Mission Viejo-based nursing home operator Ensign Group Inc. is making moves to the south.
It said this month that it wrapped up its previously announced acquisition of San Diego-based Shea Family Care at an undisclosed price.
Acquiring Shea brings Ensign 643 skilled nursing beds and 68 assisted-living beds across nine operations, a Medi-Cal and Medicare certified home health agency, and a private-pay home care business, according to Ensign.
All of the operations are in San Diego County.
Separately, Ensign bought Medicare- and Medi-Cal- certified agency Guardian Angel Hospice in San Diego.
“This addition of hospice services in the San Diego market allows us to serve the full continuum of post-acute care needs of San Diegans, whether that care takes place in our facilities or their homes,” Ensign Chief Executive Christopher Christensen said in a news release.
Ensign noted that the Guardian Angel facilities will operate under Cornerstone Healthcare Inc., its home health and hospice unit, and will be renamed to reflect San Diego’s maritime history: Seaport Home Health, Seaport Hospice and Safe Harbor Home Care.
Ensign said it bought and retained the real estate of two of the nine Shea facilities and assumed long-term leases on the remaining properties.
Edwards Lifesciences Praised
Edwards Lifesciences Corp., the Irvine-based heart valve maker, was the subject of a complimentary report by Chicago-based Zacks Investment Service.
Zacks noted that Edwards, which had a market value of $13.9 billion in early December, had grabbed attention since the beginning of the year, including from three product approvals. The report also mentioned positive long-term data from Edwards’ Partner trial for its Sapien less-invasive heart valve, noting that five years after a Sapien implant, a patient would experience improved cardiac function and a lower rate of repeat hospitalizations.
“We believe that the huge untapped potential in emerging markets is likely to act as a positive catalyst for Edwards,” Zacks said.
It pointed to a 24.1% increase in Japanese sales during the third quarter.
The investment service, later in the report, said that it was “wary about the expected increase in competition in the transcatheter heart valve market as Edwards’ competitors continue to introduce similar products in the U.S. and Europe.”
Alphaeon Closes Clarion Buy
Irvine-based Alphaeon Corp. has closed its $55 million buy of Clarion Medical Technologies Inc., an aesthetic medicine company in Canada.
Alphaeon originally announced the buy in September.
Clarion is based in Cambridge, Ontario, and offers products and services to hospitals, aesthetic clinics, and private medical practices. Injectable dermal fillers, lasers, diagnostic equipment and skincare products are part of its arsenal. The company has more than 100 workers and more than 40 product licenses.
Alphaeon is a subsidiary of Newport Beach-based Strathspey Crown Holdings LLC.
InstaMed Raises $17M
InstaMed Inc., a healthcare technology company with offices in Newport Beach and Philadelphia, recently said it raised $17 million in a private placement.
The company said that was $2 million more than sought.
InstaMed processes payments for hospitals, providers, insurance companies and patients.
Investors include Mount Laurel, N.J.-based NJTC Venture Fund and Bala Cynwyd, Pa.-based Osage Partners.
It said it would use the money to grow its network and increase its workforce from 150 to 200.
Bits & Pieces
Hoag Affiliated Physicians in Newport Beach joined the provider network of Long Beach-based Scan Health Plan, which serves Medicare Advantage beneficiaries. Scan members will gain access to an additional 40 primary care doctors in Aliso Viejo, Huntington Beach, Irvine and Newport Beach, and access to the larger Irvine-based St. Joseph Hoag Health integrated healthcare network. … Separately, Scan and the UCLA Multicampus
Program in Geriatric Medicine and Gerontology honored Irvine-based Monarch HealthCare for its accomplishments in multiple chronic disease management and end-of-life care.
