Orange County Business Journal

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Masimo Q2 Misses Forecasts

Irvine-based medical device maker Masimo Corp. today posted second-quarter results that missed Wall Street expectations.

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Advisory Firms Call for Allergan Special Meeting

Two proxy advisory firms now are backing activist investor Bill Ackman in his efforts to call a special meeting of Irvine-based Allergan Inc. shareholders as part of a hostile takeover bid from Valeant Pharmaceuticals International Inc.

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Pignatelli Resigns From Biolase’s Board

Federico Pignatelli, a director of Irvine-based Biolase Inc., said today he was resigning from the company’s board and withdrawing his nomination for election at its upcoming annual meeting.

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Mazzo to Segerstrom Board

The Segerstrom Center for the Arts in Costa Mesa said today that James Mazzo is a new member of its board of directors.

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St. Joseph Hoag Health, CHOC in ACO

Irvine-based St. Joseph Hoag Health and Children’s Hospital of Orange County said today that they would form an accountable care organization.

Beckman Coulter to Keep Siemens Buy Up North

Microbiology Unit To Stay In West Sacramento

Beckman Coulter Inc., a Brea-based maker of diagnostic testing instruments and supplies, is gearing up to digest its newest acquisition.

List of Prospects for Allergan Acquisition Emerges

HEALTHCARE: Drug maker could derail hostile bid with deal

Names are emerging as potential buys for Irvine-based Allergan Inc. as it strives to derail Valeant Pharmaceuticals International Inc.’s hostile takeover attempt.

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Allergan Contends Insider Trading in Suit against Valeant, Ackman

Irvine-based Allergan Inc. filed a federal lawsuit today that contends hostile suitor Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman engaged in insider trading.

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Newport Beach Biopharmaceutical Company Raises $13.6M

Newport Beach-based Cold Genesys Inc. said it received $13.57 million in first round of funding.

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Newport Beach Biopharmaceutical Company Raises $13.6M

Newport Beach-based Cold Genesys Inc. said it received $13.57 million in first round of funding.

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Valeant Shares Dip; Allergan Bid Still On

Shares of Valeant Pharmaceuticals International Inc., which is attempting to take over Irvine-based Allergan Inc., fell sharply today after it cut its 2014 and 2015 profit forecasts.

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Edwards’ Profit Gain Fueled by Settlement

Irvine-based Edwards Lifesciences Corp. today reported second-quarter results that surpassed Wall Street’s expectations.

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Edwards’ Profit Gain Fueled by Settlement

Irvine-based Edwards Lifesciences Corp. today reported second-quarter results that surpassed Wall Street’s expectations.

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MemorialCare Hospital Enters Pediatric Care Alliance

Fountain Valley-based MemorialCare Health System said today that its Miller Children’s Hospital formed an alliance with Torrance Memorial Medical Center.

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Alphaeon Buys Eye Product Maker

Newport Beach-based Alphaeon Corp. said today that it bought Physician Recommended Nutriceuticals LLC in a deal that it said could be worth up to $55 million.

San Clemente Device Companies Make FDA Moves

One Gets Device Clearance, Other Files Submission

Two small medical device makers in South County have had recent dealings with the Food and Drug Administration.

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Quality Systems Misses on Profit, Beats on Revenues

Irvine-based Quality Systems Inc. today posted mixed financial results for the three months ended June 30.

Print Service Provider in Deal for Security Specialist

Auxilio Pays $2.7M for San Clemente Company

Mission Viejo-based Auxilio Inc., a managed print services company serving the healthcare industry, said it is acquiring information security manager Delphiis in San Clemente this month in a $2.7 million cash and stock deal.

No Local Changes Seen After Medtronic Buy

HEALTHCARE: Q4 closing expected for $42.9B deal

Medtronic Inc. is likely to keep its Orange County operations basically intact, even after it wraps up a multibillion-dollar acquisition that could make it one of the top five medical device makers by local employment.

Kaiser Permanente Official Discusses Health Trends

Small Providers, Plans Could Join Under Reform

An official who works for the largest health maintenance organization operating in OC recently visited an unusual forum to talk health trends: an investment bank that covers some of its for-profit competitors.

USC’s Keck Gets OC Medical Practice

Keck Medicine of USC, the University of Southern California’s medical enterprise, acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

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USC’s Keck Buys OC-Based Practice for Cancer Network

Keck Medicine of USC, the University of Southern California’s medical enterprise, has acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

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Ackman, Pershing Square Present Allergan Board Candidates

Activist investor Bill Ackman and his Pershing Square Capital Management LP today unveiled a slate of director candidates for Irvine-based Allergan Inc.

Intraocular Lenses Expected to Spur Abbott Growth

Recently Got European Approval for Device

Abbott Laboratories’ vision care unit, which has more than 600 workers in Orange County, represents “significant prospects” for the company, according to a recent article on the Seeking Alpha investor website.

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Regulators Clear Edwards’ Monitor

Edwards Lifesciences Corp., an Irvine-based medical device maker, said today that it received Food and Drug Administration clearance for its ClearSight device.

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FDA Approves One Allergan Drug, Delays Another

Irvine-based Allergan Inc. said today that the Food and Drug Administration delayed approving its new acute migraine headache drug and separately approved a drug for treating diabetic macular edema.

Allergan Founder Talks About Company’s History

Execs ‘Wore a Lot of Hats’ in Early Days

Gavin Herbert, founder of Irvine-based drug maker Allergan Inc., is keeping mum on his creation’s effort to fight off a hostile takeover bid by Valeant Pharmaceuticals International Inc.

St. Joseph’s Head Has Vision for Mission

Proctor Nurtures Passion for Healthcare

Deborah Proctor is cognizant of passion, skills, values and mission in her role as leader of one of Orange County’s dominant healthcare providers.

Edwards Comeback Continues on OK for Sapien XT

HEALTHCARE: Shares up nearly 30% after rough 2013

Edwards Lifesciences Corp.’s next generation of less-invasive heart valves is making its domestic debut, providing a boost that has extended a monthslong rally for shares of the Irvine-based heart valve maker.

Stretching Herself

Allergan Executive Yearned to Reach Beyond Medical Practice

Dr. Karen Smith sought a wider platform to help people beyond what she could do as a practicing physician, a path that led her into the business side of healthcare.

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Allergan Settles With Ackman on Poison Pill

Irvine-based drug maker Allergan Inc. said today that it reached a settlement with activist investor Bill Ackman’s Pershing Square Capital Management LP that clears the way for the hedge fund to solicit backing for a special shareholders’ meeting.

Look for New Level of Intensity on Allergan

HEALTHCARE: Valeant expected to crank up efforts as clock ticks

Expect Valeant Pharmaceuticals International Inc. to go into overdrive this week as it takes its hostile takeover bid for Allergan Inc. directly to shareholders of the Irvine-based drug maker.

Pair of Edwards Competitors Active This Month

One Gets 2nd Valve OK, Other Sues Another Maker

Two companies that are seeking to compete with Irvine-based Edwards Lifesciences Corp. in the less-invasive replacement heart valve market have had a busy month.

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FDA Approves Edwards’ New Heart Valve

Irvine-based Edwards Lifesciences Corp. said today that the Food and Drug Administration approved its Edwards Sapien XT less-invasive heart valve.

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FDA Approves Edwards’ New Heart Valve

Irvine-based Edwards Lifesciences Corp. said today that the Food and Drug Administration approved its Edwards Sapien XT less-invasive heart valve.

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Medtronic in $42B Deal for Covidien

Minneapolis-based medical device maker Medtronic Inc. said today that it is buying fellow device maker Covidien plc for $42.9 billion in cash and stock.

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Allergan Releases Critical E-Mails in Takeover Fight

Irvine-based Allergan Inc. today released negative comments made about suitor Valeant Pharmaceuticals International Inc. by bankers with Morgan Stanley—one of the investment banks working for Valeant in its hostile $53 billion takeover attempt of Allergan.

I-Flow Gets New Headquarters to Go With Fresh Products

HEALTHCARE: Parent firm set for public company spinoff

Medical device maker I-Flow LLC is settling into its new Irvine headquarters and preparing for life as a unit of a yet-to-be-created public company.

Manufacturer Opens Irvine R&D Center

BIT Group, a contract developer and manufacturer of diagnostic testing products, opened a research and development center in the Irvine Spectrum.

Allergan’s Summer Schedule: Test of Endurance

HEALTHCARE: Time could be key to holding off takeover bid

It looks as though there’s no summer break in store for Allergan Inc. Chairman and Chief Executive David Pyott, who appears ready to spend the coming months fighting a hostile takeover attempt by Valeant Pharmaceuticals International Inc.

Stock Guru: Beckman Coulter Parent Could Break Up

Cramer Speculates Danaher Would Be Stronger If Split

Danaher Corp., the conglomerate that owns Brea-based medical testing company Beckman Coulter Inc., could be in line for a potential breakup, according to quirky stock guru Jim Cramer.

Innovation Institute Establishes Venture

The La Palma-based Innovation Institute, a provider of business services, products and investment management services to health systems, formed a new staffing business.

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Ackman, Pershing Square Sue Allergan

Irvine-based drug maker Allergan Inc. was sued today by activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Allergan Board Rejects New Valeant Bid

Irvine-based Allergan Inc. said today that its board rejected a revised hostile takeover bid worth about $53 billion from Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP.

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Innovation Institute Forms Staffing Company

The La Palma-based Innovation Institute, a provider of business services, products and investment management services to health systems, said today that it formed a new staffing business.

Ensign Shares Plummet After REIT Spinoff, Rise on Debut

HEALTHCARE: New entity owns nursing home properties

Orange County has a new publicly traded healthcare company among its ranks.

Growing Sector Could Accelerate Quality Systems

Revenue Cycle Managing Has Much Room to Grow

Irvine-based Quality Systems Inc. will get a bump from the growing revenue cycle management sector in coming years, according to a recently issued analyst report.

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Innovation Institute Forms Staffing Company

The La Palma-based Innovation Institute, a provider of business services, products and investment management services to health systems, said today that it formed a new staffing business.

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Miller Children’s Hospital Changes Name

Fountain Valley-based MemorialCare Health System said that its Miller Children’s Hospital Long Beach is now known as Miller Children’s & Women’s Hospital Long Beach.

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Ackman Says He'll Seek to Replace Allergan Directors

Activist investor Bill Ackman said today that he and his Pershing Square Capital Management LP will call for a special shareholders’ meeting of Allergan Inc. in order to remove six of its directors—the latest in the ongoing hostile takeover effort by Valeant Pharmaceuticals International Inc.