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Monday P.M. Report

Medtronic stent wins FDA approval: Medtronic has received U.S. Food and Drug Administration approval for its Integrity heart stent, the medical device maker announced today. Fridley-based Medtronic said the new stent — a tiny mesh tube used to prop open a clogged artery — is highly flexible and has been shown in testing to be highly deliverable. “The Integrity stent system sets a new gold standard for deliverability thanks to the advance of continuous sinusoid technology,” said Dr. Mark Turco, director of cardiac and vascular research at Washington Adventist Hospital in Tacoma Park, Md. He was among the first U.S. interventional cardiologists to use Integrity in clinical practice. Read full story

Minnesota lags in income growth: Minnesota is lagging in personal income growth, according to a report today by the U.S. Bureau of Economic Analysis. The state had total personal income of $225.92 billion in the second quarter of 2010, up 0.92 percent from the first quarter. That growth rate tied with Connecticut for 35th in the nation. North Dakota registered the sharpest increase in total personal income between the first and second quarters, with a seasonally adjusted gain of 1.97 percent. Read full story

State fines New York insurance company $100,000: The Minnesota Department of Commerce announced today it has fined a New York insurance company $100,000 for allegedly using deceptive advertising to sell unapproved insurance policies to Minnesota consumers. According to a Commerce Department examination, National Union Fire Insurance Co. allegedly violated state law by selling at least 1,500 “Essential Health” plans to Minnesota residents that included an accident and sickness insurance policy and a discount medical component. The department found that the company, directly and through its contractors, may have led consumers to wrongly believe that the discount portion of the “Essential Health” plan was the equivalent of health insurance or a major medical plan. Read full story

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