Recent and archived news stories on: biotechnology, pharmaceutical companies, health insurance companies, hospitals, medical devices, medical groups

Homeless Recuperative-Care Facility to Open in Pico-Union Following $1M Renovation

The National Health Foundation is set to transform a century-old sanitarium into a 62-bed recuperative-care facility in Pico-Union for homeless residents discharged from local hospitals.

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Herbalife Announces $600 Million Stock Repurchase

Herbalife Ltd., a global health nutrition company based downtown, on April 18 announced a self-tender offer to buy back up to $600 million worth of shares.

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82 Labs Draws $10M in Investor Funds for Hangover Remedy

82 Labs Inc., a health care startup based in Koreatown with a hangover remedy drink, has closed a stock offering for $10 million, according to a securities filing.

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Avenda Health Receives $3.3 Million Investment

Avenda Health Inc., a biomedical device company based in Santa Monica, has closed a funding round of $3.3 million, according to a securities filing released April 11.

L.A. Bioscience Gets $1 Billion in Federal Research Funds, Study Finds

Biomedical researchers across Los Angeles County received $1 billion in federal research funding last year – a $105 million increase over 2016, according to a report released by Biocom L.A.

Puma Biotech Licenses Cancer Drug for Latin American Market

Puma Biotechnology Inc., based in Westwood, has struck an up-to-$35-million deal with Pint Pharma International to commercialize its signature cancer drug in Latin America.

Apollo Medical Hikes Earnings 17 Percent in 2017

Apollo Medical Holdings Inc., a health care management firm based in Glendale, had a 17-percent boost in revenue last year after its year-long merger with Network Medical Management Inc., the company announced April 3.

Nanotech Energy Raises More Than $3M in Funding Round

Nanotech Energy Inc., a West Los Angeles company that produces microscopic supercapacitors for smartphones and biomedical devices, on April 3 raised more than $3 million in investment funding.

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Former Kite Execs Team With Pfizer to Create Biotech Co. to Treat Cancer

Two UCLA biotech executives, whose Kite Pharma Inc. sold last year for $12 billion, have launched a new venture with Pfizer Inc. to develop a lower-cost immune cell therapy to treat cancer, the company announced April 3.

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Providence Tarzana’s $542M Expansion Approved by L.A. City Council

Providence Tarzana Medical Center’s $542 million expansion, dubbed the “Reimagined Project,” has been greenlit by the Los Angeles City Council, the hospital announced.

City of Hope Expands Oncology Radiation Services Across SoCal

City of Hope, the research and treatment center for cancer and diabetes, has added nine radiation oncology sites to its growing clinical network across Southern California, the hospital announced April 2.

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City of Hope to Open First Orange County Facility

Duarte medical care provider City of Hope will open a $200 million cancer center at the Great Park Neighborhoods in Irvine.

$20M Gift to UCLA for State-of-the-Art Medical Simulation Center

A $20 million gift to UCLA will help construct a high-tech medical simulation center to train future doctors, the university announced March 28.

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Soon-Shiong’s NantOmics to Lay Off 52 Workers in Maryland

NantOmics LLC, a Culver City-based biotechnology company founded by Los Angeles billionaire Patrick Soon-Shiong, will slash 52 jobs at its Maryland office.

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Nanthealth Inc. Reports $175-Million Loss

Nanthealth Inc. of Culver City, part of a health care conglomerate owned by Los Angeles billionaire Patrick Soon-Shiong, on March 14 reported a net loss last year of $175 million, while revenue grew by 8 percent.

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