Halt Medical, Inc., a Livermore, CA-based medical device company focused on women’s health, has closed on the first $20m of a $50m debt and equity financing.
The round was led by existing investor American Capital Strategies (ACAS), with participation from new unnamed investors. The company will be closing on another $10m during this quarter with the option for an additional $20m.
Founded in 2004 and led by CEO Jeff Cohen, and President & COO Russ DeLonzor, Halt Medical has developed a procedure and related equipment for treating uterine fibroids that is less expensive, more effective and less invasive than other alternatives – the Halt Global Fibroid Ablation (GFA) System for which FDA clearance is expected this year.
The company intends to use the funding to build out its commercial organization and launch its system in major markets around the world.