The accountants can get some rest. Fridley-based Medtronic has finalized its $29 million acquisition of Restore Medical. The Roseville-based company makes a minimally invasive medical device called the Pillar System to treat sleep apnea and chronic snoring. It’s smaller than a toothpick and can be implanted as an alternative to masks or more invasive surgeries. The product will be integrated into Medtronic’s surgical technologies division.
Think of it like Scotch Tape for severe wounds. 3M Health Care has expanded a licensing deal to sell a line of wound care products worldwide. The 3M Tegaderm Matrix Dressing is made with a technology patented by Greystone Pharmaceuticals of Fort Myers, Fla. The two companies had a deal to sell the product in Canada and parts of Europe. The new licensing agreement covers the United States and most major countries.
Your cell phone will probably never spit out $20 bills on command, but if you’re a US Bank customer you can now use your mobile device to check balances, review transactions and transfer funds. US Bank, headquartered in Minneapolis, said its new mobile banking service is available to Internet banking customers on any major mobile phone carrier as long as it can connect to the Internet. A micro version of its web portal is at m.usbank.com.
With unspent rebate checks dwindling and profit margins on big TVs slimming, will Best Buy be able to meet its ambitious goals? Goldman Sachs analyst Matthew Fassier is uneasy about the company’s stock and announced a “sell” rating on Thursday. Fassier predicted the company’s stock will see some “modest” growth in the next 12-months, but less than other retailers’. “The setup going forward is challenging,” he wrote.
And a bit of fake news this Friday. The Onion‘s Stockwatch reports that the fictitious Cost Cutters stock (actually a part of Edina-based Regis Corp.) is up 19 cents this week: “A lot of people are walking around with a $10.95 haircut lately, and the market is recognizing Cost Cutters as being in the vanguard of this trend.”
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