Delaware Chancery Court Grants Galil Medical Ltd.'s Motion for Expedited Proceeding...

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Tue Jun 16, 2009 11:27am EDT

Delaware Chancery Court Grants Galil Medical Ltd.'s Motion for Expedited
Proceeding in Suit Against Endocare

YOKNEAM, Israel and PLYMOUTH MEETING, Pa., June 16 /PRNewswire/ -- On June 15,
2009, the Honorable William B. Chandler III, Chancellor for the State of
Delaware, granted Galil Medical Ltd.'s motion for an expedited trial in
Galil's recently-filed lawsuit against Endocare, Inc., arising out of
Endocare's alleged breach of the Galil/Endocare Merger Agreement.  The
Chancellor granted Galil's motion after oral argument, and ordered that a
two-day trial would be held on July 9 and 10 in Chancery Court in Georgetown,
Delaware.  Chancellor Chandler further indicated that he expected to issue a
judgment in the suit by July 13, 2009, the Monday following the conclusion of
the scheduled trial.  Under the expedited schedule, Endocare is required to
submit its answer to Galil's Complaint by June 19.  Moreover, the previous
termination date for the Galil/Endocare Merger Agreement (June 30) now has
been extended so that Galil and Endocare will have additional time to complete
their planned merger once the Chancellor rules.

Galil, a global cryotherapy company, filed the suit on June 9, 2009, to
enforce the merger agreement between Galil and Endocare announced in November
and to enjoin the proposed acquisition of Endocare by HealthTronics, Inc. 

Martin J. Emerson, President and CEO of Galil, stated that Galil welcomed the
Chancellor's decision to grant Galil's motion for an expedited trial.  He
stated that, "Galil remains committed to resolving this case as quickly as
possible, and then concluding our merger with Endocare.  The merger between
Galil and Endocare remains in the best interests of both companies, as well as
the interests of the doctors and patients we serve." 

About Galil Medical

Galil Medical develops, manufactures and markets innovative products utilizing
a proprietary cryotherapy platform that incorporates powerful freezing
technology and revolutionary 17-gauge cryoablation needle design. Galil
Medical's systems enable minimally invasive, targeted ablation of benign and
cancerous tumors while ensuring rapid recovery and enhanced quality of life
for patients. The Presice(TM) Cryoablation System features multi-point thermal
sensors (MTS) and advanced IceVue(TM) planning software for excellent
procedure control in treating prostate and renal cancer. The SeedNet MRI(TM)
system provides physicians with an easy-to-use cryoablation solution to
precisely ablate tumors while protecting adjacent structures, under MRI
guidance.

Galil Medical shareholders include Thomas, McNerney & Partners, The Vertical
Group, Investor Growth Capital, Elron Electronic Industries Ltd. and RDC
Rafael Development Corporation, Ltd. For more information, please visit
www.galilmedical.com.

SOURCE  Galil Medical Inc.

Martin J. Emerson, President and CEO of Galil Medical Inc., +1-484-530-3960,
Marty.Emerson@GalilMedical.com
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