MERGERS AND ACQUISITIONS Medtronic Inc., Fridley, entered into an agreement to acquire Ablation Frontiers, Carlsbad, Calif., a maker of medical devices to treat arterial fibrillation. Medtronic made an initial payment of $225 million plus potential additional payments contingent upon achievement of certain clinical milestones. The transaction is expected to close in Medtronic's fourth fiscal quarter, ending April 24.
AbleNet Inc., a Roseville-based manufacturer of assistive technologies and curriculum for people with disabilities, has acquired SoftTouch Inc., a developer of software and access devices for people with multiple physical and intellectual challenges. The acquisition, and subsequent addition of SoftTouch software products to AbleNet's extensive line of assistive technology solutions, extends AbleNet's reach in offering more software products to people with disabilities around the globe. SoftTouch President Mark Fulton will join AbleNet as technology director.
PERSONNEL UnitedHealth Group, Minnetonka, announced that Dr. Kenneth Shine will join the company's board of directors. He is executive vice chancellor for Health Affairs for the University of Texas System.
LEGAL MATTERS Appliance Recycling Centers of America Inc., St. Louis Park, said that the U.S. District Court for the Central District of California granted defendants JACO Environmental Inc. et al. a summary judgment in Appliance Recycling's lawsuit against the parties for unfair competition and false advertising brought by the company in 2004. The ruling was made by the same judge who had earlier denied summary judgment to the defendants. No claims were asserted against Appliance Recycling in the litigation by the defendants. Appliance Recycling said it was disappointed by the ruling, which it said would have no impact on the company's method of recycling or its ability to conduct business.
