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HealthTronics (HTRN) Commences Exchange Offer for Endocare, Inc. (ENDO) Shares



6/18/2009 9:53:54 AM

AUSTIN, Texas and IRVINE, Calif., June 17, 2009 (GLOBE NEWSWIRE) -- HealthTronics, Inc. ("HealthTronics") (Nasdaq:HTRN) and Endocare, Inc. ("Endocare") (Nasdaq:ENDO) announced today that HealthTronics has commenced an exchange offer for all of the outstanding shares of Endocare common stock pursuant to their previously-announced definitive agreement dated June 7, 2009. Subject to the terms and conditions of the exchange offer, Endocare stockholders who validly tender their shares may elect to receive for each share of Endocare common stock they tender in the exchange offer either (i) $1.35 in cash, without interest, provided that the cash consideration does not exceed 50% of the total consideration or (ii) 0.7764 of a share of common stock of HealthTronics, provided that the stock consideration does not exceed 75% of the total consideration, subject to adjustment and proration.

Read at GlobeNewswire


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