Orange County Business Journal

Healthcare Vet Brings Once-Shelved Device to Market

HEALTHCARE: Incontinence prevention product sold online

Longtime OC medical device executive Thomas Berryman is back in business with a new company and device to battle female stress urinary incontinence.

Hospital Operator Cuts Nearly 200 Jobs

Fountain Valley-based MemorialCare Health System will cut 194 jobs as part of its planned closure of the San Clemente location of its Saddleback Memorial Medical Center, according to a state filing.

Insurance Unit Signs Deal With Drug Store Chain

Members Can Get Rx At Walgreens or By Mail

A unit of Minnesota health insurance giant UnitedHealth Group Inc. with an office in Irvine has struck a long-anticipated “preferred partnership” with a major drugstore chain.

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MemorialCare to Cut 194 Jobs in SC

Fountain Valley-based MemorialCare Health System will be cutting 194 jobs as part of its planned closure of the San Clemente location of its Saddleback Memorial Medical Center, according to a state filing.

Two OC Components Makers Join Forces

San Clemente-based rubber products maker IRP Group Holdings recently agreed to combine with Garden Grove-based ProPlas Technologies on undisclosed terms.

Senate Committee Passes Pack of Device Reform Bills

Designed to Speed FDA OK for Certain Treatments

A cause dear to the hearts of medical device makers in Orange County and elsewhere—regulatory reform—is moving along in the U.S. Senate.

He Felt Your Pain

Proove Helps Docs Manage Patients’ Discomfort

Brian Meshkin sought a way to help doctors make better decisions in the specialty of pain management, acting on the desire in 2009 when he created Irvine-based Proove Biosciences Inc.

Device Maker Focal Raises $3.8 Million

Aliso Viejo-based Focal Therapeutics Inc. raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

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Edwards Adds Director

Irvine-based Edwards Lifesciences Corp. appointed Steven Loranger to its board of directors.

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Aliso Viejo Device Maker Gets $3.8M

Aliso Viejo-based Focal Therapeutics Inc. has raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

Life Sciences Logistics Specialist Grows Into New Irvine HQ

HEALTHCARE: Cyroport more than doubles space, eyes 2nd shift

Cryoport Inc.’s recent move to Irvine from Lake Forest is “coming together very nicely” on the heels of a growth spurt, according to its chief executive.

Regulators Grant New Edwards Sapien XT Clearance

Can Now Be Used For A Different Procedure

Irvine-based Edwards Lifesciences Corp.’s Sapien XT replacement transcatheter heart valve gained another approval this month.

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Mission Hospital Names New COO

Mission Hospital said today that Tarek Salaway is its new chief operating officer.

REIT Looks to Resolution of Texas Center Problems

Tenant Default Puts Facilities on Block

Irvine-based healthcare real estate investor and owner Sabra Healthcare REIT Inc. is moving toward the end of a long-running challenge with one of its major tenants.

CHOC Eyes More Collaboration With Counterpart in SD

HEALTHCARE: Pediatric specialists consider move into managing care

Children’s Hospital of Orange County and Rady Children’s Hospital in San Diego are contemplating pursuing a state license that could make them eligible to more closely manage healthcare delivery for nearly 500,000 children in the region.

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MemorialCare Closing SC Site

Fountain Valley-based MemorialCare Health System said today that it will close its Saddleback Memorial Medical Center’s San Clemente campus on May 31.

OC Device Makers Make Deals to Boost Competencies

Buys Over Past Year Buck Cost-Containment Trend

An Orange County exception: Recent large deals in the U.S. medical device industry have followed a trend of portfolio diversification as hospital customers pressure device makers to hold down costs and move away from pricey implants.

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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