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...

Paramount Fitness of Commerce Acquired By True Fitness

Paramount Fitness of Commerce has been acquired by exercise equipment maker True Fitness of O’Fallon, Mo. True Fitness, which makes treadmills, elliptical machines and exercise bikes, announced the deal Monday. The price was not disclosed.

RadNet to Acquire Diagnostic Imaging Group

Westwood imaging firm RadNet Inc. has acquired Diagnostic Imaging Group for about $56.7 million and 1.5 million shares of RadNet stock. The deal should give RadNet about $70 million in extra revenue annually.

Kythera to Lay Off 117 Workers

Kythera Biopharmaceuticals Inc. is slashing more than half its workforce, letting go 117 workers in the wake of its Oct. 1 acquisition by Dublin-based pharmaceutical company Allergan plc in an all-cash deal valued at roughly $2.1 billion.

Nu Skin’s China woes send Herbalife shares down

Herbalife Ltd. shares dropped sharply Wednesday, dipping to $52.26 at one point for a decrease of 10.3 percent.

West L.A. Brothers Busted in Pharmacy Scheme

Two West L.A. pharmacy owners were arrested Thursday on federal drug trafficking and money laundering charges alleging they used a bogus pharmacy to divert narcotics to the black market.

'Shark Tank' Pitch Fest for Pot Firms Hits Downtown

A “Shark Tank” type pitch fest for marijuana businesses opened at the L.A. Hotel Downtown Tuesday, attracting a number of budding local entrepreneurs.

Did Clinton Tweet Send Local Biotechs Down?

Democratic presidential candidate Hillary Clinton may have to shoulder the blame for the hit taken by local biotech stocks on Monday.

Amgen Buys Dezima and Signs Xencor Research Deal

Amgen Inc. announced Wednesday that it will acquire Dezima Pharma B.V., a Netherlands-based biotech that develops blood disorder treatments.

AHF Submits Signatures for Condom Measure

The AIDS Healthcare Foundation on Monday filed more than a half million signatures needed for a ballot measure on mandatory condom usage in adult films throughout California.

Amgen's Competitor Launches Neupogen Knockoff

Amgen Inc. faces a new type of competition with the launch of Zarxio, the first biosimilar drug approved for sale in the U.S.

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.