Halt Medical, a healthcare products manufacturer based in Las Vegas, Nevada, announced that it had successfully raised $15 million in its latest financing round. According to a press release by the company, funds from the round will be used to pursue commercialization of its Acessa System, an FDA-approved hysterectomy alternative for women suffering from uterine fibroids. American Capital led the latest round of financing.
According to information from the company, the Acessa System can be used to accurately target uterine fibroids to deliver radiofrequency energy. Use of the Acessa System only requires a minimally-invasive operation.
Jeff Cohen is the CEO of Halt Medical. In prepared remarks, he said, "We are delighted that American Capital, has chosen to once again lead financing for this critical new medical device," He continued, "Furthermore, there was significant participation by existing investors, validating our work to address one of the largest unmet needs in women's health worldwide."
In November of 2012, the United States Food and Drug Administration granted clearance for the company’s Acessa System. According to the Centers for Disease Control, fibroids are the leading cause of hysterectomy procedures.
During a traditional fibroid operation, surgeons must cut into healthy tissues to gain access to access fibroid tumors. In some cases, a woman’s uterus must be completely excised. With Acessa, a minimally-invasive outpatient procedure can be used to treat fibroids.