Orange County Business Journal

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Glaukos CFO to Retire in 2017

Glaukos Corp. in Laguna Hills said Chief Financial Officer Richard Harrison will retire next year.

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Innovation Institute Buys IT Company

The La Palma-based Innovation Institute said today that it has acquired Corona-based information technology specialist Hospitality Business Network Solutions. A purchase price was not disclosed.

Analysts Open Edwards Coverage With Neutral Rating

Caution High Valuation Could Suffer With Slip-Up

Edwards Lifesciences Corp.’s effort to create a “catheterized revolution” in heart valve treatment has landed it new institutional analyst coverage.

System to Put $100M into Mental Health

The newly formed Providence St. Joseph Health said it’s launching a $100 million effort toward improving mental healthcare in communities it serves.

Heart Valve Maker Names Board Member

Irvine-based Edwards Lifesciences Corp., a maker of replacement heart valves and other cardiovascular devices, named Leslie Heisz to its board of directors, bringing it to nine members.

MemorialCare Strategy Pays Off in Boeing Contract

HEALTHCARE: New service option for aerospace workers

MemorialCare Health System’s ongoing effort to diversify care delivery has reached a large Orange County employer with a tailored offering of services, and the Fountain Valley-based provider sees the possibility for similar deals in the future.

Masimo Gets OK for Device That Moves With Patient

Says Monitor Avoids False Readings of Past Products

The Food and Drug Administration closed out June with a pair of approvals for an established Orange County medical device maker and a startup.

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Providence St. Joseph in $100M Mental Health Effort

The newly formed Providence St. Joseph Health said today it is launching a $100 million effort toward improving mental healthcare in communities it serves.

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Edwards Names New Director

Irvine-based Edwards Lifesciences Corp. today named Leslie Heisz to its board of directors.

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Hoag to Perform Cancer Trials

Hoag Memorial Hospital Presbyterian’s Hoag Family Cancer Institute has launched a first-phase clinical trial program.

Innovation Institute Company Buys Fullerton Building

Realty Firm Aims to Grow St. Jude, Own Portfolio

A portfolio company of the La Palma-based Innovation Institute is making real estate moves.

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Cannabis Science to Irvine

Cannabis Science Inc. moved its corporate headquarters to Irvine from Colorado Springs, Colo.

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Saddleback Memorial CEO Retires

Fountain Valley-based MemorialCare Health System said today that Steve Geidt is retiring as chief executive of Saddleback Memorial Medical Center in Laguna Hills, effective in September.

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UCI, Harvard Renew Partnership

University of California- Irvine said today it and the Harvard Pilgrim Health Care Institute will receive up to $6.7 million in renewed federal funding to help improve patient safety in healthcare settings.

Ex-Allergan Chief Offers Another View of Valeant

HEALTHCARE: Pyott says it should’ve pursued more buys itself

David Pyott says he would have done a few things differently leading up to his ultimately successful attempt to beat back a hostile takeover attempt of Allergan Inc. about two years ago.

Innovator on New Path With Nitroglycerine Drugmaker

Pham Intends to Maximize Value of Tried Treatments

Pharmaceutical entrepreneur Quang X. Pham, who made his name at Orange County-based startups in the 2000s, is back on the scene with a new company, Espero Pharmaceuticals Inc.

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NB Biotech Gets $7.5M

Newport Beach-based Blueprint Bio Inc. has received $7.5 million in Series A funding.

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AG Grants Conditional Consent to Providence-St. Joseph Combination

California Attorney General Kamala Harris has conditionally consented to Irvine-based St. Joseph Health’s proposed affiliation with Providence Health and Services.

Stem Cell Therapies Firm Founder Terms It Distinct

Uses Cell Secretions, Bypassing Hurdles

Irvine-based AiVita Biomedical Inc., the latest creation of local stem cell entrepreneur Hans Keirstead, is working to set itself apart from other companies in the field that have struggled.

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Rehab Hospital Opens in Aliso Viejo

AAC Holdings Inc. said today it opened Laguna Treatment Hospital in Aliso Viejo.

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Terumo Buys Aliso Device Maker

Aliso Viejo-based Sequent Medical Inc. has been acquired for $280 million by Japan’s Terumo Corp.

New OC Company Developing Cannabis-Based Drug

Compound Could Treat Chemo-Induced Pain

Douglas Ingram’s drug development work encompasses more than just Alzheimer’s disease, which his Irvine-based Chase Pharmaceutical Corp. focuses on.

Keirstead Buys Back In on Stem Cells

Orange County stem cell entrepreneur Hans Keirstead refers to his newly established biotechnology company as a “startup with mature assets.”

Allergan Vet Brings Pharma Startup to OC

HEALTHCARE: Keys on talent pool fostered by former employer

Drug development startup Chase Pharmaceuticals Corp. is now being led from Irvine with a familiar face at the helm—Chief Executive Douglas Ingram, a former president of Allergan Inc.

Allergan Gets Japanese Approval for New Botox Use

Drug Will Treat Crow’s Feet in Those Up to 65

A product developed by Allergan PLC’s medical aesthetics hub in Irvine has a new use in the fast-growing Japanese market.

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CareTrust Buys in Michigan

San Clemente-based CareTrust REIT Inc. said today it bought four senior housing properties in Michigan.

REIT and Repeat

Healthcare Real Estate Investment Trusts Multiply In Favorable Climate

Orange County, while primarily known as a center of medical device companies, is also home to several sizable companies that are in the business of owning and investing in real estate where healthcare is delivered, and they aim to grow by focusing on private-pay properties to achieve more reliable rents.

Medical Business Services Firm Aspires

HEALTHCARE: Advantmed grows beyond records collection

Santa Ana-based Advantmed LLC aims to help doctors get paid in the wake of reform-fueled changes in payment processes.

Edwards Talks up Victories in and out of Test Lab

Unit Wins in Court As Valves Get Good Results

Edwards Lifesciences Corp. has scored wins in the trial court and clinical trial arenas.

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Alphaeon CEO Steps Down

Robert Grant is no longer the chief executive of Irvine-based Alphaeon Corp., a lifestyle healthcare company he founded three years ago.

Details of Pending Abbott-St. Jude Merger Unclear

HEALTHCARE: Combo to make both more competitive

It’s not yet clear how Abbott Laboratories’ pending $25 billion buy of St. Jude Medical Inc. will impact the latter’s Orange County operations.

Device Maker Plans Summer Intro of Weight-Loss Aid

Transplant Startup from Ariz. Sees Breath Tool as Innovator

A startup company that recently relocated to Aliso Viejo is aiming to introduce breath analysis as a tool for weight management.

Pyott Slated to Return to Spotlight at Eye Conference

Will Be Interviewed By Another Company Veteran

David Pyott, retired chief executive and chairman of Allergan Inc., now Allergan PLC, will be the headliner next month at the annual Ophthalmology Technology Summit put on by OCTANe, an Aliso Viejo-based booster group for life sciences and other forms of technology.

Dallas Biotech to Costa Mesa

Dallas-based Cerebain Biotech Corp. has moved its corporate headquarters from Dallas to Costa Mesa.

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Mission Hospital Names CAO

Mission Hospital today named Michael Beck chief administrative officer, a new position, for its Laguna Beach campus.

Seeing Pink

Breast Cancer Nonprofit Head Values Its Business Connections

Lisa Wolter credits passion and a variety of other factors for her long-running career in the nonprofit sector that’s been sewn “with the thread of women’s health.”

Teva Edges Closer to Allergan Generic Deal Wrap

To Bring Estimated $34B, Windfall Could Fuel Deals

Dublin-based Allergan PLC, which has a Botox, medical aesthetics, dermatology and ophthalmology hub in Irvine, is getting close to divesting its generic drug portfolio to Israel-based Teva Pharmaceutical Industries Ltd.

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Allergan Realigns Businesses

Allergan PLC has reorganized its business segments as it prepares to divest its generic drug unit.

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HCP Spinning Off Skilled Nursing, Assisted Living

Irvine-based HCP Inc. will spin off its HCR ManorCare skilled nursing and assisted living businesses into a separate, publicly traded real estate investment trust.

Providence-St. Joseph Combo Verdict Soon

HEALTHCARE: Joint control, women’s services part of deal

California Attorney General Kamala Harris will decide by June 13 whether Irvine-based St. Joseph Health will be allowed to affiliate with Providence Health and Services.

Edwards CFO Talks Manufacturing Capacity Boost

‘Aggressive Action’ To Leverage Momentum

Irvine-based Edwards Lifesciences Corp. is gearing up to boost its transcatheter replacement heart valve manufacturing capacity, according to its chief financial officer.

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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.

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