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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): August 28, 2008</B>

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<P align="center" style="font-size: 24pt"><B>TOPSPIN MEDICAL, INC.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

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    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>333-144472</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>510394637</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Global Park<BR>2 Yodfat Street, Third Floor<BR>North Industrial Area<BR>Lod 71291<BR>Israel<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>Not Applicable</B></TD>
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<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>972-8-9200033</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.02. Termination of a Material Definitive Agreement.</B>


<P align="left" style="font-size: 10pt; text-indent: 8%">On August&nbsp;28, 2008, we and our wholly owned subsidiary, TopSpin Medical (Israel) Ltd., agreed to terminate our
existing agreement with Top Medical B.V. (a copy of which was previously filed as an exhibit Form SB-2 (Registration
No.&nbsp;333-142242) filed on April&nbsp;20, 2007), pursuant to which Top Medical B.V. served as the exclusive distributor and
marketer of our intravascular MRI catheter system in the Netherlands, Belgium and Luxembourg. We elected to terminate
this distribution agreement in connection with the shift in our business focus away from intravascular MRI catheters
and towards applications of our technology in the field of urology. In connection with the termination, Top Medical
B.V. will return all consoles and unused catheters previously rented and purchased and we agreed to make a final
payment of $14,500, which represents the value of the returned equipment less the amount owed to us by Top Medical
B.V.


<P align="left" style="font-size: 10pt; text-indent: 8%">A copy of the termination agreement is attached hereto as Exhibit&nbsp;99.1 and is incorporated herein by reference.
The foregoing description of the termination agreement is qualified in its entirety by reference to the full text of
that agreement.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>


<P align="left" style="font-size: 10pt">(d)&nbsp;The following exhibit is furnished with this Form 8-K:

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Termination Agreement by and between TopSpin Medical (Israel)
Ltd. and Top Medical B.V., dated August&nbsp;28, 2008</TD>
</TR>
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 8%">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 hereunto duly authorized.

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    <TD nowrap align="left" colspan="2"><B>TOPSPIN MEDICAL, INC.</B><br><br></TD>
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<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: September&nbsp;3, 2008
</DIV></TD>
    <TD>By:</TD>
    <TD align="left" valign="top"> <B>/</B>s/ Tami Sharbit-Bachar&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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&nbsp;</DIV></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Tami Sharbit-Bachar<br>
Title: Director of Finance and Secretary</TD>
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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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    <TD width="8%">&nbsp;</TD>
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    <TD nowrap align="left" colspan="3" style="border-bottom: 0px solid #000000"><B>Exhibit</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Termination Agreement by and between TopSpin Medical (Israel) Ltd.
and Top Medical B.V., dated August&nbsp;28, 2008</TD>
</TR>
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<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">4




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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 28, 2008
TOPSPIN MEDICAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
333-144472
510394637
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
Global Park
2 Yodfat Street, Third Floor
North Industrial Area
Lod 71291
Israel
Not Applicable
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
972-8-9200033
Not Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02. Termination of a Material Definitive Agreement.
On August 28, 2008, we and our wholly owned subsidiary, TopSpin Medical (Israel) Ltd., agreed to terminate our
existing agreement with Top Medical B.V. (a copy of which was previously filed as an exhibit Form SB-2 (Registration
No. 333-142242) filed on April 20, 2007), pursuant to which Top Medical B.V. served as the exclusive distributor and
marketer of our intravascular MRI catheter system in the Netherlands, Belgium and Luxembourg. We elected to terminate
this distribution agreement in connection with the shift in our business focus away from intravascular MRI catheters
and towards applications of our technology in the field of urology. In connection with the termination, Top Medical
B.V. will return all consoles and unused catheters previously rented and purchased and we agreed to make a final
payment of $14,500, which represents the value of the returned equipment less the amount owed to us by Top Medical
B.V.
A copy of the termination agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The foregoing description of the termination agreement is qualified in its entirety by reference to the full text of
that agreement.
Item 9.01. Financial Statements and Exhibits.
(d) The following exhibit is furnished with this Form 8-K:
Exhibit No.
Description
99.1
Termination Agreement by and between TopSpin Medical (Israel)
Ltd. and Top Medical B.V., dated August 28, 2008
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 hereunto duly authorized.
TOPSPIN MEDICAL, INC.
Date: September 3, 2008
By:
/
s/ Tami Sharbit-Bachar
Name: Tami Sharbit-Bachar
Title: Director of Finance and Secretary
EXHIBIT INDEX
Exhibit
Number
Description
99.1
Termination Agreement by and between TopSpin Medical (Israel) Ltd.
and Top Medical B.V., dated August 28, 2008