Company News
Published 09/05/01
ATS Medical Inc., Plymouth, said it expects a third-quarter
loss of 7 cents a share before one-time charges, 1 cent more
than expected. The company expects a third-quarter loss of
$1.6 million on revenue of $3.7 million to $4 million.
Solonis, a Minneapolis-based e-business and technical
consulting firm, established a formal advisory board to serve
the professional sports and entertainment arm of its Customer
Relationship Management consulting business. The board
includes National Basketball Association players Kevin
Garnett of the Minnesota Timberwolves and Antonio McDyess
of the Denver Nuggets.
RBC Dain Rauscher Wessels, Minneapolis, said it will make
a $7.6 million investment in its Israeli partner, investment
bank Tamir Fishman & Co.
Lifecore Biomedical Inc., Chaska, said it will meet with the
Food and Drug Administration on Sept. 6 to discuss the FDA's
rejection of Gynecare Intergel, a product aimed at reducing
post-surgical adhesion. The FDA rejected the drug in
December because of safety and efficacy concerns.
Active IQ Technologies Inc., Minneapolis, has agreed to
acquire privately held Champion Business Systems Inc., a
business-management and accounting software company
based in Englewood, Colo. Terms were not disclosed.
Patsy Sherman and Sam Smith, chemists with 3M Co. who
created Scotchgard coating, will join the National Inventor's
Hall of Fame on Sept. 15. Scotchgard was introduced in 1956.
RSM McGladrey Inc., Minneapolis, has acquired Knight
Vale & Gregory, an accounting firm with offices in Seattle,
Tacoma, Olympia and Renton, Wash. Terms were not
disclosed.
Four51 Inc., Eden Prairie, said Drew & Rogers Inc., a
printing and media-packaging supplier based in Fairfield, N.J.,
will adopt Four51's e-commerce software, and jointly market
it to Drew & Roger's clients.
Anna Maria Carillo, a former officer with former Medtronic
Inc. unit Micro Interventional Systems Inc., was sentenced to
10 months in jail for lying to the FDA about catheter tests, said
U.S. prosecutors in San Jose, Calif. After acquiring the unit in
1995 for $72 million in stock, Medtronic in 1998 filed a civil
suit charging that the company's principals had misled
Medtronic about the condition of the company.
Faegre & Benson, Minneapolis, said Diane Kroupa, former
chief judge of the Minnesota Tax Court, has joined the law
firm and will lead a team of lawyers focused on property tax
valuation appeals for commercial and industrial property in
Minnesota.
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