SAN FRANCISCO, CA, Jun 19 (MARKET WIRE) --
Saints Capital, a leading secondary direct investment firm, today
announced that it has signed a definitive agreement to acquire interests
in fifty-four companies from Boston Scientific Corporation, (NYSE: BSX),
a worldwide developer, manufacturer and marketer of medical devices.
"Boston Scientific has made a number of investments in high quality
companies and we are excited to have the opportunity to acquire these
interests from them," said Ken Sawyer, managing director of Saints
Capital. "Acquiring investments in fifty-four companies in one fell-swoop
is a complicated task, and we're proud of our ability to deliver the
solution required for this transaction in an efficient manner that meets
the needs of both Boston Scientific and the individual portfolio
companies."
Saints is the leading global investment firm solely focused on the
acquisition and management of venture capital portfolios on a secondary
basis. These activities assist sellers who are seeking to obtain immediate
liquidity for their investment stakes or to minimize future investment
requirements in private equity. Saints remains committed to partnering
with sellers to meet their objectives while providing portfolio companies
with the necessary follow-on capital and a stable, long-term committed
investor base.
In conjunction with the transaction, Scott Halsted, formerly a managing
director at Morgan Stanley Venture Partners, will be joining Saints as a
managing director focused on managing the assets acquired from Boston
Scientific. "The medical device industry requires a high level of
specialization for the effective evaluation and management of investments.
In looking at this acquisition, we are very optimistic in the potential
for growth opportunities for this portfolio of companies," said Halsted.
"We believe that investment success comes from assisting portfolio
companies in building value over the long term. In that light, we look
forward to bringing the collective resources of the Saints team and
extended global network to bear for these newly acquired companies as
they expand their own businesses."
Saints has a proven track record of healthcare sector expertise, having
been active investors in companies such as Arcadia Biosciences, Acorda
Therapeutics, Cardiac Pathways, Coapt, Corus Pharma, ECIN, Emageon,
eMedicine, GMP, Illumina, Laureate Pharma, LifeMasters, Locus
Pharmaceuticals, Medicines, Medsite, MedVantx, Nitromed Notal Vision,
PatientKeeper, Provation, Rita Medical, and Zonare.
Saints has over $1 billion of committed capital across eleven funds,
through which Saints has acquired secondary investment interests in over
170 companies. Saints plans to provide follow-on capital as appropriate
across the portfolio.
About Saints Capital
Saints Capital is a leading direct secondary acquirer of venture capital
and private equity investments in emerging growth companies around the
globe. Saints also makes traditional direct venture capital investments on
a primary basis and in special situations in technology, healthcare,
consumer and industrial companies in the United States. Saints is
headquartered in San Francisco, with investment professionals throughout
Europe and Asia. Saints currently manages funds with investments in more
than 100 individual companies totaling more than $1 billion in originally
invested capital. www.saintsvc.com
Contact:
Saints Capital
Melissa Biles and Jesse Odell
LaunchSquad
415-625-8555
saints(a)launchsquad(dot)com
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