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EXHIBIT 10.26

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                              CONSULTING AGREEMENT
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                                                       Date: July 26, 1999

NOVOSTE:    NOVOSTE CORPORATION
            3890 Steve Reynolds Blvd.
            Norcross, Georgia 30093

Name of Consultant: Charles E. Larsen

SSN: ###-##-####

Address:    Charles E. Larsen
            6080 Cherokee Trace
            Cumming, GA 30131

Telephone:  (770) 844-8985

Name and Address of Novoste Contact:

            William A. Hawkins
            3890 Steve Reynolds Blvd.
            Norcross, GA 30093

Term of Consulting Service: From May 03, 1999 to May 03, 2000.

Novoste and Consultant agree:

1.    Scope of Work

      Consultant will perform the consulting services for Novoste Corporation
      ("Novoste") described as follows and in attached Schedule 1 (the
      "Services"):

      o     Consultant will provide the same types of services he provided while
            employed at Novoste as Chief Technical Officer. These include, but
            are not limited to, the job functions listed in Novoste's 1999 Job
            Description for the position Chief Technical Officer, which is
            attached hereto as Schedule 1.

      o     Consultant's main responsibilities will be in assisting the
            research, design and development efforts at Novoste. However,
            Consultant's experience and expertise in the Medical Device Industry
            may be utilized with respect to other aspects of the business.

      o     Also, Consultant will assist with administering the maintenance of
            Novoste's facilities.

                                                                     99-0016-CSA

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2.    Compensation

      Novoste will pay Consultant a consulting fee in the amount and on the
      terms set forth below:

      o     As compensation for Services, Novoste will pay Consultant relatively
            equal payments on a biweekly basis, the combined total for a year of
            such payments (26 payments) being one hundred forty thousand dollars
            ($140,000.00).

      o     Reasonable expenses and travel expenses, including meals,
            transportation, and housing, incurred during performance of the work
            as specified under this agreement will be reimbursed by Novoste.
            Additionally, Novoste will provide Consultant with a computer and
            adequate work space during the term of this Agreement.

      o     For the consulting fee of $140, 000.00 per year, Consultant will be
            expected to work a yearly average of approximately forty (40) hours
            per month.

      o     Consultant is not an employee of Novoste and will not receive any
            benefits other than the above defined consulting fee and reimbursed
            expenses. Thus, Consultant is not eligible for participation in the
            Novoste Employee Bonus Plan or the Novoste 401(k) Plan and does not
            benefit from Health Care Insurance, Life & Accidental Death or
            Dismemberment Insurance, and Long-term Disability Insurance provided
            by Novoste to its employees.

3.    Manner of Performance

      (a)   This agreement is binding on Consultant, an individual named Charles
            E. Larsen. Consultant represents that Consultant has the requisite
            expertise, ability and legal right to render the Services and will
            perform the Services in an efficient manner. Consultant will abide
            by all laws, rules and regulations that apply to the performance of
            the services, including applicable requirements regarding equal
            employment opportunity and the provisions of any Executive Orders
            and related rules. Consultant when on Novoste's premises will comply
            with Novoste's policies with respect to conduct of visitors.

      (b)   Consultant may retain third parties to assist in the rendering of
            Services only upon approval by Novoste and only upon written
            agreement by such third parties, a copy of which shall be provided
            to Novoste, that they agree to be bound by all the terms and
            conditions of this agreement as if Consultant hereunder.

4.    Confidentiality

      In the course of this agreement, it is anticipated that Consultant will
      learn of information that Novoste regards as confidential or proprietary.
      Consultant will keep confidential this information and any other
      information which Consultant may acquire with respect to Novoste's
      business, including, but not limited to, information developed by
      Consultant and information relating to new products, customers, pricing

                                                                     99-0016-CSA

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      know-how, processes, and practices, unless and until Novoste consents in
      writing to disclosure, or unless such knowledge and information otherwise
      becomes generally available to the public through no fault of Consultant.
      Consultant will not disclose to others, without Novoste's written consent,
      the fact that it is acting on behalf of Novoste and will not publish on
      the subject of this consulting relationship without first providing
      Novoste with the opportunity to review and offer reasonable objection to
      the contemplated publication. This undertaking to keep information
      confidential will survive the termination of this agreement. At the
      termination of this agreement, Consultant will return to Novoste all
      physical specimens, devices, and prototypes, and all drawings,
      specifications, manuals and other printed or reproduced material
      (including information stored on machine readable media) provided by
      Novoste to Consultant and all copies of such information made by
      Consultant.

5.    Conflicts of Interest

      Consultant represents that it has advised Novoste in writing prior to the
      date of signing this agreement of any relationship with third parties,
      including competitors of Novoste, which would present a conflict of
      interest with the rendering of the Services, or which would prevent
      Consultant from carrying out the terms of this agreement or which would
      present a significant opportunity for the disclosure of confidential
      information. Consultant will advise Novoste of any such relationships that
      arise during the term of this agreement. Novoste will then have the option
      to terminate this agreement without further liability to Consultant,
      except to pay for Services actually rendered.

      Consultant has advised Novoste that in addition to being an independent
      consultant for Novoste, Consultant separately owns, operates and is an
      employee of The Innovation Factory, LLC, a company located at 4350-A,
      International Blvd., Norcross, GA 30093. Consultant declares that The
      Innovation Factory does not present a conflict of interest and
      furthermore, is not and will not be engaged in the development,
      management, manufacture, distribution or sale of Radiotherapy products or
      services during the term of this Agreement and for at least one year
      thereafter.

6.    Relationship with Others

      During the term of this agreement and for one year after its termination
      date, Consultant will not perform services in the specific area in which
      Consultant actually has consulted under this agreement for any other
      entity engaged in the development, management, manufacture, distribution
      or sale of Radiotherapy products or services.

7.    Independent Contractor

      Consultant is an independent contractor, not an employee of Novoste; and
      nothing in this Consulting Agreement shall render Consultant an employee
      of Novoste. Although Consultant is an independent contractor and not an
      employee of Novoste, Novoste will be responsible for deducting from
      Consultant's paychecks all federal, state, and local income taxes and
      Social Security contributions.

                                                                     99-0016-CSA

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8.    Ownership of Developments

      All written materials and other works which may be subject to copyright
      and all patentable and unpatentable inventions, discoveries, and ideas
      (including but not limited to any computer software) which are made,
      conceived or written by Consultant during the term of this agreement, and
      for 90 days after it expires, and which are based upon the Services
      performed by Consultant for Novoste ("Developments") shall become
      Novoste's property. Consultant represents and warrants that Consultant's
      employer, The Innovation Factory, has no ownership, license or other
      rights to the aforementioned Developments, and Consultant is under no
      obligation to assign, license or transfer rights to the aforementioned
      Developments to Consultant's employer, The Innovation Factory.

      Consultant agrees to hold all Developments confidential in accordance with
      paragraph 4 of this agreement.

9.    Disclosure and Transfer of Developments

      Consultant will disclose promptly to Novoste each Development and, upon
      Novoste's request and at Novoste's expense, Consultant will assist
      Novoste, or anyone it designates, in filing patent or copyright
      applications in any country in the world. Each copyrightable work, to the
      extent permitted by law, will be considered a work made for hire and the
      authorship and copyright of the work shall be in Novoste's name.

      Consultant will execute all papers and do all things which may be
      necessary or advisable, in the opinion of Novoste, to process such
      applications and to vest in Novoste, or its designee, all the right, title
      and interest in and to the Developments. If for any reason Consultant is
      unable to effectuate a full assignment of any Development, Consultant will
      transfer to Novoste, or its designee, its transferable rights, whether
      they be exclusive or nonexclusive, or as a joint inventor or partial owner
      of the Development.

10.   Disclosures to Novoste

      If during the term of this agreement, Consultant discloses any
      copyrightable works, inventions, discoveries, or ideas to Novoste which
      were conceived or written prior to this agreement or which are not based
      upon the Services performed by consultant for Novoste under this
      agreement, Novoste will have no liability to Consultant because of its use
      of such works, inventions, discoveries or ideas.

11.   Term

      The term of this agreement is as specified on the first page of this
      agreement, but in no event will the term of this agreement extend beyond
      three years from the date of this agreement.

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12.   Termination

      Novoste may terminate this Consulting Agreement effective the day of
      notice by giving Consultant written notice of termination if Consultant:
      (a) breaches any of its obligations under Paragraphs 4,6, 8 or 9 of the
      agreement; or (b) fails to provide the standard of performance of Services
      that substantially meets Novoste's reasonable expectations; or (c) fails
      at any time to provide the contracted services defined in section 1,
      section 2 and schedule 1 of this agreement. If Novoste determines that it
      no longer requires the services of Consultant it may terminate this
      agreement by giving Consultant thirty (30) days written notice.

13.   General

      No assignment by Consultant of this agreement or any sums due under it
      will be binding on Novoste without Novoste's prior written consent. This
      agreement supersedes all prior agreements and understandings between the
      parties respecting the subject matter of this agreement, with the
      exception of Agreements signed between Consultant and Novoste as a
      condition of Consultant's previous employment with Novoste. This agreement
      may not be changed or terminated orally by or on behalf of either party
      and nothing in any attachments or schedules to this agreement may vary the
      terms of this agreement.

      In the event the terms of any attachments or schedules are inconsistent
      with the terms of the numbered paragraphs of this agreement, the terms of
      the numbered paragraphs of this agreement shall control.

      In the event either party breaches this agreement, the other party will
      have the right to terminate the agreement. In the event of the actual or
      threatened breach of any of the terms of paragraphs 4, 6, 8, and 9,
      Novoste will have the right to specific performance and injunctive relief.
      The rights granted by this paragraph are in addition to all other remedies
      and rights available at law or in equity.

      This agreement shall be construed according to the laws of Georgia for
      contracts made within that state.

      The undersigned warrant and represent that they have authority to enter
      this agreement on behalf of Novoste or Consultant, respectively.

NOVOSTE CORPORATION                     CONSULTANT


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William A. Hawkins, President & CEO     Charles E. Larsen

Date: _____________________________     Date: __________________________________

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