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01-07-14

Bahrain's Arcapita sells medical firm for USD450m

(MENAFN) Arcapita, an investment management firm headquartered in Bahrain, said its Arcapita Ventures I has recently sold USD450 million-worth medical device firm CardioMEMS, according to Arabian Business. CardioMEMS has been sold to the US-based St Jude Medical, which had previously invested USD60 million for a 19 percent shareholding of the company. It has now exercised an exclusive option to purchase the remaining 81 percent of the company, in a transaction valued in excess of USD450 million.