ST. LOUIS, May 19, 2023 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS) today announced a global collaboration with Abbott (NYSE: ABT) to integrate Abbott's EnSite X EP System with Stereotaxis' Robotic Magnetic Navigation systems.
The combination of Abbott's leading cardiac mapping system with Stereotaxis' advanced robotic technology brings together highly detailed real-time diagnostic information with the unprecedented precision and stability of robotics during therapy delivery. Technology integration enhances the physician experience, streamlines procedural workflow, and supports the improved treatment of patients with abnormal heart rhythms. Stereotaxis and Abbott have successfully completed integration of their technologies and performed testing demonstrating joint compatibility. The integrated technologies are cleared for use in Europe with additional regulatory clearances expected in the coming months.
"The combination of these two technologies is a seminal event for the community of physicians who have pioneered and championed robotics in electrophysiology," said Dr. J. Peter Weiss, electrophysiologist and clinical professor of medicine at Banner University of Arizona Medical Center. "Joint use of EnSite X with Robotic Magnetic Navigation is beneficial for the broad spectrum of cardiac ablation procedures and is most impactful in treating complex and challenging cardiac arrhythmias."
Millions of individuals worldwide suffer from arrhythmias - abnormal heart rhythms that result when the heart beats too quickly, too slowly, or with an irregular pattern. Left untreated, arrhythmias may significantly increase the risk of stroke, heart failure, and sudden cardiac arrest. Abbott's EnSite X System is the latest innovation available in cardiac mapping and received US FDA clearance in 2021. Robotic Magnetic Navigation introduces the benefits of robotic precision, stability and safety to cardiac ablation procedures using advanced computer-controlled magnetic fields for direct control of a catheter tip.
"Stereotaxis is delighted to collaborate with Abbott and to be able to share this significant milestone for the electrophysiology field," said David Fischel, Chairman and CEO of Stereotaxis. "This collaboration further reinforces our commitment to meaningful innovations that advance the frontiers of medical progress. It provides additional choice for the community of robotic users and ensures patients, physicians and providers can benefit from the combination of the finest diagnostic and therapeutic technologies."
About Stereotaxis
Stereotaxis (NYSE: STXS) is a pioneer and global leader in innovative surgical robotics for minimally invasive endovascular intervention. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, expand access to minimally invasive therapy, and enhance the productivity, connectivity, and intelligence in the operating room. Stereotaxis technology has been used to treat over 100,000 patients across the United States, Europe, Asia, and elsewhere. For more information, please visit www.stereotaxis.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially. Factors that would cause or contribute to such differences include, but are not limited to, the Company's ability to manage expenses at sustainable levels, acceptance of the Company's products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase its technology, competitive factors, changes resulting from healthcare policy, dependence upon third-party vendors, timing of regulatory approvals, the impact of pandemics or other disasters, and other risks discussed in the Company's periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company's control and may be revised, modified, delayed, or canceled.
Company Contacts:
David L. Fischel
Chairman and Chief Executive Officer
Kimberly Peery
Chief Financial Officer
314-678-6100
investors@stereotaxis.com
