First, The Not So Good:
Mervyn’s Departs
May Department Stores recent purchase of Marshall Fields included Marshall Fields’ Mervyn’s stores. Now May has announced that they will close the Mervyn’s stores will close, including the store at the Eden Prairie Center. May has not yet announced how or what they will do with their Mervyn’s store locations. Let’s hope they fill it sooner rather than later.
Now for The Good:
Cima Labs
Cima Labs is an Eden Prairie success story. They manufacture, among other products, a coating that can be applied to pills to make them easier to swallow. Last year Cima announced that it had agreed to be acquired by Cephalon. Cima stockholders approved the $515,000,000 merger yesterday. The early word on this merger for Eden Prairie is that it will have no negative impacts on the company’s plan to continue operations in Eden Prairie.
High Expectations for Stellent
Stellent Inc. is a successful software company headquartered in Eden Prairie, not too far from Cima Labs in the Golden Triangle business park. Stellent’s stock price popped up yesterday by 5% when Wall Street analysts raised their expectations of the company’s earning potential following its recent merger with Optika.
American TeleCare
The Golden Triangle is also home to our third (& final) good business story of the day. This one is about American TeleCare. American TeleCare is involved in the telehealth industry. Their goal is to “enhance key health care customer applications, such as clinic-to-clinic, provider to patient home and doctor-to-doctor.” They are in the business news today because they received the 2004 Frost & Sullivan Award for Technology Innovation for the development of their Care-Tone telephonic stethoscope.
