×

Stereotaxis and Philips Extend Development Collaboration to Interface Latest Systems

ST. LOUIS and BEST, The Netherlands, Jan. 26, 2016 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (NASDAQ:STXS) today announced Stereotaxis and Philips have signed an addendum pursuant to their existing Development and Cooperation Agreement to facilitate development of a new interface between each company’s most advanced systems for electrophysiology (EP) and interventional cardiology procedures. The new interface will enable interoperability of Stereotaxis’ Niobe® ES remote magnetic navigation system with the latest version of Philips’ cardiovascular X-ray system, Allura Xper FD10*. This new interface is expected to be available in major global markets in 2016.

“The new interface between our Niobe ES system and the latest generation cardiovascular X-ray system from one of the imaging industry’s leaders will be a powerful combination of products for our customers,” said William C. Mills, Stereotaxis Chief Executive Officer. “We have been aligned with Philips for more than a decade in delivering cutting-edge solutions that ensure effective procedures while optimizing clinician comfort and efficiency in the cardiac cath lab. Partnering with industry leaders to develop key enabling solutions has been an integral part of our ongoing commitment to evolving our magnetic navigation platform for improved performance.”

“As one of the leading system integrators in image-guided therapies, we are collaborating with industrial partners to complement our portfolio of interventional imaging, devices and navigation solutions,” said Ronald Tabaksblat, Business Leader Image-Guided Therapy Systems at Philips. “The collaboration with Stereotaxis broadens our ability to provide our customers with advanced imaging and navigation solutions for electrophysiology procedures that are seamlessly integrated into our interventional labs with the aim to make such procedures more effective and easier to perform.”

The latest release of the Philips’ Allura Xper FD10 system is a ceiling-suspended cardiovascular X-ray system widely used for EP and other cardiac interventions. The system offers rotational scan capabilities to produce high-resolution, 3D impressions of cardiac anatomy. It features low dose X-ray, storage and retrieval of multi-modality cardiology information from a central workstation, and high quality visualization of the position of catheters in real-time.

About Stereotaxis
Stereotaxis is a healthcare technology and innovation leader in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional lab. Over 100 issued patents support the Stereotaxis platform, which helps physicians around the world provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced integration of procedural information. Stereotaxis' core Epoch® Solution includes the Niobe® ES remote magnetic navigation system, the Odyssey® portfolio of lab optimization, networking and patient information management systems, and the Vdrive® robotic navigation system and consumables.

The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Canada, China, Japan, and elsewhere. The V-Sono ICE catheter manipulator, V-Loop variable loop catheter manipulator, and V-CAS catheter advancement system have received clearance in the United States, Canada, and the European Union. 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 from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, Stereotaxis' ability to raise additional capital on a timely basis and on terms that are acceptable, its ability to continue to manage expenses and cash burn rate at sustainable levels, its ability to continue to work with lenders to extend, repay or refinance indebtedness on acceptable terms, continued acceptance of Stereotaxis' products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase its systems and the timing of such purchases, competitive factors, changes resulting from the recently enacted healthcare reform in the U.S., including changes in government reimbursement procedures, dependence upon third-party vendors, timing of regulatory approvals, and other risks discussed in Stereotaxis' periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, Stereotaxis undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that Stereotaxis will recognize revenue related to its purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of Stereotaxis' control. In addition, these orders and commitments may be revised, modified, delayed or canceled, either by their express terms, as a result of negotiations, or by overall project changes or delays.

* The Philips Allura Xper FD10 version R8.2 system

STXS Company Contact: Martin Stammer Chief Financial Officer 314-678-6155

Source:Stereotaxis, Inc.