InterValve, a medical device company in Minnetonka, Minnesota, is looking to close its series A round of funding soon in order to advance its proprietary aortic valvuloplasty balloon to clinical trials later this year.CEO Mark Ungs said the company hopes to begin testing its transcatheter aortic valve device in humans this year and submit it [...]

As the e-clinical software market has seen rapid growth, Minnetonka, Minnesota-based MedNet Solutions, which makes web-based clinical study management tools, has shared in some of that bounty.Earlier in August, the health IT firm made the list of Inc. magazine’s 5,000 fastest-growing, privately held companies for the fifth year in a row. This time, MedNet Solutions [...]

Private insurers and Medicare regional carriers who decided to cover Uroplasty’s primary urinary incontinence product and other positive developments buoyed Uroplasty Inc.’s fiscal fourth-quarter sales numbers.The Minnetonka, Minnesota company announced that in the quarter ended March 31, sales jumped 35 percent to $4.01 million from $2.98 million in the same quarter a year ago. Net [...]

PenRad Technologies Inc., a Minnetonka-based health IT company, announced that it has hired Dan Bickford as executive vice president of sales and business development.Founded in 1995, PenRad’s web products aim to improve work flow, quality and revenue in image and information management in the healthcare sector. The products include a web-based multi-modality reading, workstation, computer-aided [...]

In its hunt to create products that can offer health and wellness benefits, Kraft Foods has inked a licensing deal with Medisyn Technologies, a research company based in Minnetonka, Minnesota.Financial terms of the deal were not disclosed.The agreement allows the food giant to license a portfolio of ingredients that Medisyn and Kraft have uncovered during [...]

Following a February warning letter from the U.S. Food and Drug Administration, Anulex Technologies has had to adjust by having a round of layoffs.President and General Manager Tim Miller declined to say how many people were let go but acknowledged that such letters were “extremely disruptive to business. ”The Minnetonka, Minnesota-based medical device company develops [...]

An orthopedic company in Minnetonka, Minnesota has raised $2.1 million in its latest funding round, according to a filing with the U.S. Securities & Exchange Commission.DGIMed Ortho, an early stage medical device company, makes the Distalock system consisting of intramedullary nails and drills that assists orthopaedic surgeons. Intramedullary nails or rods are metal rods that [...]

Updated: 11:06 a.m.A company that began life in the pharmaceutical sector is venturing forth into devices in its quest to become more of a diversified healthcare company.Chadds Ford, Pennsylvania-based Endo Pharmaceuticals (NASDAQ: ENDP) announced today that the company is buying Minnetonka-based American Medical Systems (NASDAQ:AMMD), a manufacturer of new innovative medical devices focusing on male [...]

Uroplasty (NASDAQ:UPI) has obtained additional insurance reimbursement for its Urgent PC Neuromodulation System, the company announced today. NHIC Corp., the Medicare company for Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, will provide reimbursement for Uroplasty’s Urgent PC Neuromodulation System effective May 22, 2011. NHIC covers about 1.8 million individuals.NHIC had previously provided some reimbursement [...]

Uroplasty’s Urgent PC Neuromodulation System, which treats overactive bladder by stimulating the posterior tibial nerve, will be covered by national insurance company UnitedHealthcare and regional insurer Excellus BlueCross BlueShield. UnitedHealthcare is the largest insurer in the U.S., covering about 33 million patients through various affiliates. Excellus BCBS insures about 1.6 million people in upstate New [...]