Orange County Business Journal

Allergan Buyer Could Make Irvine HQ For Specialty Pharma

HEALTHCARE: Boss of N.J.-based Actavis likes OC’s appeal, talent

Orange County will remain a nerve center for Allergan Inc., according to the chief executive of its future parent company.

UCI Health Partners With IE Hospital

UC Irvine Health has struck a deal on an affiliation with Corona Regional Medical Center, a midsize hospital just across the Riverside County line.

Kaiser Considers Internal Candidates For Top Executive in OC

HEALTHCARE: Harrier interim; final choice expected next month

Julie Miller-Phipps says Kaiser Foundation Hospitals and Health Plan will likely stick with the familiar as it seeks to fill her role as its top executive in Orange County, where consideration of internal candidates is under way.

Seattle Drugmaker With Local Plant Files for Bankruptcy

Performance of Dendreon Provenge Drug Elusive

Five years ago, the Business Journal wondered whether a “biotech beachhead” was going to take root in Orange County, an area long known for its domination by the medical device industry.

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Valeant, Ackman Cash Out of Allergan

Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP have slashed their stake in Irvine-based Allergan Inc. after losing a bidding war to Actavis PLC.

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SEC Suspends Trading of Penny Stock

The U.S. Securities and Exchange Commission said today that it halted trading in Anaheim-based Wholehealth Products Inc. and three other penny stock companies that “claim to be developing products and services in response to the Ebola [virus] outbreak.”

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Ackman Withdraws From Meeting

Activist investor Bill Ackman said today that he would withdraw from a special shareholders’ meeting he had planned in the wake of Irvine-based Allergan Inc.’s $66 billion acquisition by Actavis PLC, according to CNBC.

Aliso Viejo Device Maker Raises $15M

Aliso Viejo-based device maker OrthAlign Inc. completed a $15 million round of funding. The company makes devices used in orthopedic procedures.

Senator Visits CHOC to Publicize Patient-Safety Effort

Preventable Patient Deaths ‘Makes You Choke Up’

A major supporter of the patient safety movement led by Irvine-based Masimo Corp.’s Chief Executive Joe Kiani stopped by Orange County this month.

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Edwards Lifesciences Appoints Director

Irvine-based heart valve maker Edwards Lifesciences Corp. said today that Nicholas Valeriani is a new member of its board of directors.

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Allergan, Actavis in “Advanced Talks”

Irvine-based drug maker Allergan Inc. is in advanced negotiations with potential “white knight” suitor Actavis PLC, according to a Bloomberg report Wednesday.

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Allergan, Actavis in “Advanced Talks”

Irvine-based drug maker Allergan Inc. is in advanced negotiations with potential “white knight” suitor Actavis PLC, according to a Bloomberg report.

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OrthAlign Gets $15 Million

Aliso Viejo-based device maker OrthAlign Inc. completed a $15 million round of funding. The company makes devices used in orthopedic procedures.

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ICU Surges on Earnings Revision

San Clemente-based ICU Medical Inc.’s stock shot up today after it forecast stronger financial results for the full year.

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Hoag Gives $3.7M to Senior Center

Hoag Memorial Hospital said today it donated $3.775 million to the new Huntington Beach Senior Center in the Park.

Allergan Shares Climb on Reports of Actavis’ Interest

HEALTHCARE: Drugmaker still mum on ID of latest suitor

Investors seem to be warming to the possibility of a combination of Irvine-based Allergan Inc. and “white knight” Actavis PLC.

Medtronic Details Exec Structure Post Covidien Buy

Changes Precede Nearly Doubling Workforce

Medtronic Inc., which has about 700 employees in Orange County, recently detailed a management team and restructured its business segments in the run-up to its proposed $42.9 billion buy of fellow device maker Covidien PLC, which has 670 local workers.

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Allergan Said in Talks with Actavis

Irvine-based drug maker Allergan Inc. is in active talks with New Jersey-based Actavis PLC about a deal, sources familiar with the situation told Bloomberg today.

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Allergan Approached by Actavis, Reuters Says

A regulatory filing by Irvine-based Allergan Inc. today confirmed that is has been approached by another company about a potential transaction.

Ackman Puts Allergan Directors at Forefront of Takeover Fight

HEALTHCARE: Sticks with candidates in face of critique

Expect the fight over Irvine-based Allergan Inc. to turn toward the drugmaker’s board room.

Questcor’s $5.8B Bow

Big Revenue Gains Precede Big Pharma Deal

The company that topped the Business Journal’s 2014 list of the fastest-growing large public companies based in Orange County has already taken itself out of the running for next year’s title.

Cold Heat

Cryoport Gets Goods There Cold, Grows Revenue by Nearly 400%

Cryoport Inc.’s chilly business is fueling red-hot sales growth.

Tenet Names Placentia Hospital CEO

Tenet Healthcare Corp. named Audrey Gregory the new chief executive of Placentia-Linda Hospital.

CEO: Quality Systems Showed ‘Marked Improvement’

Most of Software Maker’s Growth Through Mirth

Irvine-based healthcare software maker Quality Systems Inc. is showing “marked improvement across all fronts of the organization,” according to Chief Executive Steve Plochocki.

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AtheroNova Prices Offering

Irvine-based biotechnology company AtheroNova Inc. priced an offering of 4 million shares of its stock and warrants to buy its stock.

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Placentia-Linda Hospital Names Chief Executive

Tenet Healthcare Corp. said today that Audrey Gregory is the new chief executive of Placentia-Linda Hospital.

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CareTrust Buys Idaho Senior Housing

Mission Viejo-based CareTrust REIT Inc. said today that it will spend $12 million to buy three senior housing facilities.

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Valeant Might Up Bid; Allergan Beats the Street

Valeant Pharmaceuticals International Inc. said today it would be willing to raise its hostile takeover bid for Irvine-based Allergan Inc. to $200 a share.

Abbott Medical Optics Unveils Two New Products

FDA OK’d Their Laser for Cataract Surgery Use

Abbott Medical Optics, a Santa Ana-based business unit of Chicago-based Abbott Laboratories, is introducing a pair of products for laser cataract surgeries.

Kaiser Chief Ends Long OC Run, Heads to ATL

HEALTHCARE: No word yet on successor to veteran exec

Kaiser Foundation Hospitals and Health Plan is set to get a new top official in Orange County.

As the Takeover Turns: Advantage Valeant—Can It Hold Serve?

HEALTHCARE: Q3 boost; Allergan gives lengthy critique

Valeant Pharmaceuticals International Inc. got some traction on its hostile takeover attempt of Allergan Inc. last week, with a third-quarter earnings report reversing a weekslong dip that had dragged its bid below the market value of the Irvine-based drugmaker.

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Kareo Raises $15M

Irvine-based Kareo Inc. said today that it received $15 million in mezzanine debt financing, bringing its total capital raised this year to $47 million.

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Edwards Beats Estimates

Irvine-based Edwards Lifesciences Corp. after markets closed Thursday posted third-quarter financial results that exceeded expectations, and the stock continued to rise on Friday.

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Miller-Phipps to Kaiser’s Georgia Plan

Kaiser Permanente said Friday that Julie Miller-Phipps, vice president and executive director of Kaiser Foundation Hospitals and Health Plan in Orange County, was named president of Kaiser Foundation Health Plan of Georgia.

Lifestyle Healthcare Company Grows, Rumored for IPO

HEALTHCARE: Alphaeon closes in on nine figures

Irvine-based Alphaeon Corp.’s focus on “lifestyle healthcare” is pushing the company close to nine figures in revenue and positioning it for a potential initial public offering.

REIT Spends $59 Million on Properties

Irvine-based Sabra Healthcare REIT Inc. said it bought eight properties in three states for $59.1 million.

Edwards Lifesciences’ Pipeline Cited on Upgrade

Plus Good Clinical Trial News, Valve’s US Release

Irvine-based heart valve maker Edwards Lifesciences Corp.’s pipeline and positive second-quarter news recently landed it an upgrade from Chicago-based Zacks Investment Research to a “buy” ranking.

Allergan Takeover Rhetoric Intensifies Amid Skepticism

HEALTHCARE: Ackman goes on offensive, questions continue

Irvine-based Allergan Inc.’s long-running battle to stay independent marches on as hostile pursuer rhetoric heats up and many analysts express doubt about the deal going through.

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Miller-Phipps to Kaiser’s Georgia Plan

Kaiser Permanente said today that Julie Miller-Phipps, vice president and executive director of Kaiser Foundation Hospitals and Health Plan in Orange County, was named president of Kaiser Foundation Health Plan of Georgia.

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Allergan Laying Off 40 in Carlsbad

Irvine-based drug maker Allergan Inc. filed papers with state officials saying it will lay off 40 workers in Carlsbad, effective Nov. 28, according to a Worker Adjustment and Retraining Notification notice filed with the state Employment Development Department.

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Hoag Invests in Surgery Center

Hoag Memorial Hospital Presbyterian said it’s invested an undisclosed amount of money in the Newport Bay Surgery Center in Newport Beach.

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Sabra Spends $59.1M for Properties

Sabra Healthcare REIT Inc., which is based in Irvine, said today that it bought eight properties in three states for $59.1 million.

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Alphaeon Buys Utah Software Co.

Irvine-based Alphaeon Corp. has bought the worldwide licensing rights to TouchMD, a line of software for doctors, for $22 million.

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Ensign Adds Nine SD Area Facilities

Mission Viejo-based Ensign Group Inc. said today that it will buy nine skilled nursing and assisted living facilities, a home health agency, and a private home-care business in the San Diego area from El Cajon-based Shea Family Care.

MemorialCare, Anthem Create Reform-Age Network

HEALTHCARE: Joins insurer with 7 hospitals, health systems

Orange County’s hospital market is continuing its move toward networks and partnering in the age of healthcare reform.

MemorialCare Acquires Imaging Centers

Fountain Valley-based MemorialCare Health System said its MemorialCare Medical Foundation is now the sole owner of eight imaging centers in Orange County and Long Beach (see related story on page 4).

Anido Stays Busy in NB for New Jersey Drug Company

Eye-Device Exec Leads Aerie Financing Move

Longtime Orange County eye device executive Vicente Anido Jr.’s marching on with a new company.

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Allergan Hikes Q3 Expectations

Irvine-based Allergan Inc. said today that it expects to report a third-quarter profit more than 20% higher than previously expected.

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Valeant to Boost Allergan Bid

Canada-based Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management are planning to hike their hostile bid to buy Irvine-based Allergan Inc. by $15 a share, according to a Wall Street Journal report today.

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Report Says Actavis to Make New Allergan Pitch

Irvine-based Allergan Inc. will be approached again about being bought by Actavis PLC, according to a Reuters report today.

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