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Galil Medical Ltd. Sues HealthTronics for Interfering with the Galil/Endocare Merger Agreement
Date:6/22/2009

Galil Asks Delaware Chancery Court To Enjoin HealthTronics' Tender Offer For Endocare

YOKNEAM, Israel and PLYMOUTH MEETING, Pa., June 22 /PRNewswire/ -- Galil Medical Ltd., a global cryotherapy company, filed suit against HealthTronics, Inc., late yesterday in Delaware Chancery Court, asking the Court to enjoin HealthTronics from further interfering with a merger agreement between Galil and Endocare, Inc., and to order that HealthTronics pay damages to Galil for the harm it has suffered as a result of HealthTronics' tortious interference with Galil's rights under that agreement. In the suit, Galil alleges that Healthtronics helped Endocare in its recent attempt to wrongfully terminate the Galil/Endocare Merger Agreement so that HealthTronics could then acquire Endocare. Galil further alleges that, as a part of the scheme, HealthTronics agreed to cover Endocare's costs if Endocare ultimately is forced to pay a breakup fee to Galil because of its breach of the merger agreement, and notes that HealthTronics has embarked on a snap tender offer for Endocare shares, which will further harm Galil by sowing confusion and uncertainty among Endocare shareholders, and Galil's employees, customers, and suppliers. The HealthTronics tender offer is scheduled to expire on July 21, 2009.

The suit against HealthTronics follows Galil's recently-filed lawsuit against Endocare, Inc., which also arose out of Endocare's alleged breach of the Galil/Endocare Merger Agreement. Trial in that action presently is scheduled for July 9 and 10 in Chancery Court in Georgetown, Delaware.

Martin J. Emerson, President and CEO of Galil, stated that Galil brought this suit in an effort to stop HealthTronics from further tortuously interfering with Galil's merger with Endocare. He stated: "Galil looks forward to prevailing in these two lawsuits, and then getting back on the track of completing our merger with Endocare. A merge
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SOURCE Galil Medical
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