Company News
Published Oct 3 2001
MedAmicus Inc., Plymouth, has issued $1 million in stock to
Med-Design Corp.. The stock is partial payment of $2 million
owed to Med-Design under a licensing agreement granting
MedAmicus exclusive rights to use Med-Design's retractable
needle technology for the venous market.
Pemstar Inc., Rochester, Minn., has agreed to manufacture
electronic assemblies for MTS Systems Corp., Eden Prairie.
Pemstar also will buy the MTS operations in Chaska.
Retek Inc., Minneapolis, and G-Log, a provider of logistics
and transportation software, have agreed to incorporate the
G-Log product into Retek's retail supply chain and logistics
product. Retek also said the Navy Exchange Service Command
will use Retek's product.
Definity Health, Minneapolis, said Raytheon Co. will offer its
health benefit program to employees beginning in January
CyberOptics Corp., Golden Valley, has been issued two U.S.
patents, covering its multi-nozzle LaserAlign sensor and its
Rotary Scan technology, both of which are ysed in aligning
electronic components.
Rural Cellular Corp., Alexandria, Minn., has completed the
sale of the Saco River ILEC operations to an affiliate of
Country Road Communications Inc. for about $35.7 million.
The company also has completed the sale of its PCS licenses
covering southern Oregon to Verizon Wireless. Proceeds will be
used to pay off debt.
Rimage Corp., Edina, said it expects earnings for the 2001
third quarter ended Sept. 30 to be near 13 cents per share. The
company also said it expects to exceed its third-quarter revenue
estimate of $8 million to $10 million. Rimage reported earnings
of 12 cents per diluted share in the third quarter of 2000 on
revenue of $10 million.
Ecolab Inc., St. Paul, bought Commercial Parts and Service,
an Indianapolis-based provider of commercial kitchen
equipment, repair services and partsthat has annual sales of $28
million. Terms were not disclosed.
Sports Resorts International Inc., Flint, Mich., has signed a
contract with Carlson Construction for the expansion of the
company's racetrack in Brainerd, Minn. Sports Resorts is
adding a restaurant, gas station and convenience store to go
with its trackside condominiums.
The Merrifield division of Nortech Systems Inc., Wayzata,
signed a three-year contract to supply printed circuit-board
assemblies and integrated box-build assemblies. The contract is
worth between $14 million and $18 million.
WildCard Systems, Sunrise, Fla., has launched an online
shopping mall with Minneapolis-based U.S. Bancorp on the
U.S. Bank Visa Buxx site.
Navarre Corp., New Hope, said its proprietary division,
Navarre Entertainment Media, has acquired the exclusive U.S.
and Canadian video distribution rights to the 13-part
documentary "2000 Years of Christianity."
Stellent Inc., Eden Prairie, said it expects to exceed analysts'
second-quarter revenue estimates of about $22.7 million.
Preliminary expectations are to report second-quarter total
revenue of about $23 million and pro forma net income of at
least 3 cents per share.
ADC Telecommunications Inc., Minnetonka, signed a
five-year, $70 million contract with Kaptech, a French phone
company, to support Kaptech's rollout of DSL-based business
and residential services.
Medtronic Xomed, a unit of Fridley-based Medtronic Inc.,
completed the purchase of the Meniere's business of Pascal
Medical AB, a Swedish company. Terms were not closed. Pascal
developed the Meniett portable pressure-pulse generator to
treat the symptoms of Meniere's disease, a disorder of the inner
ear that causes recurring bouts of vertigo, tinnitus and hearing
impairment.
Unlimited Scale Inc., St. Paul, said it is developing a scalable
version of the Linux operating system to support
performance-critical work.
Endocardial Solutions Inc., St. Paul, said the U.S. Food and
Drug Administration cleared release of Precision, an upgraded
version of the software used in the EnSite 3000 system, which
maps complex arrhythmias.
RemotePipes Inc., Minneapolis, said it has acquired more
than $1 million in new equity financing. Funding from Nortel
Networks, Prairie Ventures, SLWK Ventures and private
investors completed the round of financing.
Vital Images Inc., Plymouth, and the Surgical Navigation
Technologies division of Medtronic Inc., Fridley, have signed a
nonbinding letter of intent to work together on products and
services in image-guided surgery and surgical planning.
Medwave Inc., Arden Hills, reached an agreement with
P.M.S. (Instruments), England, for distribution of Medwave's
Vasotrac APM205A and the Vasotrax hand-held
blood-pressure monitor in England, Scotland and Ireland.
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