Los Angeles Business Journal


Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...

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.

Response Genetics Delisted From Nasdaq

Diagnostic test maker Response Genetics was delisted from the Nasdaq Capital Market Monday and began trading on the Over-the-Counter market.

Health Net Purchased for $6.8 Billion

Health Net Inc. announced Thursday that it will be acquired by Centene Corp. in a cash and stock deal valued at $6.8 billion.

Soon-Shiong’s NantHealth Sells 10 Percent Stake for $200 Million

An investment from Allscripts Healthcare Solutions values Patrick Soon-Shiong’s health care IT firm NantHealth at $2 billion.

Friday Rundown: Disney Settles ‘Frozen’ Suit, Soon-Shiong’s Conkwest Raises $71 Million

Walt Disney Co. has settled a lawsuit alleging copyright infringement involving the trailer for its 2013 animated hit “Frozen.”

Century City Drug Maker Has IPO

Ritter Pharmaceuticals Inc., developer of drugs to treat lactose intolerance, debuted on the Nasdaq today under the symbol RTTR.

Soon-Shiong’s NantCell Acquires Italian Stem Cell Firm

NantCell, the immuno-oncology subsidiary of billionaire Patrick Soon-Shiong’s growing NantWorks health care technology empire, has acquired tissue and stem cell engineering firm VivaBioCell. Terms of the deal were not disclosed.

Kite Teams Up for HPV Drugs

Biotech firm Kite Pharma Inc. announced Monday that it will partner with leading immunotherapy developer Bluebird Bio Inc. of Cambridge, Mass. to develop and commercialize drugs directed against a cancer-causing strain of the human papillomavirus, or HPV.

Monday Rundown: New CEO for Long Beach Hospitals, Gulfstream Accountant Sentenced for Embezzlement, Tutor Perini to Build Philadelphia Hotel

MemorialCare Health System has promoted John Bishop, chief financial officer of Long Beach Memorial hospital, Miller Children’s & Women’s Hospital Long Beach, Community Hospital Long Beach and Seaside Health Plan in Long Beach, to chief executive.

Angelenos Swept Up in Medicare Fraud Bust

The Department of Justice announced Thursday it has charged eight people in Los Angeles with bilking Medicare out of about $66 million.

Kythera Purchased for $2.1 Billion

Kythera Biopharmaceuticals, Inc. will be acquired by Allergan plc in a $2.1 billion buyout announced Wednesday.

Wednesday Rundown: Wage Hike Almost Official, Sundance Cinema Selling, Arrowhead Drug Gets ‘Orphan’ Incentives

Council OKs Wage Hike It’s almost officially official: The Los Angeles City Council has given final approval to a minimum wage hike in the city, sending the measure to the mayor’s desk.