Orange County Business Journal

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.

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.

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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.

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.

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.

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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.

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.

St. Joseph Gets Home Nurse Franchises

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

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MemorialCare, Fresenius Join for Dialysis

Fountain Valley-based MemorialCare Health System said today that it has entered into a joint venture with Fresenius Medical Care North America to operate 15 kidney dialysis clinics in Orange and Los Angeles counties.

Hospitals’ Patient Revenue Up 11% Over Year to $6.9B

Biggest Combine to Reverse Previous Year’s 21% Decrease

Net patient revenue at Orange County’s 28 largest hospitals jumped significantly over the past 12 months while the centers posted a narrow pretax loss.

Q&A

Orange County hospital and medical group executives say this year will be a busy one for them, with new outpatient centers, technology and changes in how they deliver healthcare. The Business Journal’s Vita Reed asked several local CEOs to share their plans as the year rolls out. Edited excerpts of their responses follow.

UCI Health’s New Leader Forges Vision for Enterprise

Plans Efficiencies, New Academic Programs, More

A new leader has taken the helm of UC Irvine Health, the University of California-Irvine’s healthcare enterprise, directly overseeing its academic work and with proximity and oversight of its clinical work, something he said is unique among the five UC campuses with extensive medical operations.

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St. Joseph Health to Run Home Health Franchises

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

Ambry Genetics Adds Test Lab in Aliso Viejo

Genetic testing provider Ambry Genetics Corp. will open a new, 65,000-square-foot laboratory across the street from its Aliso Viejo headquarters this month.

Drugmaker’s New CEO Sets No. 1 Drug Category Goal

HEALTHCARE: Aims to lead in central nervous system drugs

Aliso Viejo-based Avanir Pharmaceuticals Inc.’s newly appointed chief executive has what he calls a “very simplistic” vision for the drugmaker.

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Edwards Beats on Q4; Ups Guidance

Irvine-based Edwards Lifesciences Corp. beat analyst expectations on quarterly revenue and profit and boosted full-year expectations in a report issued after markets closed Tuesday.

Allergan Drug Patent Dispute Resolved With Dismissal

Drugmaker, Hedge Fund Sign Stipulation Order

A patent fight between a hedge fund and Allergan PLC, whose eye and cosmetic medicine hub is in Irvine, has ended after nearly a year.

Medical Device Component Maker Set to Exit OC

MANUFACTURING: Irvine, Anaheim operations to close

Balda C. Brewer Inc. USA, a maker of plastic molds used in medical devices and other products, is closing a plant in Irvine this month and cutting 193 jobs.

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FDA Approves Avanir Migraine Drug

Aliso Viejo-based Avanir Pharmaceuticals Inc. said today that the Food and Drug Administration approved its Onzetra Xsail drug for treating adults’ acute migraine headache.

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Quality Systems Reports Results, Names CTO

Irvine-based Quality Systems Inc. reported financial results that missed Wall Street expectations for the three months ended Dec. 31.

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CHOC Expanding Neonatal Unit

Children’s Hospital of Orange County will expand its neonatal intensive care unit.

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St. Joseph Heritage Health Names New Chief Executive

Irvine-based St. Joseph Health said today that Kevin Manemann is the new chief executive of its St. Joseph Heritage Healthcare physician practice management organization.

Activists Urge St. Joseph-Providence Combo Scrutiny

Fear Possible Faith-Based Access Restrictions

Some advocacy groups are urging regulators not to waive a merger review of Irvine-based St. Joseph Health and Renton, Wash.-based Providence Health and Services’ proposed mega-affiliation.

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Federoff Permanent UCI Health CEO

University of California-Irvine today named Dr. Howard Federoff chief executive of UC Irvine Health.

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Device Maker Gets $38 Million

Irvine-based Axonics Modulation Technologies Inc. raised $38.5 million in Series B financing.

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Avanir Names New Chief

Avanir Pharmaceuticals Inc., an Aliso Viejo-based drugmaker, said today that Rohan Palekar is its new chief executive.

Stem Cell Specialist Cuts Trial, Trims in Irvine

HEALTHCARE: shift in resources to N.J. subsidiary

Caladrius Biosciences Inc. has cut 40 jobs in Irvine and ended a clinical trial of its lead drug candidate.

Sabra Hikes Credit Line, Gets Fitch Ratings Affirmed

Rater Shares Caution On Links to Dallas Hospitals

Irvine-based Sabra Health Care REIT Inc. recently said it will boost its borrowing capacity.

Edwards Pursues Bigger Heart Market

Year of Deals Enhances Position to Gain More Overseas Business

Edwards Lifesciences Corp. wants to move its popular less-invasive replacement heart valves into a wider range of heart disease treatment after further padding its portfolio of mitral heart valves last month with the latest in a string of deals.

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Device Maker Raises $27M

San Clemente-based VertiFlex Inc. has raised $26.8 million out of a proposed $45.7 million in funding, according to a Securities and Exchange Commission filing.

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Strathspey Crown Buys Nevada Firm’s Assets

Newport Beach-based Strathspey Crown Holdings LLC bought the portfolio companies of Incline Village, Nevada-based Novus Via LP on undisclosed terms.

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Strathspey Crown Buys Nevada Firm’s Assets

Newport Beach-based Strathspey Crown Holdings LLC bought the portfolio companies of Incline Village, Nevada-based Novus Via LP on undisclosed terms.

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Mission Hospital CEO to Depart

Kenneth McFarland, chief executive of Mission Hospital, said today that he will leave to pursue other opportunities. McFarland’s departure is effective Feb. 5.

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Device Maker Ellipse in $410M Sale

Aliso Viejo-based medical device maker Ellipse Technologies Inc. will be sold to San Diego-based NuVasive Inc. in a deal worth up to $410 million.

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Care Facility Operator Names President

Irvine-based healthcare facilities operator Silverado named Shamim Wu president and chief operating officer, a new position.

2016 Preview: HEALTHCARE

Hospital affiliations, after being overshadowed by large deals involving Allergan Inc., which was based in Irvine, are poised to come back as a major activity to watch as 2016 begins.

Irvine’s Reputation Draws German Valve Maker

HEALTHCARE: JenaValve joins heart valve cluster here

Irvine’s reputation as a center for makers of transcatheter replacement heart valves has attracted a German company.

2015 YEAR IN REVIEW: Healthcare

We selected Mussallem—chief executive of Irvine-based Edwards Lifesciences Corp. and a dean of the OC device sector—as the person to watch for 2015 for a variety of reasons, including the heart valve maker’s ascension to become the largest publicly traded healthcare company based here.

Griffin-American Purchase Builds in Growth Potential

REIT Completes Buy, Enters Senior Care Sector

Irvine-based Griffin-American Healthcare REIT III Inc. has completed its $1.1 billion buy of privately held Trilogy Health Investors LLC in Louisville, Ky.

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Alphaeon Names Two Board Members

Irvine-based Alphaeon Corp. has named former New Mexico governor Bill Richardson and James Xiaodong Liu, chief executive of Hong Kong-based Sailing Capital Management to its board of directors.

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Alphaeon Names Two Board Members

Irvine-based Alphaeon Corp. has named former New Mexico governor Bill Richardson and James Xiaodong Liu, chief executive of Hong Kong-based Sailing Capital Management to its board of directors.

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Ex-Allergan President Tapped by DC Drug Developer

Chase Pharmaceuticals Corp. said that it has appointed Douglas Ingram, a former president of Allergan Inc., which was based in Irvine, as its chief executive.

Allergan Boss: Role for Irvine After Mega Deal

HEALTHCARE: Key to Pfizer’s plan to carve out ‘innovative’ lines

Irvine appears set to remain a hub for a core part of Pfizer PLC after it acquires Allergan PLC in an expected $155 billion deal that would create the world’s largest drugmaker, with more than $60 billion in sales.

Affiliation Commands Attention

Proposed Deal With Providence on Front Burner at St. Joseph

Jim Watson’s work on a pair of complex affiliations for his employer has caught the eyes of his peers in Orange County’s legal community.

Masimo, China Customer Settle Over Patents, Devices

Companies Also Agree Not to Sue Each Other

Irvine-based Masimo Corp. stopped in its tracks a potential patent battle with one of its original equipment manufacturing customers.

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St. Joseph Health Signs Agreement with Providence

Irvine-based St. Joseph Health said today it signed a definitive agreement with Renton, Wash.-based Providence Health and Services.

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St. Joseph Health Signs Agreement with Providence

Irvine-based St. Joseph Health said today it signed a definitive agreement with Renton, Wash.-based Providence Health and Services.

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