Endocare says "no" to HealthTronics
This article was originally published in Clinica
Minimally-invasive tissue ablation specialist Endocare has snubbed HealthTronics' takeover bid, dismissing the $2.28-per-share offer as "inadequate". Irvine, California-based Endocare said its board of directors had carefully evaluated HealthTronics' unsolicited proposal, which was put forward on August 6 (see Clinica No 1319, p 13), but decided that it was not in the best interests of Endocare shareholders. HealthTronics, of Austin, Texas, has not commented on whether it will up its offer.