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PALO ALTO, Calif.--([ BUSINESS WIRE ])--Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), a leader in customized debt financing for entrepreneurial venture-backed companies in technology-related markets including cleantech, life sciences and high technology, today announced that its portfolio companyB'RRX Medical, Inc., the leader in treatment of Barrett's esophagus syndrome using bipolar radiofrequency (RF) ablation devices, completed the sale of all of its outstanding shares onJanuary 5, 2012, toCovidien plc(NYSE:COV) in a transaction valued at approximately$325.0 million.

"We congratulate the B'RRX Medical management team on this impressive achievement and expect that the acquisition will only improve on the unique advancements that they have delivered to doctors and patients all over the world"

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

aWe congratulate the B'RRX Medical management team on this impressive achievement and expect that the acquisition will only improve on the unique advancements that they have delivered to doctors and patients all over the world,a saidManuel A. Henriquez, president and CEO of Hercules. aWe are pleased that Hercules' customized debt solutions helped play an important role in accelerating B'RRX Medicalas business and reach a successful exit by joining a great company like Covidien plc. This exit is a positive outcome for our shareholders.a

About Hercules Technology Growth Capital, Inc.

Hercules Technology Growth Capital (NASDAQ: HTGC), is a leader customized debt financing for entrepreneurial venture-backed companies in technology-related markets including cleantech, life sciences and high technology. The company has committed more than $2.7 billion to over 190 companies and is the lender of choice for entrepreneurs, venture capital and private equity firms seeking ideal, customized growth capital financing at all stages of a companyas development to accelerate business growth and reach the next critical milestone.

Companies interested in learning more about financing opportunities should contact [ info@htgc.com ], or call 650.289.3060.

Forward-Looking Statements

The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market, and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.