HEALTHCARE

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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Urovant Seeks $150M IPO

Irvine-based Urovant Sciences Inc. is seeking $150 million via the public markets to extend clinical trials of therapies to treat urologic conditions.

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Pyott Foundation Gives to Easterseals

The David and Molly Pyott Foundation gave a $1.7 million gift to Easterseals Southern California (ESSC).

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Evolus Adds CMO

Evolus Inc. named Michael Jafar chief marketing officer, a new position, and its second recent hire from the executive ranks of Allergan plc.

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Irvine Biotech Gets $40M

PeproMene Bio Inc. raised $40.2 million from 17 investors in a Series B funding round, a June 11 Securities and Exchange Commission filing said.

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ReShape Raises $1.5M

San Clemente-based ReShape Lifesciences Inc. (Nasdaq: RSLS) raised nearly $1.5 million from several institutional investors for the purchase of 374,572 shares of its common stock at $3.92 per share, according to filings with the Securities and Exchange Commission.

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UCI Health CEO Named

Richard Gannotta was named chief executive of UCI Health, the clinical, medical education and research arm of the University of California-Irvine.

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Billionaire Icahn Takes Allergan Stake

Following a letter from activist investors Appaloosa LP in Miami, Fla., and New York-based Senator Investment Group LP to Allergan PLC’s board of directors that recommends changes—including separating the chief executive and chairman roles—billionaire Carl Icahn also threw his hat in the game, taking an undisclosed position in Allergan, according to Bloomberg.

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ChromaDex Appoints CMO

ChromaDex Corp. (Nasdaq: CDXC) named Lisa Bratkovich chief marketing officer, effective June 4.

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