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Galil Medical Inc.
Galil Medical Announces Legal Response to Endocare and HealthTronics Actions
June 28th, 2009
Galil Medical Inc., a global cryotherapy company, announced that it has filed suit in Delaware court to enjoin the proposed acquisition of Endocare, Inc. by HealthTronics, Inc. Further, Galil has asked the court to enforce the merger agreement between Galil and Endocare. In an effort to justify its attempt to terminate the Galil/Endocare merger agreement, Endocare, in a June 5, 2009 letter to Galil, asserted that conditions to closing the merger had become incapable of fulfillment because the U.S. Federal Trade Commission ("FTC") had refused to close its ongoing investigation into the merger. Galil has rejected that assertion, and notes that discussions with the FTC...
Source: Pharma Investments, Ventures & Law Weekly (2009-06-28)
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