HEALTHCARE

Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...

Afable Moves From St. Joseph to Startup

INNOVATION: OC50 vet CEO of Concierge KeyRichard Afable didn’t stay retired for long. The prominent Orange County healthcare industry veteran who stepped down as chief executive of St. Joseph Hoag Health in Irvine in December, recently took the chief executive role at Newport Beach-based Concierge Key Health LLC, a 1-year-old startup firm that created a mobile app for on-demand access to medical specialists.

Allergan to Buy NB’s Bonti

Allergan PLC announced it will buy Newport Beach-based Bonti Inc. for $195 million.

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Avid Beats on Lower Revenue

Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) reported fiscal first-quarter revenue fell 54% to $12.6 million from the same period a year ago but the figure topped analyst estimates and the company reaffirmed full year revenue guidance in a range of $51 million to $55 million.

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Quality Systems Now NextGen

Quality Systems Inc. (Nasdaq: QSII), an Irvine-based medical and dental practice management service provider, announced today that it has changed its corporate name to NextGen Healthcare Inc., effective immediately.

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Smile Brands Plans M&A Growth

Smile Brands Inc., an Irvine-based dental business support services provider, named Kevin Rogus as vice president of mergers & acquisitions.

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Concierge Key Names Afable New CEO

Newport Beach-based Concierge Key Health, which has created a mobile app for on-demand access to medical specialists, named Richard Afable as president and chief executive,

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Rox Names CEO

San Clemente-based Rox Medical Inc. appointed Mike MacKinnon as chief executive. He came from Philips N.A. where he was head of sales for image guided technologies.

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Biolase Gets New CEO

Irvine-based Biolase Inc. (Nasdaq: BIOL) on Aug. 8 named Todd Norbe president and chief executive.

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Carrick Capital Adds Stake in Health Services Firm

Newport Beach’s Carrick Capital Partners LLC bought a majority stake in Discovery Health Partners, a payments company in the health industry. Terms weren’t disclosed.

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3 OC Hospitals in DOJ Settlement

Ontario-based Prime Healthcare Services Inc. and its chief executive have agreed to pay $65 million to settle federal allegations of Medicare overbilling at 14 California Hospitals, including four in Orange County, the U.S. Attorney’s Office said Aug. 3.

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Masimo Strong Q2, Raises Guidance

Masimo Corp. (Nasdaq: MASI) reported revenue of $211.6 million, including royalty, with product revenue for the second quarter totaling $202 million, up 12.4% compared to the same quarter a year ago.

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Quality Systems Revenue Up

Irvine-based Quality Systems Inc. (Nasdaq: QSII) reported $133.2 million in revenue for its latest quarterly results, a 1.7% year-over-year increase.

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KPC Names COO

KPC Health System named Scott Rifkin as chief operating officer of KPC Healthcare.

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Tech and Tax Lift CorVel’s Insurance Business

Shares of Irvine’s CorVel Corp. surged 4.8% to $57.35 in after hours trading Tuesday after the insurance managed service provider reported first-quarter earnings rose 35% to 62 cents a share. Shares gave back those overnight gains in midday trading Wednesday.

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Evolus Raises $56M

Evolus Inc. (Nasdaq: EOLS) priced an additional public offering of 4 million shares of common stock at $20 each. The offering consists of 3 million shares offered by the medical aesthetics company and a million shares offered by a selling stockholder.

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Avid Names CFO

Avid Bioservices Inc. (Nasdaq: CDMO) appointed Daniel Hart chief financial officer.

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