ST. LOUIS, Mo., Oct. 4, 2012 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (Nasdaq:STXS) today announced that for the second consecutive quarter it has secured orders from hospitals looking to advance robotic research and support procedure growth through installation of a second Niobe® ES system.
Two of the total Niobe ES orders received in the third quarter of 2012 were for second systems from thought-leading hospitals in Europe. An early adopter of Stereotaxis technology in North America also ordered a second Niobe ES system in June 2012.
"The trend in second system sales is an indication of the value we are delivering through the Epoch™ platform, as well as the expanding utilization of our technology," said Michael P. Kaminski, President and Chief Executive Officer of Stereotaxis. "With Niobe ES, we are enabling physicians to confidently perform complex procedures and treat difficult-to-reach areas of the heart, reigniting the excitement around robotics in the EP lab."
Kaminski says growing interest in the Company's latest generation robotic technology is translating into tangible results. "As anticipated, the continuation of upgrades in the installed base is leading to higher utilization, system orders and an increasing number of prospects interested in the proven value our platform offers."
The Company will provide details on third quarter results, including total Niobe ES system orders and upgrades, in November 2012.
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. With over 100 patents for use in a hospital's interventional surgical suite, Stereotaxis helps physicians around the world provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced collaboration of life-saving information. Stereotaxis' core technologies are the Niobe® ES Remote Magnetic Navigation system, the Odyssey® portfolio of lab optimization, networking and patient information management systems and the Vdrive™ Robotic Mechanical Navigation system and consumables.
The core components of Stereotaxis systems have received regulatory clearance in the U.S., Europe, and Canada and elsewhere; the V-Loop™ circular catheter manipulator is currently under regulatory review by the U.S. Food and Drug Administration. For more information, please visit www.stereotaxis.com and www.odysseyexperience.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, our continued access to capital and financial resources on a timely basis and on terms that are acceptable, continued acceptance of the Company's products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase our systems and the timing of such purchases, the outcome of various shareholder litigation recently filed against us, 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 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 in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company's 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.
CONTACT: Company Contact: Sam Duggan Chief Financial Officer 314-678-6007 Investor Contact: Todd Kehrli / Jim Byers MKR Group, Inc. 323-468-2300 firstname.lastname@example.org Media Contact: Frank Cheng Senior Vice President, Marketing & Business Development 314-678-6111Source:Stereotaxis, Inc.