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...

Medbox Reaches Settlement Over Restated Financials

Cannabis industry consulting firm Medbox Inc. announced Thursday that it has reached a settlement regarding lawsuits against the company and several of its insiders related to problems with the West Hollywood firm’s financial reporting over the past few years.

Cedars-Sinai to Launch Health Care Accelerator

Cedars-Sinai Medical Center will launch an accelerator program in conjunction with Techstars that’s focused on bringing innovative health care entrepreneurs to Los Angeles.

Kite Pharma Signs New License with NIH

Santa Monica cancer drug developer Kite Pharma Inc. announced it had entered into another exclusive worldwide license with the National Institutes of Health for immuno-oncology drug candidates. This latest license covers treatments targeting tumors associated with lung, gastric, pancreatic and breast cancer, among others.

NantWorks Acquires Precision Biologics

Billionaire Patrick Soon-Shiong’s health care technology holding company NantWorks has paid $50 million for a majority stake in clinical-stage biopharmaceutical firm Precision Biologics Inc. of Dallas.

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.