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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6 K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
EDAP TMS S.A. Files
Press release on termination agreement with HealthTronics
April 12, 2007
EDAP TMS S.A.
Parc Activite La Poudrette Lamartine
4/6 Rue du Dauphine
69120 Vaulx-en-Velin - France
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
This report on Form 6-K with respect to the Company's 2006 annual results, is
hereby incorporated by reference in the registration statement of EDAP TMS S.A.
on Form F-3, file number 333-136811.
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Comments CGSH
CONTACT: EDAP TMS S.A. Magnolia Investor Relations
Blandine Confort Matt Kreps
+33 4 78 26 40 46 972 801 4900
FOR IMMEDIATE RELEASE
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EDAP ANNOUNCES DETAILS ON TERMINATION AGREEMENT WITH HEALTHTRONICS
Lyon, France, April 12, 2007 - EDAP TMS S.A. (Nasdaq: EDAP), the global leader
in High Intensity Focused Ultrasound (HIFU) treatment of prostate cancer and the
international leader in the development, production, and distribution of a wide
portfolio of minimally invasive medical devices primarily for the treatment of
urological diseases releases supplemental details on the conclusion of its
Distribution Agreement with HealthTronics.
EDAP TMS announced that it has entered into an agreement with HealthTronics
Surgical Services, Inc. to terminate its 2004 distribution agreement with
HealthTronics originally entered into in February 2004 to pursue FDA approval of
EDAP's Ablatherm-HIFU device for use in the United States.
Pursuant to the terms of the termination agreement,
o On April 4, 2007, HealthTronics exercised 200,000 warrants granted under
the distribution agreement to acquire an equal number of EDAP's shares,
paying an aggregate exercise price of $300,000. The 600,000 remaining
warrants granted under the distribution agreement were cancelled. EDAP also
agreed to file a registration statement under the Securities Act of 1933 to
enable HealthTronics to resell its shares in transactions that are
registered under the Securities Act.
o HealthTronics agreed to pay EDAP $600,000 after the resale registration
statement has been effective for 60 days. EDAP may also receive additional
cash compensation based on a formula related to the price at which
HealthTronics resells the EDAP's shares in the future.
o HealthTronics agreed to transfer to EDAP one Ablatherm device and six
lithotripters previously acquired by HealthTronics, and to return two
Ablatherm devices already owned by EDAP. The transfer of these devices is
part of the overall termination transaction and their value is included in
the estimated transaction value.
The relevant EDAP parties and HealthTronics parties released each other from
liabilities arising under the terminated distribution agreement, and agreed to
indemnify each other for breaches of the termination agreement and certain
liabilities arising from any claims related to the use of the Ablatherm-HIFU
device and the conduct of the clinical study evaluating the Ablatherm-HIFU
device.
ABOUT EDAP TMS S.A.
EDAP TMS S.A. develops and markets Ablatherm, the most advanced and clinically
proven choice for High Intensity Focused Ultrasound (HIFU) treatment of
localized prostate 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 prostate
cancer (stages T1-T2) who are not candidates for surgery or who prefer an
alternative option, or for patients who failed radiotherapy treatment. The
company is also developing this technology for the potential treatment of
certain other types of tumors. EDAP TMS S.A. also produces and 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 at
(972) 801-4900, the Corporate Investor Relations Dept at +33 (0)4 78 26 40 46 or
see the Company's web sites at http://www.edap-tms.com and
http://www.hifu-planet.com.
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http://www.b2i.us/irpass.asp?BzID=1053&to=ea&s=0
In addition to historical information, this press release contains
forward-looking statements that involve risks and uncertainties. These include
statements regarding the Company's growth and expansion plans. Such statements
are based on management's current expectations and are subject to a number of
uncertainties and risks that could cause actual results to differ materially
from those described in these forward-looking statements. Factors that may cause
such a difference include, but are not limited to, those described in the
Company's filings with the Securities and Exchange Commission. Ablatherm-HIFU
treatment is in clinical trials but not yet FDA approved or marketed in the
United States.
This press release does not constitute an offer to sell, or a solicitation of an
offer to buy, any securities of EDAP TMS S.A. in the United States or any other
jurisdiction.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: April 12, 2007
EDAP TMS S.A.
/s/ MARC OCZACHOWSKI
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MARC OCZACHOWSKI
CHIEF EXECUTIVE OFFICER