Wednesday A.M. Report

UnitedHealth’s Ingenix buying Executive Health Resources: Ingenix, a health-information unit of UnitedHealth Group, announced today that it will acquire Executive Health Resources. Based in Newtown Square, Pa., Executive Health Resources provides medical necessity compliance and physician medical management solutions to more than 1,100 hospitals and health systems nationwide. The acquisition will better position Ingenix, a subsidiary of Minnetonka-based UnitedHealth, to assist hospitals in serving an expected increase in the number of patients on government-sponsored health plans. Read full story

Best Buy partners with mobile startup to offer rewards: Besty Buy has partnered with a California startup that allows consumers to receive retail rewards when they walk into a store. Richfield-based Best Buy said it’s testing the system, developed by Palo Alto, Calif.-based shopkick Inc., at a store in San Francisco. Shopkick has developed an app that uses a cell phone’s GPS technology to detect when a consumer enters a store. Retail rewards become instantly available to consumers when they walk in. Read full story

Techne earnings up slightly in Q4: Techne Corp. reported Tuesday that its earnings rose 2 percent in the fourth quarter, although the company’s results still missed analysts’ expectations. The Minneapolis-based biotech company, which makes products used in drug development and scientific labs, reported a fourth-quarter profit of $25.9 million, or 69 cents per share. That’s up from $25.4 million, or 68 cents per share, in the same period a year ago. Sales grew 2.8 percent to $66.7 million. Read full story

Whole Foods to open Edina store: Whole Foods Market Inc. plans to open a 32,000-square-foot store on France Avenue in Edina in 2012. It will be the company’s third location in Minnesota. Austin, Texas-based Whole Foods — the nation’s largest chain of natural and organic supermarkets — has signed a lease at Centennial Lakes Plaza, a roughly 200,000-square-foot shopping center on France Avenue, near the Galleria, according to real estate sources familiar with the deal. Read full story

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