Trimedyne Funds Unit
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IRVINE — Trimedyne Inc. said it named a president for its Cardiodyne Inc. subsidiary and invested $2 million in the unit.
E. Phillip Palmer, former vice president of corporate development at St. Jude Medical Inc., was named president and chief operating officer of Cardiodyne. The position is a new title.
The medical-devices maker said the $2-million investment will be used to develop a laser system to treat clogged arteries.
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