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news.HealthTronics has made a proposal to the Endocare board of directors to acquire all of the outstanding common shares of Endocare for $2.28 for each outstanding common share of Endocare, payable in cash.
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The proposal is said to represent a 20% premium above Endocare’s closing stock price on August 6, 2008.
James Whittenburg, president and CEO of HealthTronics, said: “After carefully considering Endocare’s performance, balance sheet and comments during Endocare’s recent earnings call, HealthTronics believes that its proposal to purchase Endocare’s outstanding shares represents a significant premium that reflects HealthTronics’s unique ability to better leverage Endocare’s technology and assets.”