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Masimo Gets European Approval of Portable Oximeter

Masimo Corp. ended June on a regulatory roll.

The Irvine-based maker of patient-monitoring equipment recently received European Union approval for its new MightySat Rx fingertip pulse oximeter.

Masimo said the wireless device will now be commercially available for clinical use in countries that accept CE marks, the European equivalent of Food and Drug Administration approval. It includes Masimo’s SET Measure-Through Motion and Low Perfusion pulse oximetry technology.

The device is used to spot-check oxygen levels and pulse rate for adult and pediatric patients. It can replace stationary models and thus allow doctors to continuously monitor their patients.

Masimo said there will also be a Bluetooth-enabled version. Data from the oximeter can be shared via standard comma-separated values files, as well as transferred to the AAPL health app produced by Cupertino-based Apple Inc.

“Many clinicians around the world rely on pulse oximetry as the fifth vital sign,” said Masimo Chief Executive Joe Kiani in a news release.

MightySat Rx “represents a significant milestone. To deliver Masimo SET performance in this low-power form factor took some engineering, given the precision of our technology and SET’s computationally intensive algorithm,” Kiani said.

Kiani characterized the MightySat Rx effort as “worth it, as we expect this technology will empower clinicians, and they will no longer have to compromise performance for mobility.”

Sabra Raises Money, Pays Debt

Irvine-based Sabra Health Care REIT Inc. raised about $149 million in a previously announced underwritten public offering of its stock at the end of June.

It owns healthcare real estate, including nursing homes and medical office buildings.

The company said in a news release it will use proceeds from the offerings to repay borrowings outstanding on its revolving credit line. It added that any remaining proceeds will be used to fund possible future deals or for general corporate purposes.

Wells Fargo Securities and J.P. Morgan were the offering’s joint book running managers.

Peregrine Gets European Patent

Tustin-based Peregrine Pharmaceuticals Inc. said the European Patent Office has granted it a patent for bavituximab, its lead drug candidate.

Peregrine develops cancer drugs. The company said the patent covers how bavituximab is made and its use in treating cancer, including in combination with radiation or chemotherapy drugs, such as docetaxel.

Shelley Fussey, the company’s vice president of intellectual property, called the new patent “an important addition to our intellectual property portfolio, which now numbers more than 140 worldwide issued patents and pending applications for our bavituximab oncology portfolio.”

HB Medical Buildings Sold

Newport Beach-based Accretive Realty Advisors Inc. has acquired two medical office buildings in Huntington Beach for $7.78 million, or about $160 per square foot.

The buildings are at 17752 and 17762 Beach Boulevard and total 49,000 square feet. They were built in 1974 on 1.8 acres and are at the entrance to Huntington Beach Hospital’s campus. Tenants include a surgery center and a recovery center.

Accretive bought the buildings from Ko’s HB Medical Building Inc., which was represented by Tom Nguyen of NAI Capital’s Irvine office in the deal.

CombiMatrix Hiring Update

Irvine-based CombiMatrix Corp. said recently that it hired seven sales representatives last month and plans to add four more in the current quarter.

CombiMatrix is a molecular diagnostic company that specializes in DNA-based services for prenatal, postnatal and predonor embryo genetic testing.

The “decision to move up the timing of new sales force hires was based on both the growing demand we’ve seen in the territories we’ve invested in and the sustained growth in our more established territories,” Chief Executive Mark McDonough said.

CombiMatrix, which currently has 64 employees, said it’s adding other professionals to its revenue-generating departments, such as billing and reimbursement, genetic counseling, and its laboratory.

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