Endocare considering HealthTronics' offer in light of Galil agreement

By Lisa Kerner

Charlotte, N.C., May 28 - Endocare, Inc.'s board of directors said it is continuing to evaluate HealthTronics, Inc.'s offer to acquire the company for $1.25 per share made in April.

The company also announced that it has postponed the special meeting of Endocare stockholders that had been set for June 5.

A new meeting date will be announced, Endocare said.

In November, Galil Medical Ltd., an Elron Electronic Industries Ltd. group company, entered into a definitive agreement to acquire Endocare in a stock-for-stock transaction.

That deal is still on the table, according to Endocare.

Elron is a member of the IDB Holding group, an Israel-based technology holding company.

Located in Irvine, Calif., Endocare develops minimally invasive medical devices used for tissue and tumor ablation.

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