Arcapita sells US medical device firm for $450m | Arcapita sells US medical device firm for $450m -

Arcapita sells US medical device firm for $450m

: Wednesday, July 02 - 2014 @ 02:15

Bahrain-based investment management firm, Arcapita has said its Arcapita Ventures I fund has completed the sale of portfolio company, CardioMEMS, to St Jude Medical, a global medical device company headquartered in Minnesota, USA, Gulf Daily News has reported. Headquartered in Atlanta, Georgia, CardioMEMS is a leading medical device company that develops implantable wireless sensors, which gather and transmit pressure information from inside the human body. St Jude Medical had previously invested $60m for a 19% shareholding of CardioMEMS and has now exercised its exclusive option to purchase the remaining 81% of the company, in a transaction valued in excess of $450m.

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Wednesday, July 2- 2014 @ 2:15 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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