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Catheter Heart Valve Maker CoreValve Gets CEO from Medtronic, VP from Knobbe, Martens

HEALTHCARE

Beckman Coulter Inc. has struck a deal with a competitor to develop a medical diagnostic test.

Earlier this month, Beckman said it got intellectual property rights for hepatitis C virus testing from rival Siemens Healthcare Diagnostics, part of Germany’s Siemens AG.

Financial terms weren’t disclosed. Beckman said in a statement it expects to take a $12 million charge in the current quarter from the deal.

Fullerton-based Beckman makes medical testing instruments and supplies. Customers include hospitals, clinical laboratories running tests for doctors and academic research centers.

Beckman is using the IP rights to develop a blood test for the virus through a molecular diagnostic testing system now under development. The test would measure the amount of hepatitis C in a patient’s body.

Beckman expects to begin selling the testing system in 2010.

In a release, Beckman said 3 million to 4 million people become infected with hepatitis C yearly. ing was “essential” for managing patients with the disease and is used to monitor treatment.

“Our access to this intellectual property will expand the served market for our ’sample-to-result’ molecular diagnostics system,” Chief Executive Scott Garrett said in a release.

Some on Wall Street like it.

“We view this as very strategic for (Beckman’s) future (molecular diagnostics) test menu and a differentiating feature to its platform,” said Jeffrey Frelick of Lazard Capital Markets.

Frelick also examined Beckman’s firstquarter performance.

The company recently reported sales and profits prior to charges that exceeded Wall Street’s expectations.

“We would be buyers of Beckman Coulter, as the diagnostic business again exceeded expectations,” he said.

Beckman earned $42.6 million before charges in the March quarter, above analysts’ expectations of $42 million. Sales were up 19% to $730.5 million, beating Wall Street’s projected $669.4 million.

There’s “no slowdown in hospital spending, as (Beckman) experienced strength across all businesses,” Frelick said in his report.

Some investors had fretted over whether Beckman’s hospital customers would continue spending on equipment.

The analyst called Beckman’s immunoassay business, which uses chemicals to test for a concentration of a substance in urine or blood, “most impressive.”

Sales of immunoassays were up 22% in the most recent quarter, while cellular diagnostic products grew 19% and chemistry and clinical lab automation each were up more than 17%.

Another attraction is Beckman’s stability, according to Frelick.

The company’s quarterly recurring revenue was $575 million, nearly 80% of the total, he said.

A potential risk: “Price wars are a concern as competitors look to regain lost share,” Frelick said.

Beckman’s rivals include companies such as Abbott Laboratories Inc. and Switzerland’s Roche AG and Siemens, which has bought three Beckman competitors this decade, including Dade Behring Holdings Inc. Garrett once ran Dade.

CoreValve Names Executives

CoreValve Inc. has a new chief executive.

The Irvine-based developer of less-invasive heart valves named Daniel Lemaitre as its head. Lemaitre succeeds Jacques Séguin, CoreValve’s cofounder. Séguin remains chairman.

Lemaitre comes to CoreValve from Medtronic Inc., where he was in charge of the company’s corporate strategic planning and corporate development functions since 2006. Lemaitre also spent 28 years as a chartered financial analyst focused on the healthcare industry.

The company also named Vito Canuso III as its vice president of intellectual property. Canuso previously was with Irvine’s Knobbe, Martens, Olson & Bear LLP, where he’d been a partner since 1995.

CoreValve, which started in France and later moved to Orange County, is working on the ReValving system, which can be performed on a patient’s beating heart. The self-expanding tissue heart valve is delivered by a catheter.

Bits and Pieces:

Masimo Corp., an Irvine-based medical device maker, and Irvine-based Edwards Lifesciences Corp.’s PediaSat Oximetry Catheter were among the winners of the AeA Orange County/Inland Empire Council’s 2008 High Tech Innovation awards. AeA, a trade group, also honored Anita Bessler, who in a few months is moving into a new role at Edwards … In other Edwards news, Chief Executive Michael Mussallem spoke late last month at the Global Healthcare Unplugged conference in Miami put on by Morgan Stanley … Richard Carmona, who served as the U.S. surgeon general from 2002 to 2006, recently spoke at the Institute for Health Advancement’s annual health literacy conference in Irvine.

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Copyright CBJ, L. P. May 12-May 18, 2008
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OVERLAND PARK, Kan., May 12 /PRNewswire-FirstCall/ — Most businesses probably feel far removed from Odysseus’ sneak attack against his competition with the Trojan horse, but cybercriminals are using their own modern-day Trojans to sneak into businesses’ networks and computers and attack them by stealing information, sabotaging data, disrupting service and laundering money.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060516/EMBARQLOGO )

The Federal Bureau of Investigation’s Computer Crime Survey, based on the responses of more than 2,000 public and private organizations, found that nearly 90 percent had experienced security attacks within a year’s time, and most of these attacks resulted in financial losses. Viruses and worms were the most costly, accounting for $12 million of the $32 million in total losses.

While viruses and spyware were cited as the most common types of attacks in the survey, cybercriminals have an arsenal of tools from which to choose — the aforementioned Trojans, bots and zombies to name a few — and they can come from anywhere in the world. Survey results showed 36 different countries were sources of attacks against respondents.

The best way for businesses to defend themselves against cyber attacks is to invest in the appropriate level of security needed to manage their risks, but picking the right security solution can be an overwhelming process because there are many options in the marketplace. It can be especially difficult for small businesses that don’t employ IT professionals.

To simplify the process, businesses should consider working with a provider that offers a full portfolio of security options. EMBARQ, for example, has created EMBARQ(TM) Business Security Solutions, a complete security suite that combats multiple risks with a portfolio of options including software, hardware and network-based solutions.

"Our research has shown that at least half of all businesses believe that data security is one of the most pressing issues they face," said Susan Sarna, vice president of marketing and product management for EMBARQ. "No one security measure can protect them from all threats, so we worked with security industry leaders to develop a one-stop security toolbox. Our portfolio lets businesses pick the appropriate level of security to manage risk according to their unique needs."

The EMBARQ(TM) Business Security Solutions portfolio includes desktop, network and e-mail security as well as continuity services such as back-up, recovery and re-routing. Each of the security services can by purchased individually or together using monthly payments, which is another bonus for small businesses because paying for security products up front can often time be a financial hurdle.

Cybercriminals develop new weapons for their arsenal every day, and their armies continue to grow in size. Combating them in the most effective ways possible helps reduce the likelihood that your business will be their next victim. Technology will only become more integral in business, so having appropriate security measures in place to protect information, resources and even the businesses themselves has never been more vital. For more information, visit Embarq.com/security.

About EMBARQ

Embarq Corporation , headquartered in Overland Park, Kansas, offers a complete suite of communications services. The company has approximately 18,000 employees and operates in 18 states. EMBARQ is included in the S&P 500. For consumers, EMBARQ offers an innovative portfolio of services that includes reliable local and long distance home phone service, high-speed Internet, wireless, and satellite TV from DISH Network(R) — all on one monthly bill. EMBARQ(TM) High-Speed Internet customers also have access to the myembarq.com portal featuring premium services including EMBARQ(TM) Unlimited Music and broadband video on demand. For businesses, EMBARQ has a comprehensive range of flexible and integrated services designed to help businesses of all sizes be more productive and communicate with their customers. This service portfolio includes local voice and data services, long distance, Business Class High Speed Internet, wireless, satellite TV from DIRECTV(R), enhanced data network services, voice and data communication equipment and managed network services. EMBARQ received the highest numerical score among providers of local telephone voice services in the proprietary J.D. Power and Associates 2007 Major Provider Business Telecommunications Voice Services Study(SM). Study based on responses from 2,048 business customers measuring 4 providers. Proprietary study results are based on experiences and perceptions of consumers surveyed in January-February 2007. Your experiences may vary. Visit jdpower.com. For more information, visit embarq.com

CONTACT: Media, Tom Matthews of EMBARQ, +1-919-554-7185, Tom.R.Matthews@embarq.com

Web site: http://www.embarq.com/ http://embarq.com/security

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COPYRIGHT 2008 Gale, Cengage Learning

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SEOUL (AFP) — South Korea is to disinfect all poultry farms nationwide to combat its worst outbreak of bird flu, the agriculture ministry said Tuesday.

In the capital Seoul, all 15,000 chickens, ducks and other fowl — including pet birds in school aviaries — have been culled after a second case of the potentially deadly H5N1 virus was confirmed there.

Nationwide, more than 6.8 million chickens and ducks have been slaughtered since the latest outbreak began around April 1. But the ministry has reported 40 cases of bird flu at 31 places nationwide.

An association of poultry breeders estimated losses at 500 billion won (478 million dollars).

The agriculture ministry said it would restrict the distribution and sale of live poultry for human consumption. It has already banned the butchering of chickens and other poultry at traditional markets.

“The government will take …

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