Boston Scientific said it will sell off pieces of its investment portfolio in two separate deals to help reduce debt it took on when it acquired Guidant, reports the Boston Globe. The deals are expected to raise about $140 million, but will also trigger a loss against second-quarter results. In the first deal, the firm will sell off its stake in 54 companies to Saints Capital, which buys venture-capital and private-equity investments, for $100 million.

June 20, 2008

1 Min Read
Boston Scientific to Raise $140 Million by Selling Part of Investment Portfolio

In the second deal, the firm will sell its investment in a portfolio of venture funds and companies to Paul Capital Partners, a private equity firm, for about $40 million. These moves come in addition to those announced earlier, including selling off non-core businesses and laying off employees.Big device companies can be a source of investment capital for start-up device companies. So start-ups shouldn't be expecting any boost from Boston Scientific anytime soon.

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