IRVINE, Calif., Oct. 15 Endocare, Inc.(Nasdaq: ENDO), an innovative medical device company focused on thedevelopment of minimally invasive technologies for tissue and tumor ablation,announced today that it has entered into an agreement with its former CEO PaulW. Mikus that terminates Mr. Mikus' indemnification agreement in exchange forEndocare's waiver of certain severance and legal fee reimbursement rights. Asa result of this new agreement, Endocare is no longer obligated to pay anyfuture legal costs for Mr. Mikus.
Endocare CFO Michael R. Rodriguez said, "This agreement brings to a closeour indemnification of former management and a long, expensive chapter forEndocare. It finally and immediately ends what has been a significant expenseand allows management to focus more completely on building our business."
Endocare had previously announced a similar agreement with its former CFO.For more information regarding the agreement with Mr. Mikus, please see therelated Form 8-K filed by Endocare today with the Securities and ExchangeCommission.
Endocare, Inc. -- http://www.endocare.com -- is an innovative medicaldevice company focused on the development of minimally invasive technologiesfor tissue and tumor ablation. Endocare has initially concentrated ondeveloping technologies for the treatment of prostate cancer and believes thatits proprietary technologies have broad applications across a number ofmarkets, including the ablation of tumors in the kidney, lung and liver andpalliative intervention (treatment of pain associated with metastases).Investor Contact: Media Contact: Matt Clawson Len Hall Allen & Caron, Inc. Allen & Caron, Inc. (949) 474-4300 (949) 474-4300 [email protected] [email protected]
http://www.allencaron.com http://www.allencaron.com For Additional Information: Terrence A. Noonan, Interim CEO Michael R. Rodriguez, CFO Endocare, Inc. (949) 450-5400 http://www.endocare.com
SOURCE Endocare, Inc.