EDAP revamps HealthTronics termination agreement
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.
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.