Endocare Reviews Buyout Offer from HealthTronics
HealthTronics submitted an unsolicited offer to purchase Endocare. The offer is a $26.9 million cash buyout and is a 20 percent premium over the current stock price. The Boston Globe published news of the offer. Endocare announced, in a press release, plans to consider the offer.
HealthTronics made the offer in an effort to expand their portfolio of treatment offerings. The company primarily specializes in the development of products used in the urology setting. One of the products is indicated to treat patients with prostate cancer.
Endocare, alternatively, develops tools for cryoablation procedures. Two diseases that the company’s tools are used to treat are renal and prostate cancer.
August 8, 2008 Related topics: Contract Awards