MERGERS AND ACQUISITIONSMedtronic Inc., Fridley, has completed the acquisition of two privately held surgical technology companies, PEAK Surgical Inc. and Salient Surgical Technologies Inc. Palo Alto, Calif.-based PEAK Surgical features PlasmaBlade cutting technology that is cleared for use in such settings as ear, nose and throat, plastic reconstructive and general surgical applications. Under terms of the agreement announced on July 7, the total value of the transaction is $120 million. Medtronic had invested in PEAK and held an ownership stake in the company prior to its completion of the acquisition. Net of this ownership stake, the transaction value is approximately $105 million. PEAK's annual revenue is about $20 million. Salient Surgical Technologies, Portsmouth, N.H., has developed technologies in the advanced energy category for hemostatic sealing of soft tissue and bone, including its Transcollation technology that is cleared for use in surgical procedures including orthopedic surgery, spine, open abdominal and thoracic procedures. Under terms of the agreement announced on July 7, the total value of the transaction is $525 million. Medtronic had invested in Salient and held an ownership stake in the company prior to completion of the acquisition. Net of this ownership stake, the transaction value is about $480 million. Salient's annual revenue is about $100 million.
NEW BUSINESSThe Minnesota Public Utilities Commission has unanimously approved Minnesota Power's request for approval of investments and expenditures in its Bison 2 wind project for recovery through a renewable resources rider. Bison 2, a 105-megawatt wind farm located near New Salem, N.D, is part of the company's plan to cost-effectively meet the Minnesota renewable energy mandate while reshaping the generation portfolio of Minnesota Power, a division of Duluth-based Allete Inc. The $157 million wind farm will be located adjacent to the company's Bison 1 project now under construction, and is expected to produce emission-free electricity over a 35-year life.
Healthsense Inc., Mendota Heights, said that Goodwin House Bailey's Crossroads has selected Healthsense as their aging services technology provider. Healthsense will install a Wi-Fi based emergency call system that will cover the entire eight-acre campus.
