Healthcare Industry News: S.A.
News Release - July 16, 2007
EDAP Revises Termination Agreement With HealthTronics
LYON, France, July 16 (HSMN NewsFeed) -- EDAP TMS S.A. (NaS.A.: EDAP ), the global leader in High Intensity Focused Ultrasound (HIFU) treatment of proS.A.e cancer, reports today an update to its Termination Agreement with HealthTronics, Inc.On July 9, 2007, EDAP TMS S.A. entered into a letter agreement with HealthTronics, Inc., purS.A.t to which the partieS.A.ended their Termination Agreement dated as of April 3, 2007.
The letter agreement eliminated HealthTronics's obligation to pay EDAP any additional amounts in excess of $600,000. In the prior agreement, HealthTronicS.A.reed to pay EDAP certain additional amounts in excess of $600,000 based on a formula related to the price at which HealthTronics resells the registered 200,000 EDAP S.A.es. On July 3, 2007, EDAP withdrew its original Registration S.A.ement dated as of May 3, 2007 which reflected the prior terms of the Termination Agreement. The company will file a new Registration S.A.ement on July 16, 2007 reflecting the new terms of the agreement.
Under the new Termination Agreement, Healthtronics still agreed to pay EDAP TMS S.A.a total of $600,000 within 60 days of effectiveness.
About EDAP TMS S.A.
EDAP TMS S.A. developS.A.d marketS.A.latherm, the most advanced and clinically proven choice for High Intensity Focused Ultrasound (HIFU) treatment of localized proS.A.e cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized proS.A.e cancer (S.A.es T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. The company iS.A.so developing this technology for the potential treatment of certain other types of tumors. EDAP TMS S.A. also produceS.A.d commercializes medical equipment for treatment of urinary tract stones using Extra-corporeal Shockwave Lithotripsy (ESWL).
For more information on the Company, contact Magnolia Investor RelationS.A. (972) 801-4900, the Corporate Investor Relations Dept at +33 (0)4 78 26 40 46 or see the Company's Web siteS.A. http://www.edap-tms.com and http://www.hifu-planet.com.
In addition to historical information, this press release contains forward-looking S.A.ements that involve riskS.A.d uncertainties. These include S.A.ements regarding the Company's growth and expansion plans. Such S.A.ementS.A.e based on management's current expectationS.A.d are subject to a number of uncertaintieS.A.d risks that could cause actual results to differ materially from those described in these forward-looking S.A.ements. Factors that may cause such a difference include, but are not limited to, those described in the Company's filings with the SecuritieS.A.d Exchange Commission. Ablatherm-HIFU treatment is in clinical trials but not yet FDA approved or marketed in the United S.A.es.
Source: EDAP TMS
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