Person to Watch
Michael Mussallem
We selected Mussallem—chief executive of Irvine-based Edwards Lifesciences Corp. and a dean of the OC device sector—as the person to watch for 2015 for a variety of reasons, including the heart valve maker’s ascension to become the largest publicly traded healthcare company based here.
Edwards’ shares are up 28% since the start of 2015, with a recent market value of $17.7 billion.
Mussallem also had Edwards working in the acquisition market over this year—the company struck a deal to buy Irvine-based CardiAQ Valve Technologies Inc. for up to $400 million.
He told the Business Journal that buying CardiAQ would “advance our development of patients with mitral valve disease who aren’t well-served today, much like we experienced with prior transactions.”
Mussallem was referring to a deal Edwards struck 12 years ago for New Jersey startup Percutaneous Valve Technologies Inc. that evolved into the Edwards Sapien replacement aortic heart valve line.
Company to Watch
Kaiser Permanente
The Oakland-based health system, which operates Orange County’s largest HMO by membership; has hospitals in Anaheim and Irvine; and has numerous medical offices, received our nod for company to watch based on the appointment of Mark Costa as its new executive director, plus our expectations that Kaiser would continue in its “pacesetter” role as a pioneer of coordinating and integrating healthcare as other hospitals aligned into similar forms.
Costa has made his mark in the wider community. California State University-Fullerton named him to its philanthropic foundation’s board of governors in June.
Kaiser’s year was rather quiet. Its activity included starting a pilot project with Anaheim Fire & Rescue, as well as businesses and government agencies, to provide emergency medical services. Kaiser-certified nurse practitioners, along with Anaheim Fire & Rescue paramedics, will provide emergency services for on-site treatment of low-level, nonurgent medical requests.
