Los Angeles Business Journal

LA HEALTHCARE

Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...

Exercise Studio Looks for Lift

FITNESS: Pop Physique mulls selling stake to bulk up chain.Boutique exercise chain Pop Physique weighs private equity investment to pump up expansion plans.

By Subrina Hudson August 31, 2015 midnight   $$ Share

Cedars Acquires Marina del Rey Hospital

Cedars-Sinai Health System announced Tuesday that it acquired the 145-bed Marina del Rey Hospital and a neighboring medical office building. The terms of the deal were not disclosed, but county records show the hospital property traded for $25.3 million in mid-August.

Medbox Founder Retires Shares, Gives Some to Charity

Medbox Inc. Founder P. Vincent Mehdizadeh is letting 13 million shares of his company go up in smoke, raising the value of those held by others.

Amgen Seeks Approval for Drug for Dialysis Patients

Amgen Inc. has applied to the Food and Drug Administration for permission to sell etelcalcetide, a treatment for an ailment found in patients on dialysis, the company announced Tuesday.

Clinics, Ambulance Firm Convicted of Medicare Fraud

Owners and employees of several Los Angeles-area businesses were convicted this week of operating Medicare fraud schemes that took in about $7 million in false billing.

Amgen Agrees to $71 Million Settlement

Amgen Inc. has agreed to a $71 million settlement over claims that the pharmaceutical giant marketed two of its drugs for uses not approved by the Food and Drug Administration.

Response Genetics Files Bankruptcy, Finds Buyer

A month after being delisted from the Nasdaq Capital Market, diagnostic test maker Response Genetics Inc. announced Monday it declared Chapter 11 bankruptcy and would sell its assets to cancer diagnostics company Cancer Genetics Inc. for $14 million.

IPC Healthcare Purchased for $1.6 Billion

IPC Healthcare has agreed to be acquired by Team Health Holdings Inc. for $1.6 billion in cash, the companies announced Tuesday.

Monday Rundown: Cathay Completes Purchase of New York Lender, Molina Healthcare Makes Deal with Integral Health Plan

Chinatown’s Cathay General Bancorp has completed its purchase of Asia Bancshares Inc. in Flushing, N.Y., expanding the reach of Cathay, L.A.’s oldest Chinese-American bank, in the Big Apple, the bank announced Monday.

Cedars to Anchor Playa Vista’s Runway

Cedars-Sinai will be checking into three floors of medical office space above the new Runway retail center in Playa Vista.

Soon-Shiong’s NantKwest Goes Public in $207 Million Offering

Billionaire Patrick Soon-Shiong’s clinical-stage immunotherapy firm NantKwest Inc. debuted at $25 a share in its first day of trading on the Nasdaq Tuesday, raising more than $207 million with the sale of 8.3 million shares.

Kythera Wins Approval in Canada for Double-Chin Drug

Kythera Biopharmaceuticals, Inc. has received regulatory approval in Canada to sell its drug that dissolves chin fat, the company announced Monday.

Second Sight Looks to Expand Patient Pool

Visual prosthetic-maker Second Sight Medical Products Inc. announced Wednesday it has successfully implanted and activated its vision-restoring system for the first time in a patient with age-related macular degeneration, part of a study that could lead to a much wider pool of potential customers for the firm’s groundbreaking product.

CytRx Shares Plummet after Pricing Offering

Shares of Brentwood biotech firm CytRx Corp. tumbled Tuesday after the company announced it would price a forthcoming public offering of 9.1 million shares of common stock at $2.75 a share, well below where shares have been trading for most of the year.

Amgen’s Gains EU Approval for Anti-Cholesterol Drug

The European Commission has authorized Amgen Inc. to sell its anti-cholesterol drug Repatha, the company announced Tuesday.

UCLA Medical Center Ranks Among Nation’s Top Hospitals

Several Los Angeles hospitals scored high marks in U.S. News & World Report’s Best Hospitals rankings released Tuesday morning.