MERGERS AND ACQUISTIONSNorwest Equity Partners, Minneapolis, has completed the sale of its portfolio company, CVI Melles Griot, to IDEX Corp. CVI Melles Griot, a manufacturer of precision photonics products, including components, assemblies and systems, will operate within IDEX's Health and Science Technologies segment as an addition to the company's optics and photonics platform. The transaction is valued at $400 million.
Company news
June 14, 2011 at 1:54AM
NEW PRODUCTSEden Prairie-based Humanetics Corp. received a $3.5 million federal contract to develop a drug to prevent injury to the lungs during a nuclear explosion. The money would go toward preliminary efficacy studies. The two-year contract is with the Biomedical Advanced Research and Development Authority, a group within the Department of Health and Human Services.
DEBT AND EQUITIESUroplasty Inc., Minneapolis, has been included on a list of preliminary additions to the Russell 3000 Index and the Russell Global Index posted by Russell Investments on June 10 on www.russell.com. These changes are expected to go into effect after the close of trading on June 24.
PERSONNELAmeriprise Financial Inc., Minneapolis, has appointed Lon Greenberg to its board of directors. Greenberg is chairman and chief executive officer of UGI Corp., a distributor and marketer of energy products and services.
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Health care spending rose by 15%, driven by higher prices. Officials say solutions are needed to prevent Minnesotans from being priced out or delaying care they need.
