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.”