MERGERS AND ACQUISITIONS IntriCon Corp., Arden Hills, a manufacturer and distributor of miniature and micro-miniature body-worn devices, has completed the sale of its 50 percent ownership interest in Global Coils to its Switzerland-based joint venture partner, Audemars SA. The Global Coils joint venture designs, manufactures, markets and sells audio coils primarily to the European hearing health industry. Audemars, which paid $426,000 in cash for IntriCon's stake at closing, will make future payments, both one time and recurring, as specified in the purchase agreement. IntriCon expects to record a third-quarter gain on the sale in the range of $750,000 to $850,000 pretax, or 13 to 14 cents per share.
Datalink Inc., Eden Prairie, has completed the acquisition of substantially all of the assets and liabilities of Cary, N.C.-based Strategic Technologies Inc., an IT services and products firm. The acquisition increases Datalink's presence across the Eastern Seaboard and adds an estimated $65 million in annual revenue.
NEW BUSINESS Prime Therapeutics, Eagan, a pharmacy benefit management company, has opened a specialty facility in Orlando.
DEBT AND EQUITIES Tactile Systems Technology Inc., Minneapolis, a provider of at-home lymphedema treatment, has secured $10.4 million of Series B financing led by Radius Ventures. Galen Partners also participated in the round of financing, which will be used to support Tactile Systems' plans to acquire a new product and intellectual property rights for additional technology. Lymphedema, fluid retention that results in chronic swelling, affects more than a million people each year in the U.S.
