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...

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.

UCLA Health Data Breach Disclosed

UCLA Health announced today that hackers had accessed parts of its computer network containing personal and medical information. The hack may have occurred as early as last September. The health system said it had not found evidence that any individual’s information had been accessed.

BlueMountain Tapped to Back Daughters of Charity

After a long, contentious process, the Daughters of Charity Health System has announced a deal with private investment firm BlueMountain Capital Management to recapitalize its six ailing hospitals, including two in Los Angeles County, with more than $250 million.

Soon-Shiong’s NantHealth Buys Technology Firm

Billionaire Patrick Soon-Shiong’s health care IT firm NantHealth announced Thursday it has acquired Harris Healthcare Solutions. Terms of the deal were not disclosed, though Soon-Shiong said it is his firm’s largest acquisition to date.

Soon-Shiong’s Nant Joins $100 Million Cancer Therapy Venture

A subsidiary of billionaire Patrick Soon-Shiong’s Culver City health care company NantWorks and a San Diego pharmaceutical company are jointly investing $100 million to develop cancer therapies.

Medbox CEO Steps Down After Year at Helm

Marijuana dispensing firm Medbox Inc. announced Monday that Chief Executive Guy Marsala is leaving the company and its board of directors. He will be replaced by Chief Operating Officer Jeff Goh, who has been promoted to president and interim chief executive.