Company News
Published Oct 24 2001
API Inc., St. Paul, said it has formed an alliance with
NBDS/CHEXpedite Payment Solutions, Fort Worth, Texas,
to focus on e-mail billing, payment and settlement services for
corporations.
Venturian Corp., Hopkins, has completed its merger with
Venturian Holdings and the sale of substantially all the assets
and liabilities of its wholly owned subsidiary, Napco
International Inc., to JATA. As a result of the merger,
Venturian Corp. has been delisted from the Nasdaq National
Market. Under the terms of the merger, Venturian Corp.
shareholders became eligible to receive $5 in cash per share of
Venturian Corp. common stock. Each employee holding an
option to buy a Venturian common share will be separately
paid according to a formula set forth in the merger agreement.
MAPPCOR, St. Paul, has received notice from the Midwest
Independent Transmission System Operator (MISO) that it
will acquire certain assets from MAPPCOR in accordance with
the asset purchase agreement between the two organizations.
MISO also will provide certain services for MAPPCOR under
earlier agreements. MAPPCOR is the contractor to the
Mid-Continent Area Power Pool.
Raymedica Inc., Minneapolis, has begun enrolling patients at
two hospitals in Canada for a clinical study on its PDN
prosthetic disc nucleus, a device for the treating low-back pain.
Data from the study will be submitted with a request for
marketing approval of the device in Canada.
Ellerbe Becket, Minneapolis, has been selected by Brazil
Telcom to provide design, engineering and construction
services for a data center in Brasilia, Brazil. The building is to
be completed in 2002.
Timm Medical Technologies Inc., Eden Prairie, has entered
an agreement with Andromeda Medizinische Systeme, GmbH
of Munich, Germany, for exclusive North American
distribution of their urodynamic products.
Norstan Inc., Maple Grove, said two Oklahoma Correctional
facilities have selected Norstan to replace their
telecommunications infrastructure with a new system.
Metris Companies, Minnetonka, has opened an operations
center in Duluth, and plans to close its location in Champaign,
Ill. The company also announced it had completed the
consolidation of its two Scottsdale, Ariz., facilities.
NovaMed Inc., Minneapolis, said its newly formed subsidiary,
Cryogenic Laboratories Inc., has acquired a 100 percent
interest in Cryogenic Laboratories Inc. in exchange for 4.1
million common shares. Cryogenic provides cryogenic
preservation in a long-term storage facility for semen,
umbilical cord blood and human embryos.
Fargo Electronics Inc., Eden Prairie, has received a notice
that the People's Republic of China Patent and Trademark
Office intends to grant a patent for Fargo's printer ribbon
identification sensor.
Innovex Inc., Maple Plain, said its board of directors has
approved the repurchase of up to 1 million common shares. As
of Sept. 30, the company had 15 million shares outstanding.
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