Hercules Technology Growth Capital to Realize Q1 Gain of Approximately $2.2-2.3M from Sale of Portfolio Company BÂRRX Medical

Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC) today announced that its portfolio company BÂRRX Medical, Inc., the leader in treatment of Barrett's esophagus syndrome using bipolar radiofrequency ablation devices, completed the sale of all of its outstanding shares on January 5, 2012, to Covidien plc (NYSE: COV) in a transaction valued at approximately $325.0 million.

In connection with the sale, Hercules expects to realize a net gain of approximately $2.2-$2.3 million in the first quarter of 2012 and a full repayment of Hercules' loan to BÂRRX Medical. This represents an internal rate of return of approximately 33.0% on Hercules' investment in BÂRRX Medical, Inc.