American Capital and its Affiliates Invest $20 Million in Portfolio Company Halt Medical
BETHESDA, Md., March 13, 2012 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) announced today that it has invested $11.7 million, $20 million together with its affiliates, in the debt and equity of portfolio company Halt Medical, Inc., a medical device company focused on women's health.
"American Capital is pleased to be supporting our portfolio company Halt Medical as it continues to grow its medical device business focused on treating uterine fibroids," said Gordon O'Brien, American Capital President, Specialty Finance and Operations. "Our additional investment will support the company as it moves forward with obtaining FDA approval for the surgical use of its products and the commercialization of its products for use in major global markets."
Founded in 2005, Halt Medical is a medical device company focused on women's health. The company 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. In June 2010, the U.S. Food and Drug Administration cleared the Halt 2000GI™ Electrosurgical System for soft tissue ablation using radiofrequency energy. The results of Halt's international studies have led to recent approvals for treating uterine fibroids in Canada and the European Union. The Halt System may be used for general surgical use in the U.S. The company recently completed a 137 patient IDE clinical trial at 11 sites in 3 countries to demonstrate clinical safety and efficacy in the treatment of symptomatic uterine fibroids. FDA clearance is expected this year. The Company is located in Livermore, CA.
"We are delighted that our long term investment partner American Capital is continuing to support Halt Medical through additional financing. Their financial resources will enable us to build out the commercial side of our business and expand our products' market presence in the U.S. and internationally as well as obtain FDA clearance for the treatment of uterine fibroids," said Jeff Cohen, Halt Medical Chief Executive Officer.
American Capital and an affiliate first invested in Halt Medical in May 2007. For more information about American Capital's investment in Halt Medical, please go to http://www.americancapital.com/our_portfolio/companies/halt_medical.html.
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. Founded in 1986, American Capital has $68 billion in assets under management and seven offices in the U.S. and Europe. American Capital and European Capital will consider investment opportunities from $10 million to $300 million. For further information, please refer to www.americancapital.com.
This press release contains forward-looking statements. The statements regarding expected results of American Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
Gordon O'Brien, President, Specialty Finance and Operations (301) 951-6122
SOURCE American Capital, Ltd.