Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech

Acessa Health closes bankruptcy buyout of Halt Medical, raises $30M

June 26, 2017 By Brad Perriello

Acessa HealthAcessa Health said today that it closed the bankruptcy buyout of Halt Medical and promptly raised a Series A round worth $30 million.

The Acessa device is designed to treat uterine fibroids using radiofrequency ablation. Its successor namesake emerged after a Delaware federal bankruptcy judge earlier this month approved the bankruptcy sale, which was designed to keep the Acessa treatment on the market.

Today the company said it plans to use the first tranche of the Series A round to expand Acessa’s clinical portfolio, “develop next-generation technology and broaden commercial adoption of the Acessa procedure.”

“This is a great day for the millions of women currently suffering from symptomatic fibroids, who will now have access to a less invasive, uterine-sparing solution,” CEO Kim Bridges said in prepared remarks. “With substantial clinical and commercial momentum behind us, together with an exceptional investor base, Acessa is poised to improve the standard of care in a clinical segment that has not seen significant innovation in decades.”

Dr. Bruce Lee, who invented the technology, is joining Acessa Health as a medical advisor.

“This is an exciting new chapter for Acessa and the many millions of women around the world who suffer from symptomatic fibroids,” Lee added. “I’m thrilled to be part of the new Acessa Health team, advancing this important technology, and making the Acessa procedure available to women who stand to benefit from it.”

The Brentwood, Calif.-based women’s health company filed for Chapter 11 bankruptcy protection in April, citing assets valued at $2.2 million as of March 31 but liabilities of about $156.3 million, including a $497,000 severance payment to former chief executive Jeffrey Cohen.

Halt, which employs 17 workers, lined up an acquirer to float a $4 million bridge loan to sustain operations during the sale process to stalking horse bidder Acessa Health. Most employees will transfer to Acessa Health, leaving the Halt Medical shell behind for a Chapter 11 wind-down. The company is now located in Austin, Texas.

In February Halt logged a reimbursement win that extended coverage of Acessa under Medicaid to patients in Texas, Ohio, Michigan, Indiana and Washington, D.C.

Related Articles Read More >

A portrait of AcuityMD co-founder and CEO Michael Monovoukas
Device commercialization platform AcuityMD raises $31M Series A to fund R&D engineer hiring
Medtronic’s VC leader discusses risk, returns, strategy and an ‘ugly truth’
A portrait of Fictiv co-founder and CEO Dave Evans
Manufacturing matchmaker Fictiv raises $100M for supply chain push
Sterifre Medical prepares to launch its Aura desktop disinfection device

DeviceTalks Weekly.

May 20, 2022
DeviceTalks Boston Post-Game – Editors’ Top Moments, Insulet’s Eric Benjamin on future of Omnipod 5
See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Enewsletter Subscriptions

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech 100 Index
  • Medical Tubing + Extrusion
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to E-newsletter
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2022 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech