valeant Pharmaceuticals International Inc. in Canada.

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Biolase Report Could Presage Growth

Irvine-based Biolase Inc.'s reported fourth-quarter and 2014 financial results this week that closed out a year of management shake-ups and difficulties that its chief executive said are behind the company.

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AtheroNova Files for Bankruptcy

Irvine-based AtheroNova Inc. and a subsidiary have filed for bankruptcy protection.

Device Maker Follows Side Effect Into New Niche

HEALTHCARE: Switch from respiratory to blood pressure aid

Rox Medical Inc. has shifted its business model as it seeks to lower the pressure—and possibly lure a buyer.

Proctor to Play Role in Pick of Successor at St. Joe

HEALTHCARE: CEO guided system into Hoag partnership

Veteran Orange County healthcare executive Deborah Proctor’s imprint will be felt by her successor.

Abbott Medical Brings Out New Intraocular Lenses

Two Versions of Tecnis To Restore Vision

Santa Ana-based Abbott Medical Optics continues to forge ahead with new products.

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2 OC Hospitals on Top 50 List

Saddleback Memorial Medical Center, with campuses in Laguna Hills and San Clemente, placed among the top 50 hospitals in America, according to review organization Healthgrades Operating Co. Inc.

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Pyott in Line for $100M Payout

Allergan Inc. Chief Executive David Pyott is in line for a severance payment of $100 million as a result of Actavis PLC’s pending buy of the Irvine-based drug maker, according to a federal filing.

Harvard Makes Case Study of Hoag Orthopedic Institute

HEALTHCARE: Reform key context for research, report

How is the 5-year-old joint venture between nonprofit Hoag Memorial Hospital Presbyterian and a pair of doctors’ groups going?

For-Profit Hospitals Steady in Wake of Federal Reform

HEALTHCARE: Continued role seen for group

Nonprofit hospital affiliations and network creation in the wake of federal healthcare reform have dominated Orange County’s hospital headlines in recent months.

Quality’s New Quantity

Adoption of Electronic Medical Records Prompts Diversification at Software Maker

Quality Systems Inc. has gone from darling to diversification, and the shift in gears looks to be giving the Irvine-based medical software maker and its shares a shot in the arm.

Allergan Brand Equity Seen as Key to Top Billing

HEALTHCARE: Name better known than buyer in $71B deal

Actavis PLC’s recent decision to take on the name and ticker symbol of Allergan Inc. after it completes its $70 billion acquisition of the Irvine-based drugmaker next month brought plaudits from the local business community, where the move was hailed as a worthy acknowledgment and good business sense.

Irvine-Based REIT Discusses Probe of Biggest Tenant

HCP Says Nursing Home Operator Cooperating

Executives at Irvine-based HCP Inc. are standing behind their largest tenant, which is being investigated by the Department of Justice and several other federal agencies.

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Architect Gives to SC Hospital Effort

Lawrence Armstrong, a San Clemente resident and chief executive of Irvine-based architecture and planning firm Ware Malcomb, said today that his firm will donate $250,000 worth of design and planning services to keep the current Saddleback Memorial Medical Center San Clemente campus open.

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St. Joseph Health Boss to Retire

Irvine-based St. Joseph Health said today that longtime Chief Executive Deborah Proctor will retire from her post at the end of 2015.

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ReShape Raises More Money

San Clemente-based device maker ReShape Medical Inc. raised $6.75 million in debt financing, according to a Securities and Exchange Commission filing.

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Masimo Beats on Q4

Irvine patient monitor maker Masimo Corp. reported financial results after markets closed Tuesday that surpassed Wall Street expectations.

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AtheroNova Shares Down on Debt

Irvine-based drugmaker AtheroNova Inc.’s shares fell sharply Friday after it disclosed that it experienced “an event of default” on a $427,500 loan that triggered defaults on three others.

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