Represents Largest Japanese Audience for Company to Date
ST. LOUIS, July 21, 2014 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (Nasdaq:STXS) today announced that it will present at the 29th Annual Meeting of the Japanese Heart Rhythm Society in Tokyo beginning July 23, 2014. The three-day event is the first large-scale opportunity for the Company's in-country distributors, Medix Japan, Inc. and Hokushin Medical Co. Ltd., to promote the clinical value of the Stereotaxis Niobe® Magnetic Navigation System for cardiac ablations to the Japan electrophysiology (EP) market. Stereotaxis entered into an agreement with the two medical device distributors in February 2014 to market, sell and distribute the Niobe system and disposable devices to Japanese customers.
Medix Japan and Hokushin Medical have been in active dialogue with EP physicians on behalf of Stereotaxis. In conjunction with the commercialization efforts, the companies have been meeting with prestigious medical centers on the potential for research collaboration and preparing the necessary filings for regulatory approval of Stereotaxis' Vdrive™ Robotic Navigation System and Odyssey™ Information Management Solution product lines.
"We are very pleased with the level of commitment this team has demonstrated in bringing awareness of our technology to a high priority market, and we look forward to engaging with the Japanese EP community at Japan HRS this week," says William C. Mills, Stereotaxis Chief Executive Officer.
In addition to exhibiting at the event, the Company will be featured during a one-hour panel discussion on July 25, "Current Status and Future of Robotic Catheter Mapping and Ablation," presented by Dr. Hiroshi Nakagawa (University of Oklahoma Health Sciences Center) and moderated by Dr. Kenzo Hirao (Tokyo Medical and Dental University).
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 U.S., European Union, Canada, China, Japan and elsewhere. The V-Sono™ ICE catheter manipulator has received U.S. clearance, and the V-Loop™ variable loop catheter manipulator and V-CAS™ catheter advancement system have been submitted for review by the U.S. Food and Drug Administration. 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, the Company's 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 the Company's 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, the outcome of various shareholder litigation filed against Stereotaxis, 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.
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