San Diego Business Journal


Millennium Health Reportedly Reaches Settlement with Government

Millennium Health, the nation’s largest drug-testing company, is finalizing plans to pay the U.S. Department of Justice $275 million to settle a probe over its billing practices and hand over control of the company to lenders in bankruptcy proceedings, Bloomberg reported Sept. 23.

MediaTek Chip Replaces Qualcomm's in Amazon Product

Taiwan-based MediaTek said on Sept. 17 that its processor powers the latest Amazon Fire TV streaming box, as well as the Fire HD 8 and Fire HD 10 tablets, which go on the market between Sept. 30 and Oct. 5.

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Downtown Land Parcels Sold for $4.4 Million

A partnership recorded as 3500 5th LP has acquired two contiguous land parcels in downtown San Diego’s East Village for $4.4 million, according to brokerage company Colliers International.

Scripps Is First Local Provider to Implant New Defibrillator That Is Compatible With MRIs

Scripps Health in San Diego County says it’s the first local provider to offer an implantable cardioverter defibrillator (ICD) device approved for use with MRI scans.

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Grant Hill Multifamily Portfolio Sold for $2.1 Million

H Street Plaza LLC of San Diego has purchased a 16-unit multifamily property portfolio in San Diego’s Grant Hill neighborhood for $2.1 million, according to brokerage firm ACRE Investment Real Estate Services.

GA-ASI Awarded $47.5 Million Army Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a $47.5 million contract modification that pays for engineering changes to the Army’s improved Gray Eagle unmanned aircraft.

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BioMed Shares Rise Sharply After Report of Possible Sale

San Diego’s BioMed Realty Trust Inc. was among the biggest movers on the New York Stock Exchange on Sept. 23, after a media report that the company is exploring a sale.

New Life Science Firm Raises $15 Million in Equity Financing

A local pharmaceutical company founded by life science veteran Cam Gallagher has raised $15 million in equity financing, according to a recent filing with the Securities and Exchange Commission.

Report: Local Medical Office Space Tightening

San Diego County’s medical office supply continues to tighten, as care providers seek opportunities to upgrade or expand their spaces, according to a new report by commercial real estate brokerage company JLL.

Bridge Bank Launches Life Sciences Group

Bridge Bank announced Wednesday the launch of a new banking group to be based in San Diego – Life Sciences Group (LSG) – which will offer customized financial solutions to companies operating in the life sciences sector.

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Gafcon Launches Transportation Services Division

San Diego-based construction management firm Gafcon Inc. has launched a new transportation division, to include federal, state and local transportation projects.

Kratos to Repurchase $175 Million Worth of Bonds

Kratos Defense & Security Solutions Inc. announced on Sept. 22 that it accepted $175 million worth of bonds for repurchase.

Northrop Grumman Signs 21-Year Deal with Norway Company

The supply chain for advanced military electronics stretches from San Diego back to Norway.

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Lakeside Apartments Sold for $6.35 Million

San Diego-based Haliburton Plaza Investments has acquired the 54-unit Magnolia Terrace Apartments in Lakeside for approximately $6.35 million, according to brokerage firm The Heritage Group.

Ann Pickren Promoted to President at MIR3 Inc.

San Diego-based MIR3 Inc., which makes mass notification software for corporate clients, said Tuesday it was promoting its chief operating officer to become its president.

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Local Hotels Make Key Executive Hires

New executive management appointments were recently announced at hotels in San Diego, Carlsbad and Coronado.

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Genomics Pioneer Stephen Kingsmore to Lead Rady Institute

Rady Children’s Hospital announced that genomics pioneer Stephen Kingsmore will be the first president and CEO of its Pediatric Genomics and Systems Medicine Institute.

Jack in the Box Announces New Share Repurchase Program

Jack in the Box Inc. announced that its board of directors has authorized an additional $200 million stock buyback program commencing in fiscal year 2016 and expiring in November 2017.

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Apartment Properties Change Hands in San Diego, Oceanside

San Diego-based Mar City LLC has acquired a 20-unit apartment property in Logan Heights for approximately $3.12 million, from ZBES 145764 LLC of San Diego. The buyer and seller of the property, called Imperial Villa Apartments at 3295-99 Imperial Ave., were represented by Bill Anderson of brokerage firm ACRE Investment Real Estate Services.

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National City Office Building Sells for $2 Million

A&S Group LLC of San Diego, led by Daniel Shkolnik and Brandon Blum, has acquired a National City office building for approximately $2 million, with plans for an extensive renovation, the company announced.