Friday P.M. Report

Medtronic gets OK to test heart valve in U.S.: Medtronic said today that it’s received U.S. Food and Drug Administration approval to test an artificial heart valve that can be implanted without open heart surgery. Medtronic’s CoreValve System has already been used to treat 12,000 patients in more than 34 countries outside the United States. The company generated $100 million in revenue through sales of transcatheter heart-valve products in other countries last year. Read full story

$5M HUD grant to help planning keyed to Twin Cities transit: The Metropolitan Council recently won a $5 million U.S. Department of Housing and Urban Development to help with community planning around Twin Cities mass transit. The money was part of HUD’s $100 million Sustainable Communities Initiative, which is meant to support community planning in a host of areas, from creating affordable housing where residents have access to job opportunities to promoting energy efficiency. Read full story

Seagate Technology mulling offer to go private: Seagate Technology said Thursday it has received “preliminary indication of interest” about taking the company private. Scotts Valley, Calif.-based Seagate, which has major operations in major Minnesota operations in Bloomington and Shakopee, did not say what private equity or other entity had made the proposal. “There is no assurance that the company will receive a formal offer or that any transaction will take place,” Seagate said. Read full story

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