EDAP revamps HealthTronics termination agreement

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High-intensity focused ultrasound developer EDAP reported that it has updated its termination agreement with Austin, Texas-based urology device manufacturer HealthTronics. The Lyon, France-based EDAP originally entered into a termination agreement with HealthTronics on April 3 this year.

Under the amended agreement, HealthTronics terminated its obligation to pay EDAP any additional amounts in excess of $600,000. Under the prior agreement, HealthTronics agreed to pay EDAP certain additional amounts in excess of $600,000 based on a formula related to the price at which HealthTronics resells its registered 200,000 EDAP shares.