NEW BUSINESS
Smiths Medical, Arden Hills, said that the Department of Veterans Affairs awarded the company a contract to purchase its CADD-Solis ambulatory infusion system for the VA Medical Center in Huntington, W.V. The CADD-Solis ambulatory infusion system is a portable pain management system that administers pain relief medications, including narcotics, to post-surgery, trauma, cancer and women in labor.
Merrill Corp., a St. Paul-based provider of technology-enabled services for the financial, health care, real estate, legal and other corporate markets, has opened an office in Singapore to serve the Southeast Asian capital markets. This office will combine Merrill Corp.'s existing Merrill DataSite offering and Legal Services business already established in Singapore.
DEBT AND EQUITIES
Allianz Life Insurance Co. of North America, Golden Valley, said that A.M. Best affirmed the company's financial strength rating as A (Excellent) and assigned a stable outlook. The ratings reflect Allianz Life's strategic position under its parent, Allianz SE, as well as its leadership in the fixed annuity market. A.M. Best said the ratings reflected Allianz Life's leading U.S. market position within the fixed-index annuity market, its solid risk-based capital position, well-developed enterprise risk management framework as well as other key operating practices.
Techne Corp., Minneapolis, declared a dividend of 30 cents per share for the quarter ended June 30. The quarterly dividend is payable Aug. 31 to all common shareholders of record on Aug. 16.
PERSONNEL
Patterson Companies Inc., Mendota Heights, said that Michael Orscheln will join the company as president of the Patterson Medical unit. Orscheln was most recently was president and chief executive officer at Phonak US, a medical device manufacturer.
