This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Halt Medical Announces Financing To Support Commercialization Of Newly FDA Cleared Medical Device To Treat Uterine Fibroids

LIVERMORE, Calif., Jan. 2, 2013 /PRNewswire/ -- Halt Medical, Inc. announced today that it has received $15 million of financing to support commercialization of the Acessa™ System, a newly FDA cleared medical device to treat uterine fibroids.

(Logo: http://photos.prnewswire.com/prnh/20130102/LA35495LOGO )

"We are delighted that American Capital, Ltd. has chosen to once again lead financing for this critical new medical device," stated Jeff Cohen, Halt Medical Chief Executive Officer.  "Furthermore, there was significant participation by existing investors, validating our work to address one of the largest unmet needs in women's health worldwide." 

Acessa System is a revolutionary new medical technology for treating millions of women suffering from uterine fibroids.  Acessa is the only medical device that can be used by gynecologists to treat all fibroid symptoms and types.  According to the Centers for Disease Control, fibroids are the leading cause for hysterectomy procedures worldwide.  It's estimated that 97% of women with fibroids choose to suffer with their symptoms rather than having their uterus removed.  Acessa is used in a minimally invasive same-day surgery procedure where a slender Handpiece is used to deliver radiofrequency energy to the fibroid, after which the fibroid is re-absorbed by the surrounding tissue.

In traditional fibroid surgery, layers of healthy tissue are cut through to gain access to the tumor or the uterus is removed entirely.  This can lead to complications, significant pain, long recovery times and infertility.   Acessa treats just the fibroids, preserving the normal function of the uterus.  Patients typically go home the same day with little pain and experience rapid recovery and return to normal activities.  Acessa is already being used to treat women at medical centers in Canada and Europe with outstanding results from three clinical studies.

"We continue to be very excited about our investments in Halt Medical and the positive impact we will make in the field of women's healthcare," stated Malon Wilkus, American Capital Chief Executive Officer.  "The high patient satisfaction and low re-intervention rates seen in Halt Medical's clinical studies provides the opportunity for the healthcare system to replace radical surgery, save billions of dollars and, most importantly, relieve debilitating pain in millions of women." 

ABOUT HALT MEDICAL, INC.

Founded in 2004, Halt Medical is a medical device company focused on establishing a new standard of care for women with symptomatic uterine fibroids. The Company has developed and launched the Acessa System and Procedure, using radiofrequency energy to destroy uterine fibroids. The results of both U.S. and international trials have led to the clearance of the product by the FDA for use in percutaneous, laparoscopic coagulation and ablation of soft tissue, including treatment of symptomatic uterine fibroids under laparoscopic ultrasound guidance. As well, the System has CE marking in the European Union and is licensed for sale in Canada. The Company is located in Brentwood, CA.  For information about the Acessa System, please visit www.haltmedical.com.

ABOUT AMERICAN CAPITAL

American Capital is a publicly traded private equity firm and global asset manager.  American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products.  American Capital manages $18.6 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $118 billion of total assets under management (including levered assets).  From its seven offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $500 million.  For further information, please refer to www.AmericanCapital.com.

SOURCE Halt Medical, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,077.57 -35.97 -0.21%
S&P 500 1,984.05 +0.52 0.03%
NASDAQ 4,463.0030 +6.9870 0.16%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs