Boston Scientific sells off investment portfolio to raise cash

Interventional device developer Boston Scientific has signed an agreement to sell its investments in a portfolio of companies in order to focus on its core businesses and increase shareholder value, the Natick, MA-based company said.

Boston Scientific plans to sell the investments to Saints Capital of San Francisco, a secondary direct-investment firm; the transaction will raise pretax proceeds of more than $100 million.

The company also plans to sell investments in a portfolio of venture funds and companies to Paul Capital Partners, also of San Francisco, for pretax proceeds of $40 million.

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