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Thomas Lee

Thomas Lee

Thomas Lee was the Minnesota Bureau Chief for MedCityNews.

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Former Medtronic Chairman/CEO Winston Wallin dies

Former Medtronic Chairman/CEO Winston Wallin dies

December 20, 2010 7:18 pm by | 0 Comments

It's been that kind of day at Medtronic Inc. (NYSE:MDT). In the morning, the company in Fridley, Minnesota, announced current CEO Bill Hawkins would retire next year. In the afternoon, ... Read more
Hawkins exit may show Medtronic’s need for bold leader/big deals

Hawkins exit may show Medtronic’s need for bold leader/big deals

December 20, 2010 6:52 pm by | 0 Comments

When Medtronic Inc. (NYSE:MDT) CEO Art Collins retired in 2007, there were at least two top candidates vying to replace him. One was Michael DeMane, the brash president of Medtronic's ... Read more
Medtronic CEO Bill Hawkins to step down next year

Medtronic CEO Bill Hawkins to step down next year

December 20, 2010 11:13 am by | 0 Comments

Medtronic Inc. (NYSE:MDT) said Monday that Chairman/CEO Bill Hawkins will retire next year. The medical device giant based in Fridley, Minnesota, said Hawkins, 56, will leave the company April 2011. ... Read more
Is Boston Scientific’s plan to boost earnings growth unrealistic?

Is Boston Scientific’s plan to boost earnings growth unrealistic?

December 17, 2010 3:27 pm by | 0 Comments

During its investors presentation, BSX told analysts it could boost earnings per share growth (EPS) by 11-12 percent annually through 2015, mostly through aggressive cost cutting.The company based in Natick, ... Read more
FDA approves Medtronic’s Arctic Front therapy for a-fib

FDA approves Medtronic’s Arctic Front therapy for a-fib

December 17, 2010 2:28 pm by | 1 Comments

Medtronic Inc. (NYSE:MDT) said Friday that the Food and Drug Administration (FDA) has approved a catheter-based therapy that uses cold temperatures to combat atrial fibrillation (AF). Medtronic inherited Arctic Front ... Read more
Minnesota’s CSI raises $5M for arterial plaque-removing device

Minnesota’s CSI raises $5M for arterial plaque-removing device

December 16, 2010 6:29 pm by | 0 Comments

Cardiovascular Systems Inc. (CSI), based in New Brighton, Minnesota, has raised $5 million from the sale of debt, according to documents filed with the Securities and Exchange Commission. In 2008, ... Read more
SurModics’ maneuvers may force Ramius to get hostile or drop out

SurModics’ maneuvers may force Ramius to get hostile or drop out

December 16, 2010 3:19 pm by | 0 Comments

Your move, Ramius. The alternative investment firm and activist shareholder purchased a 12 percent stake in SurModics Inc. (NASDAQ:SRDX) because it saw a clear opportunity to boost the stock and ... Read more
Elk Run developer CEO gets medieval on MedCity News

Elk Run developer CEO gets medieval on MedCity News

December 15, 2010 12:53 pm by | 10 Comments

When you're the president and CEO of a major national real estate development firm, it's best to develop a thick skin. It's also probably not a good idea to post ... Read more
Plot thickens: SurModics names CEO, puts pharma unit up for sale

Plot thickens: SurModics names CEO, puts pharma unit up for sale

December 14, 2010 7:55 pm by | 0 Comments

I guess SurModics Inc. (NASDAQ:SRDX) just responded. Just a day after the company based in Eden Prairie, Minnesota, said it would formally respond to Ramius LLC's efforts to name three ... Read more
Will God save the Elk Run BioBusiness Park project in Minnesota?

Will God save the Elk Run BioBusiness Park project in Minnesota?

December 14, 2010 4:36 pm by | 9 Comments

"There are two things that we know about the universe," Abraham Algadi said. "We can only control the things we can control. The rest, we leave to a higher power." ... Read more
Medtronic wins FDA approval for diabetes management software

Medtronic wins FDA approval for diabetes management software

December 13, 2010 7:03 pm by | 0 Comments

The artificial pancreas just got a brain. Medtronic Inc. (NYSE:MDT) said Monday the Food and Drug Administration has approved software that helps manage a patient's diabetes therapy. ... Read more
SurModics silent on investment firm’s nominees to board of directors

SurModics silent on investment firm’s nominees to board of directors

December 13, 2010 5:11 pm by | 0 Comments

As proxy fights go, the battle for SurModics Inc. (NASDAQ:SRDX), based in Eden Prairie, is downright tame -- for now. Last week, Ramius LLC, the alternative investment firm of Cowen ... Read more
Top House Republican targets orthopedics industry, med devices

Top House Republican targets orthopedics industry, med devices

December 13, 2010 11:13 am by | 1 Comments

For those people in the beleaguered medical device industry who think they will fare better under a more Republican Congress, think again. As the industry and its allies in the ... Read more
Medtronic’s Sprint Fidelis settlement leaves some patients out in the cold

Medtronic’s Sprint Fidelis settlement leaves some patients out in the cold

December 10, 2010 12:30 pm by | 0 Comments

From a strictly legal sense, Medtronic Inc. (NYSE:MDT) has closed the book on its Sprint Fidelis debacle. The Fridley, Minnesota, company won a landmark victory in the U.S. Supreme Court ... Read more
Minnesota senators recruit buddies to pressure FDA over 510(k)

Minnesota senators recruit buddies to pressure FDA over 510(k)

December 9, 2010 5:51 pm by | 1 Comments

Minnesota Sens. Amy Klobuchar and Al Franken along with Rep. Erik Paulsen have championed the medical device industry, giving speech after speech and writing letter after letter to the Food ... Read more