Company News

June 25, 2010 at 2:51AM

NEW PRODUCTS St. Jude Medical Inc., Little Canada, has received Japanese Ministry of Health, Labour and Welfare approval and reimbursement approval of its Therapy Cool Path Ablation Catheter. This marks the company's first entry into the irrigated catheter ablation market in Japan. Cardiac ablation catheters are used to help treat cardiac arrhythmias, which are irregular heartbeats that impair the heart's ability to effectively pump blood to the body.

Boston Scientific Corp., Natick, Mass., and Twin Cities, said Thursday it has received Food and Drug Administration approval to launch of two spinal cord stimulation (SCS) lead splitters for use with its Precision Plus Spinal Cord Stimulator System, the world's first rechargeable SCS device for the management of chronic pain of the trunk, back and/or limbs.

NEW BUSINESS FSI International Inc., Chaska, has received an order for its Orion single wafer processing system from a second major semiconductor foundry based in Asia. The Orion system is scheduled to ship later this summer.

Medica, a Minneapolis-based health care insurance provider, and HealthInsight, a provider of value-based health care incentive platforms, have partnered to deliver a next-generation value-based benefit program to Medica's commercial customers. Under the agreement, Medica will deploy HealthInsight's value-based technology, including personalized scorecards, to its commercial customers with a program that delivers better quality of care and experience for members while reducing medical costs.

Amcom Software Inc., Minneapolis, said that its pc/psap 911 call center product has received Joint Interoperability Test Command certification and is now listed under the Department of Defense's Unified Capabilities Approved Products List.

MoneyGram International, Minneapolis, and National Bank of Abu Dhabi (NBAD), a bank in the United Arab Emirites (UAE), announced a strategic agreement that will make international money transfer services via mobile phones available for the first time to the bank's customers all over the UAE. NBAD is the first MENA bank to allow international remittances via mobile phones to more than 200,000 locations across 190 countries around the globe. MoneyGram also said that it has signed a deal with United Bank in Egypt that will add 43 locations in key cities throughout the country. United Bank, which is majority owned by the Central Bank of Egypt, will introduce MoneyGram services into many new cities, thus providing an opportunity for growth.

DEBT AND EQUITIES The board of directors of Medtronic Inc., Fridley, approved a cash dividend of 22.5 cents per common share, an increase of 9 percent from the prior dividend, payable July 30 to shareholders of record on July 9.

Best Buy Co. Inc., Richfield, has increased its quarterly cash dividend to 15 cents per common share, an increase 14 cents, payable Oct. 26 to shareholders of record as of Oct. 5. The company had more than 420 million common shares issued and outstanding as of May 29.

Apogee Enterprises Inc., Bloomington, declared a quarterly cash dividend of 8.15 cents per share, payable July 28, 2010 to shareholders of record on July 13. The company has about 28.1 million shares outstanding.

Supervalu Inc., declared a regular quarterly dividend of 8.75 cents per share, payable Sept. 15 to stockholders of record on Sept. 1. As of June 18, there were about 212.1 million shares outstanding. Supervalu also said it has adopted a new annual share repurchase program authorizing the company to purchase up to $70 million of the company's common stock through June 30, 2011. The annual authorization program announced today replaces the existing $70 million share repurchase program authorized in May 2009 under which about 220,000 shares were repurchased at a cost of about $2.9 million.

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