This Day On The Street
Continue to site
ADVERTISEMENT
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

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 Acessaâ„¢ 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs