Halt Medical gets approval to sell assets to Acessa Health affiliate

By Caroline Salls

Pittsburgh, June 8 – Halt Medical, Inc. received court approval to sell its assets to an affiliate of Acessa Health, Inc., according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company said it received no other qualified bids by the June 2 deadline.

The Acessa Health affiliate agreed in a stalking horse bid to credit bid the amount of the company’s debtor-in-possession financing and, in the bidder’s discretion, an amount not to exceed the company’s outstanding senior secured promissory note obligations.

The stalking horse bidder will also pay $150,000 in cash and assume related liabilities.

Brentwood, Calif.-based medical device company Halt Medical focuses on providing care for women with symptomatic uterine fibroids, including through its patented Acessa System. The company filed bankruptcy on April 12 under Chapter 11 case number 17-10810.

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