Endocare plans $16 million private placement of shares

By Devika Patel

Knoxville, Tenn., Nov. 11 - Endocare, Inc. said it plans a $16 million private placement of stock.

The financing will close after the company's completed merger with Galil Medical Ltd., which is expected to settle in the first quarter of 2009.

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

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