Orange County Business Journal

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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.

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.

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.

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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.

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.

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.

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.

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.

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.

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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.

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.

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.

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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.

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Valeant, Ackman Hike Allergan Bid Again

Valeant Pharmaceuticals International Inc. today added more cash to its hostile takeover bid for Irvine-based Allergan Inc.

Numbers Give New View on Allergan Takeover Attempt

HEALTHCARE: Valeant’s sweetened bids look short in expectations game

There was no shortage of numbers punctuating the battle for Allergan Inc. last week, when the sum total pointed to a possible shift in favor of the Irvine-based drug maker’s effort to stave off a hostile takeover bid by Valeant Pharmaceuticals International Inc.

FDA OK for Next Phase of Direct Flow Valve Trial

Results From Europe Show ‘Positive Trend’

A federal approval and newly released clinical trial results have put a spotlight on Direct Flow Medical Inc., a Santa Rosa-based heart valve startup that makes its devices in Lake Forest.

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Valeant, Ackman Hike Allergan Bid Again

Valeant Pharmaceuticals International Inc. today added more cash to its hostile takeover bid for Irvine-based Allergan Inc.

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Ensign Set to Complete CareTrust Spinout

Mission Viejo-based nursing home operator Ensign Group Inc. will complete the spin-off of its real estate holdings into a separate publicly traded company after the close of trading Monday.

Bay Area Device Maker Taps OC Vet

HEALTHCARE: New CEO will establish office in Aliso Viejo

Focal Therapeutics Inc., a medical device company in the Bay Area, has hired an Orange County-based chief executive and plans to establish a presence in Aliso Viejo.

Pyott’s Plan: Keep Calm and Counterpunch

Allergan Boss Works Back Channels to Fend Off Valeant

A team of specialists will continue Allergan Inc.’s battle for the minds and wallets of shareholders this week, when Valeant Pharmaceuticals International Inc. is expected to hike its $47 billion hostile bid for the Irvine-based drug maker.

St. Joseph Health Chief Executive Lauded

Deborah Proctor, chief executive of Irvine-based St. Joseph Health, received the 2014 Woman of the Year award from the Women in Health Administration of Southern California.

Device Maker to Get $1B+ in Settlement

Irvine-based Edwards Lifesciences Corp. will receive more than $1 billion from rival Medtronic Inc. to settle a patent lawsuit.

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Investors: Valeant Must Hike Allergan Bid

Valeant Pharmaceuticals International Inc. should raise its unsolicited offer to buy Irvine-based Allergan Inc. to roughly $53.5 billion to $59.5 billion or $180 to $200 a share, according to an investor survey released today by JP Morgan.

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Proctor Wins Health Administration Group Award

Deborah Proctor, chief executive of Irvine-based St. Joseph Health, received the 2014 “woman of the year” award from the Southern California Women in Health Administration.

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Proctor Wins Health Administration Group Award

Deborah Proctor, chief executive of Irvine-based St. Joseph Health, received the 2014 “woman of the year” award from the Southern California Women in Health Administration.

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Edwards in Line for $1B Settlement From Medtronic

Irvine-based Edwards Lifesciences Corp. will receive more than $1 billion from rival Medtronic Inc. to settle a patent lawsuit.