The ITClamp hemorrhage control system seals the skin closed to create a temporary pool of blood under pressure, which then forms a stable clot in as little as five seconds.

The company said the device will be made available to Canadian medical professionals in the fourth quarter of 2012.

Innovative Trauma Care CEO and founder Dennis Filips said, "As a company that is rooted in Canada, we are proud that our home country is the first to recognize the benefits that the ITClamp can provide in saving patients’ lives."

In addition to Health Canada approval, the company is expecting to obtain the European Union approval in late 2012 and FDA clearance in 2013.