MERGERS AND ACQUSITIONS Nortech Systems Inc., Wayzata, has acquired all of the intellectual property and assets of Trivirix Corp., Milaca, Minn., excluding cash and receivables. Terms were not disclosed. The Milaca operation specializes in the design, manufacturing and post-production services of complex electronic and electromechanical medical devices for diagnostic, analytical and other life-science applications.
NEW PRODUCTS Uroplasty Inc., Minnetonka, has been informed that percutaneous tibial nerve stimulation, the procedure performed using the Uroplasty Urgent PC Neuromodulation System, will receive a category 1 CPT reimbursement code. This is expected to occur when codes are published by the Centers for Medicare and Medicaid Services, which is expected in October 2010. Reimbursement rates for the procedure have not yet been established, the new CPT code number has not been assigned, and reimbursement requests using the new CPT code may not be submitted before January 2011. Also, the code will not ensure that additional reimbursement agencies beyond those that currently cover the procedure will cover PTNS treatments.
Angeion Corp., St. Paul, has partnered with Milwaukee-based Mortara Instrument Inc. to produce the Ultima CardiO2 metabolic stress-testing system. The Ultima CardiO2, part of Angeion's MedGraphics product line, incorporates an integrated 12-lead ECG from Mortara Instrument to enhance testing capabilities, including a breath-by-breath analysis.
PERSONNEL Capella Education Co., a Minneapolis-based provider of exclusively online post-secondary education through its subsidiary Capella University, said that Lois Martin, senior vice president and chief financial officer, has given notice that she intends to leave Capella. Martin will remain full time in her current role through 2010, while a search is completed to fill the CFO position.
DEBT AND EQUITIES Ecolab Inc., St. Paul, declared a regular quarterly cash dividend of 15.5 cents per common share, payable July 15 to shareholders of record on June 15.
