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...

IPC Makes Texas Acquisition

IPC The Hospitalist Co. Inc. is acquiring Total Inpatient Services in Sugar Land, Texas.

Earnings: J2 Global, Marcus & Millichap, Apollo Medical

J2 Global Inc. on Thursday reported a 26 percent rise in first-quarter net income, as the Hollywood provider of media services saw increasing strength in its cloud data backup services business. Marcus & Millichap Inc. reported soaring revenue the quarter, citing the continued recovery of the commercial real estate market. Apollo Medical Holdings Inc. reported a narrower loss and higher revenue in its last fiscal year, crediting a string of recent acquisitions and expansions.

Earnings: Health Net, Live Nation, Activision, PennyMac

Shares jumped Wednesday for Health Net, Live Nation Entertainment, and Activision Blizzard after the companies reported better-than-expected first quarter results. PennyMac Mortgage Investment Trust struggled, but affiliate PennyMac Financial Services met analyst expectations.

Earnings: Superior Industries, Crown Media, Molina Healthcare

Superior Industries International Inc. matched analysts’ net income estimates for the first quarter but just missed on revenue. Crown Media Holdings Inc. reported a drop in net income for the first quarter despite rising ratings and advertising rates. Molina Healthcare reported a profit for the quarter when analyst were expecting a loss.

Kuwait Fund Invests in NantHealth

NantHealth, billionaire Patrick Soon-Shiong’s health care technology company, on Tuesday announced it is getting an investment of $100 million from Kuwait’s sovereign wealth fund.

Herbalife's Adjusted Net Beats Expectations

Herbalife Ltd. reported a 37 percent drop in first-quarter profit Monday and said it would suspend its quarterly dividend so it could use the cash to repurchase shares. Adjusted net income and sales were better than expected.

Earnings Roundup: Avery, Cheesecake, IPC, Teledyne, On Assignment

A slimmer Avery Dennison Corp. on Wednesday announced fiscal first quarter results that were in line with Wall Street expectations for profit. Cheesecake Factory Inc. said Wednesday that same-store sales rose at most of its outlets during the fiscal first quarter but poor weather cut into profits. IPC disappoints. Defense cuts hit Teledyne. On Assignment meets forecasts.

Amgen Misses Expectations

Amgen Inc. on Tuesday reported a lower-than-expected first quarter profit, but said it plans to submit its experimental cholesterol drug for approval by the end of the year.

Amgen Drug Wins Fast-Track Status

The U.S. Food and Drug Administration has granted fast-track designation for ivabradine, a heart drug licensed for sale by Amgen Inc. in Thousand Oaks.

Illinois Officials Investigating Herbalife

The Illinois Attorney General’s Office on Thursday said that it is investigating allegations that Herbalife is running a pyramid scheme.

BlackBerry to Collaborate with NantHealth

Smartphone maker BlackBerry announced Tuesday that it has invested in Dr. Patrick Soon-Shiong’s NantHealth with the hope that its smartphones can be married to the West L.A. billionaire’s next-generation medical information technology.

Herbalife Drops on Report of Criminal Probes

A report that both the U.S. Department of Justice and the FBI are investigating Herbalife sent shares of the nutritional supplement company sliding 14 percent on Friday.

Providence Saint Joseph Completes MRI Test

Providence Saint Joseph Medical Center announced it is the first hospital in the nation to conduct an MRI scan of a patient with a new MRI-compatible heart pacemaker.

SEC Halts Trading of GrowLife Shares

Trading in shares of GrowLife Inc. was halted Thursday for two weeks after the Securities and Exchange Commission questioned some of the company’s stock transactions.

Puma Falls on Cancer Drug Data

Shares of Puma Biotechnology Inc. dropped 18 percent on Monday after the Westwood drug developer reported clinical trial results for its experimental breast cancer drug that were less dramatic than investors expected.