Frazier Healthcare may seek representation on Endocare board

By Lisa Kerner

Charlotte, N.C., Jan. 4 - Endocare, Inc. investors led by Frazier Healthcare V, LP purchased a total of 1,697,563 shares, or 14.64%, of the company's common stock for about $11.83 million in a series of transactions between May 25, 2007 and Dec. 12.

While the reporting persons acquired the shares as an investment, they may "evaluate the possibility of an employee or other representative of Frazier Healthcare V being nominated for election to the board of directors" at Endocare's 2008 annual meeting, according to a schedule 13D filing with the Securities and Exchange Commission.

Located in Irvine, Calif., Endocare develops minimally invasive medical devices used for tissue and tumor ablation.

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