NEW PRODUCTS American Medical Systems, Minnetonka, a provider of devices and therapies for male and female pelvic health, has launched its MoXy Liquid Cooled Fiber for laser treatment of enlarged prostate. It also said eight of its GreenLight HPS laser consoles have been acquired for public hospitals in Australia.
St. Jude Medical Inc., Little Canada, has received regulatory approval from the Japanese Ministry of Health, Labor and Welfare for its EonMini spinal cord stimulation system for the treatment of chronic pain.
Atritech Inc., Plymouth, said it has received German reimbursement coverage for the left atrial appendage closure procedure beginning in 2011 to treat the heart condition called atrial fibrillation.
DEBT AND EQUITIES EnteroMedics Inc., Roseville, a developer of neuroblocking technologies to treat obesity, said Thursday that it has a $6.3 million private placement transaction with several investors for a nonvoting convertible preferred stock offering. It includes sale of 3.4 million shares of convertible preferred stock at $1.72 per share. The company intends to use proceeds for general working capital. In addition, about 3.4 million warrants of common stock were issued.
PERFORMANCE Datalink Corp., Chanhassen, confirmed its third-quarter 2010 guidance: It expects quarterly revenues in the range of $69 million to $70 million, compared with revenues of $42.7 million in the third quarter of 2009. On a GAAP basis, the company expects results per share in the range of a loss of 1 cent per share to earnings of 1 cent per share. On a non-GAAP basis the company expects earnings per share in the range of 7 cents per share to 9 cents per share.
LEGAL MATTERS Buffalo Lake Energy, Fairmont, Minn., agreed to pay a $285,000 penalty issued by the Minnesota Pollution Control Agency to resolve alleged violations of state-issued environmental permits at its ethanol production facility in Fairmont.
Global Traffic Technologies, St. Paul, has filed a patent infringement complaint against Emtrac Systems Inc., Mt. Vernon, Ill., in U.S. District Court for the District of Minnesota. The complaint alleges that Emtrac and persons working in its name have infringed a Global Traffic patent by using, selling, and operating its Emtrac Priority Control System. According to state of Illinois records, Emtrac Systems Inc. was dissolved by the state of Illinois on Sept. 11, 2009. The complaint alleges that individuals have continued to engage in infringing activity in the name of Emtrac after its dissolution. The complaint seeks damages and an injunction.
PERSONNEL Otter Tail Corp., Fergus Falls, Minn., said that Lauris Molbert, executive vice president and chief operating officer, has resigned from the company, effective Dec. 30, 2010. Molbert will stay on to complete projects and help with an orderly transition of his duties.
