Allegro Ophthalmics LLC appointed Melvin Sarayba as vice president of clinical affairs, a newly created position.
Sarayba, who previously was vice president of clinical affairs at medical device company ClarVista Medical Inc., will be responsible for the company’s U.S. and international clinical program for its Luminate drug.
He has worked for Alcon Laboratory Inc. and LexSx Laser Inc., among other ophthalmic-focused companies.
Sarayba’s role encompasses some of the duties of the chief medical director, a position previously held by Mohamed Genead, according to a company spokesperson.
The San Juan Capistrano-based biotechnology company’s lead investigational drug treats vitreoretinal diseases by targeting integrin receptors involved in the construction of aberrant blood vessels. The diseases occur when retinal blood vessels become damaged—from old age, diabetes or surgery—and begin to leak fluid or blood, resulting in blurred vision and eventual blindness. The integrin peptide therapy is designed to regress and inhibit blood vessel formation.
Luminate is in several second-phase clinical trials. Allegro has completed or is nearing completion of three second-phase trials—diabetic macular edema, nonproliferative diabetic retinopathy and vitreomacular traction—according to Vicken Karageozian, president and chief medical officer.
Hospice Buy
The Ensign Group Inc. acquired Hospice of the Pines, a provider of end-of-life care in Arizona serving Prescott, Sedona, Cottonwood, Dewey and other communities across Yavapai County. Terms were undisclosed.
Mission Viejo-based Ensign is a holding company that provides healthcare services through its operating subsidiaries, including skilled nursing, rehabilitative care services, home healthcare, hospice care and assisted living companies.
The acquisition was completed through its home healthcare and hospice subsidiary Cornerstone Healthcare Inc.
“Hospice of the Pines is an important addition to our hospice operations,” said Chief Executive Christopher Christensen in a press release, noting that the acquisition continues the growth of Cornerstone operations across Arizona, offering the opportunity to provide continuum of care with existing skilled nursing and assisted living operations in Prescott.
Ensign has a $901 million market cap. The company reported revenue of $428 million for the quarter ended Sept. 30, up about 22% year-over year, according to Securities and Commission Exchange filings. Its other business segment—transitional, skilled and assisted living services—makes up about 90% of revenue.
Ensign operates 209 skilled nursing, assisted and independent living facilities, 38 home health, hospice and home care agencies, 14 urgent-care centers and other operations.
Loss Grows
Alliance HealthCare Services Inc. reported a $2.1 million loss in its fourth quarter, a jump from $252,000 loss year-over-year, according to SEC filings. Chief Executive Tom Tomlinson attributed the lowered results to “physician capacity challenges in our interventional business and some same-store volume softness across MRI and stereotactic radiosurgery.”
The Newport Beach-based provider of outsourced healthcare services to hospitals and providers has a $107.4 million market cap. It reported revenue of $129 million for the fourth quarter and $505.5 million for the year, up 4.1% and 6.9%, respectively, year-over-year. It also operates freestanding outpatient radiology, oncology, and interventional services clinics and ambulatory surgical centers.
Allergan Growth
Allergan PLC plans to invest €42 million in its Irish manufacturing operations in in Clonshaugh and Westport. The investment in Westport will add additional capacity to its eye-care manufacturing operations and the expansion of its ocular implant manufacturing facility. Eye care is part of the pharmaceutical company’s Irvine-based U.S. Specialized Therapeutic segment.
Allergan is chartered in Dublin, Ireland, and maintains U.S. headquarters in Parsippany, N.J.
Bits & Pieces
CalOptima in Orange named anesthesiologist Paul Yost board chairperson, effective March 31. He replaces Mark Refowitz, who’s leaving the board when he retires as director of the Orange County Health Care Agency. … Kathleen Sullivan and Thomas Vovan of Laguna Hills-based Saddleback Memorial Medical Center were named chief and vice chief of staff, respectively. They will continue to practice medicine. The chief of staff position is a two-year term. … The Scientific Registry of Transplant Recipients awarded St. Joseph Hospital Orange’s kidney transplant center its highest rating, one of four in California to earn the honor.
