Stories by Howard
Bioscience incubator expands to Orange County, rebrands
The operator of a bioscience incubator in Palms has taken on a new name, ScaleHealth, and has expanded into Orange County through a partnership with the La Palma-based Innovation Institute.
Hospital, companies look to treatments
Patrick Soon-Shiong, the billionaire biomedical entrepreneur and owner of the Los Angeles Times, has moved on two fronts to fight the Covid-19 pandemic in recent weeks.
Psoriasis treatment ready for large-scale testing
Dermavant Sciences Ltd. of Long Beach has completed patient enrollment for a Phase 3 trial of a therapeutic cream to treat the skin disease psoriasis, the company said.
L.A. County’s unemployment rate surged to 6.3% in March as the area felt the initial impact of the Covid-19 pandemic.
Molina Healthcare Inc. has called off its deal to buy Chicago Medicaid managed care insurer NextLevel Health Partners Inc. for $50 million.
Companies experience a surge in demand
Local telehealth companies, experiencing a big boost in both hospital clients and patients, are rapidly adjusting their business models to seize the opportunity as the impact of Covid-19.
Analyst upgrade lifts insurer
While markets have swooned in recent weeks, shares of Long Beach insurer Molina Healthcare Inc. surged to an all-time high April 8 after an analyst raised its rating two notches to the equivalent of a “buy” and news that Sen. Bernie Sanders, I-Vt., was ending his presidential bid.
Ontario-based Prime Healthcare Inc. has received approval to purchase St. Francis Medical Center in Lynwood from bankrupt Verity Health System for more than $350 million.
A sharp drop in passenger traffic has prompted steep reductions in the number of flights and the closure of terminals at LAX.
L.A. consumer confidence plunged in the first quarter to a record low as the impact of Covid-19 began to be felt.
Seeks to reopen Westlake hospital
Patrick Soon-Shiong has submitted an offer to buy the recently shuttered St. Vincent Medical Center in Westlake for $135 million.
LA firms seeking ways to fight virus
As the coronavirus pandemic rages, many local biomedical and health care companies are rapidly turning their businesses toward fighting Covid-19.
Crews pour first concrete for car rental facility
Construction crews in March completed the first concrete pour for the foundation of the $1 billion consolidated car rental facility east of LAX.
Work for LAX, Metro is considered essential
While work has shut down across much of the region as shelter-in-place restrictions have taken hold, construction on several of the area’s largest infrastructure projects has mostly continued apace.
Drop is expected to worsen in March and April
Passenger traffic at Los Angeles International Airport fell nearly 4% in February with international traffic plunging almost 10% as the first impact of the coronavirus pandemic was felt.
Oskouian likes her chances when it comes to growing Ship & Shore
Ship & Shore has 90 full-time employees and pulls in between $20 million and $25 million a year designing and making a range of air pollution control devices.
Hunt will continue for replacement
Michael Burke, who had been expected to step down as chief executive at Century City-based engineering company AECOM at the end of March, will remain at the helm of the company for the foreseeable future.
L.A. County's unemployment rate held steady at 4.3% in February, the last reporting period before the arrival of Covid-19.
A pair of San Gabriel Valley biomed companies have announced progress in technologies that can be used to fight Covid-19.
Hospitals will share resources, research
Cedars-Sinai Health System and Pasadena Hospital, also known as Huntington Memorial Hospital, have agreed to share medical and research resources.
Cal State LA facility will anchor bioscience corridor
Local bioscience entrepreneur Alan Horsager has been named the first director for LA BioSpace, the soon-to-open bioscience incubator at Cal State Los Angeles.
Lincare purchase increases pharmacy footprint
Cerritos-based KabaFusion has expanded by acquiring the home infusion operations of Lincare Holdings Inc. of Clearwater, Fla.
Company offers cash for aircraft or lease extensions
Century City-based Air Lease Corp. has been making course changes to navigate airline industry headwinds from the coronavirus.
Company will provide emergency services
Tetra Tech Inc. has landed a $125 million contract with the U.S. Postal Service to supply nationwide emergency preparedness and response support, and environmental services.
L.A. County’s unemployment rate in January remained at 4.3% despite heavy seasonal job losses, according to state figures released March 13.
Southwest Airlines Co. on March 12 announced it will add two weekday flights at Long Beach Airport this summer, one to Oakland and the other to San Jose.
Sawtelle diagnostic imaging company RadNet Inc. announced March 11 it has agreed to buy Cambridge, Mass.-based radiology artificial intelligence company DeepHealth Inc. in a stock deal.
Metro delays Crenshaw-LAX Line again for more testing
The long wait for the first rail line to connect to Los Angeles International Airport and to the new football stadium complex in Inglewood is going to be even longer.
Company skips two key investor conferences
Speculation is mounting that Century City-based engineering and infrastructure giant AECOM may be acquired by rival WSP Global Inc.
Segue Technologies deal extends buying binge
Pasadena-based engineering and consulting firm Tetra Tech Inc. is transforming itself into a technical services firm for federal government agencies.
Additional work boosts contract for Swinerton
Swinerton Inc.’s design-build contract for the second phase of terminal improvements at Long Beach Airport just got a whole lot bigger.
Firm will expand telemedicine services
Cloudbreak Health, an El Segundo-based interpreter service for the medical industry, has received $10 million in funding from Columbia Partners Private Capital of Bethesda, Md.
Labs will help fullfill $100M contract
Parsons Corp., the multibillion-dollar engineering and infrastructure firm, is opening a new facility in L.A. County to pursue the rapidly expanding space satellite business.
Shares of Pasadena-based Puma Biotechnology Inc. fell after the company revealed that sales of its breast cancer treatment drug, Nerlynx, declined during the fourth quarter.
Traffic at area airports last year grew at slowest rate since the recession
A record 103 million passengers went through the gates at the four commercial airports serving Los Angeles County last year, but that was up only 1.4% from 2018, marking the slowest growth rate since the Great Recession.
Company will provide flights and scheduling
Santa Monica general aviation airline Surf Air Inc. announced it has acquired San Francisco-based online aviation marketplace BlackBird Air Inc.
Institute acquires surgery center in Marina del Rey
Hoag Memorial Hospital Presbyterian, one of Orange County’s largest hospital and health care networks, is entering the Los Angeles County market.
Company anticipates disruption in operations for quarter, year
Count downtown-based nutrition supplement company Herbalife Nutrition Ltd. as another company feeling the impact of the rapid spread of the Covid-19 coronavirus throughout China.
Nestlé service will boost company’s supplement
The world’s largest food and beverage company has agreed to flex more of its marketing muscle for a product from Westwood-based nutrition company ChromaDex Inc.
Los Angeles County’s economy will continue to see modest growth in 2020, according to a forecast from the Los Angeles County Economic Development Corp.
The FDA must decide within six months whether to approve the drug, known as KTE-X19
Air commuter service ready to launch routes between La Verne, Hawthorne and Camarillo
After months of delays, L.A.’s first air shuttle service for local commuters received DOT approval Feb. 19.
Deal with Aimmune could bring up to $400 million before royalties
Monrovia-based biopharmaceutical company Xencor Inc. announced it has granted a license to Bay Area-based Aimmune Therapeutics Inc.
Managed care insurer projects $17 billion in revenue for 2020
With the release of fourth-quarter and full-year 2019 earnings, Molina issued a forecast of premium revenue growth for this year of 7.4% to about $17.4 billion.
Firm benefits from stable federal budget process
Sometimes one of the biggest things executives pray for is a lack of drama in their businesses. That's what Tetra Tech is experiencing now with the federal government.
Biotechnology company stays quiet amid speculation about run-up
After a year of lackluster and disappointing performance, shares of Westwood-based biopharmaceutical company Puma Biotechnology Inc. mysteriously shot up 81% Feb. 4 and 5 on some of its heaviest trading volume in years.
Firm plans NY battery effort
Century City alternative asset management firm Ares Management Corp. has agreed to partner with Atlanta-based Dimension Renewable Energy to further develop large-scale battery energy storage projects in New York state.
Companies selected to bid on Sepulveda Pass work
Five teams have qualified to bid for the contract to build a rail line through the 405 Freeway’s Sepulveda Pass, officials with the Los Angeles County Metropolitan Transportation Authority announced late last month.
Arrowhead Pharmaceuticals Inc. announced Feb. 5 that it had achieved “promising” interim results from early clinical trials for two of its drugs
The construction sector in Los Angeles County will add nearly 9,500 jobs over the next five years for a growth rate of 6%, according to a new forecast.