According to MedCity News, the promising St. Louis Park-based company was marketing its technology to drug companies and had inked licensing deals with pharma giants like Novartis.
Health Care + Med Tech
A new agreement reportedly calls for medical device companies to pay $595 million in fees over five years, and for the FDA to add more than 200 people to its approval processes-which industry representatives have criticized as being too slow.
Interrad Medical's catheter securing system attracts $10 million in funding.
Minnesota's health care start-ups led their Midwestern neighbors in attracting venture capital by raising $223.2 million last year, according to a report by Cleveland-based BioEnterprise.
Kenneth Burdick will take the helm in mid-February; he most recently served as senior vice president of Coventry Health Care and CEO of its Medicaid and behavioral health businesses; but Burdick reportedly spent 14 years at Minnetonka-based UnitedHealth Group.
The Minnetonka-based company said it is partnering with three companies that offer health related mobile technologies-CareSpeak Communications, Fitbit, and Lose It!
Chuck Runyon's new book acknowledges that "working out may suck," but it cites alternatives like heart disease, diabetes, and less sex as much worse.
Prime Therapeutics plans to add 300 information technology and business analyst jobs as it expands into the former home of Buffets, Inc., in Eagan.
An expanding client roster has helped RedBrick Health boost the number of people who receive its health and wellness services by 100 percent during the past six months.
Minnetonka-based UnitedHealth Group-which reportedly serves 7 million Medicare recipients-will add another 113,000 members with the purchase of Baltimore-based Medicare insurer XLHealth Corporation.
The company, which was founded in 2007 by serial entrepreneur Manny Villafa–a, has entered an agreement through which it will sell up to $20 million of its common stock.
Kathryn Correia will succeed longtime HealthEast leader Tim Hanson, who will retire in January.
A recently posted video by an Envoy Medical patient went viral-and it reportedly increased sales inquiries received by the company by 150 percent.
WellPoint, Blue Cross Blue Shield of Michigan, and Health Care Services Corporation have reportedly bought a 78 percent stake in the start-up for an undisclosed amount.
A dozen of the state's hospitals have won the Minnesota Hospital Association's patient safety awards for implementing measures meant to prevent accidents during surgical procedures and hospital stays.
Medtronic and NuVasive are reportedly accusing each other of infringing on their respective patents related to products used in surgeries.
Former U.S. President Bill Clinton will be the keynote speaker at the Minneapolis Heart Institute Foundation's Spirit of the Heart gala in October.
The company will use the new funds to commercialize its products, which use balloon catheters to clear blocked sinuses.