MERGERS AND ACQUISITIONSMedtronic Inc., Fridley, said it purchased rights to a chitosan-dextran gel technology from Adelaide Research & Innovation Pty Ltd., the commercial development company of the University of Adelaide in Australia, Robinson Squidgel Ltd., and Otago Innovation Ltd., a University of Otago company, in New Zealand. Medtronic is acquiring the technology for potential use in future products for functional endoscopic sinus surgery. More than 525,000 of these procedures are performed each year in the United States. Terms were not disclosed.
3M Co., Maplewood, has had acceptances of its offer for shares of Winterthur Technologie that, together with shares purchased, will result in 3M owning close to two-thirds of Winterthur's shares. Based on the current rate of tenders, 3M expects to own more than two-thirds at the end of another acceptance period.
NEW BUSINESSCommunity Reinvestment Fund USA, a Minneapolis-based nonprofit that connects community-based and economic development lenders with the capital resources of Wall Street, has received $77 million in federal New Markets Tax Credit funds that will fund loans to business in low-income communities.
DEBT AND EQUITIESEcolab Inc., St. Paul, declared a regular quarterly cash dividend of 17.5 cents per common share, payable April 15 to shareholders of record on March 8.
PERSONNELAnalysts International Corp., Edina, named Brittany McKinney president and chief executive officer. She has been interim president and CEO since September and earlier was the company's vice president of corporate development. She joined the information technology services company in 2007. McKinney will also be nominated to the board of directors at the company's next annual meeting.
