A Delaware federal bankruptcy judge yesterday approved the bankruptcy sale of Halt Medical Halt Medical designed to keep its Acessa uterine fibroid treatment on the market.
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.
