ST. LOUIS, Jan. 24, 2019 (GLOBE NEWSWIRE) -- Stereotaxis (OTCQX: STXS), the global leader in innovative robotic technologies for the treatment of cardiac arrhythmias announced today a partnership with Kansas City Heart Rhythm Institute to bring new and cutting-edge treatments to arrhythmia patients. Kansas City Heart Rhythm Institute (KCHRI), a part of HCA Midwest Health, the region’s largest healthcare provider, will establish a new program which will be based at Overland Park Regional Medical Center to expand access to advanced robotic technology for the treatment of cardiac arrhythmias. KCHRI is the premier arrhythmia care institution serving the greater Midwest through world class clinical care, education and research.
Led by Dr. Dhanunjaya Lakkireddy, board-certified, fellowship-trained cardiologist specializing in electrophysiology, the KCHRI is committed to offering world-class heart care using advanced technology driven by the latest research and to achieving the best possible outcomes for patients. This mission is supported through the acquisition of Stereotaxis’ advanced robotic technology, along with large-screen display and connectivity solutions. The system is expected to be installed and operational in the second half of 2019.
“We are pleased to begin this partnership knowing that it allows us to care for patients in a way we have not been able to in the past, furthering our guiding vision to be the premier healthcare destination for patients suffering from cardiac arrhythmias,” said Dr. Lakkireddy. “Stereotaxis’ robotic technology enables improved outcomes and unparalleled safety for patients and the hospital clinical team during cardiac ablation procedures. It also allows us to better address a range of complex arrhythmias that otherwise might not have been treated, providing hope to many patients who otherwise would have had no options for cardiac arrhythmia. We have observed the clinical value of robotic cardiac ablation and are excited to be providing patients convenient access to this technology.”
“Dr. Lakkireddy is a world-renowned leader in electrophysiology research and education and was instrumental in authoring the meta-analysis published in the Journal of Interventional Cardiac Electrophysiology showing improved efficacy, safety and efficiency for robotic magnetic navigation versus manual navigation in ventricular tachycardia ablation. We are excited to be partnering with him, KCHRI, Overland Park Regional Medical Center and HCA Midwest Health to establish a new program in Kansas City,” said David Fischel, Chairman and CEO of Stereotaxis. “We look forward to supporting their efforts to improve patient care, advance clinical science, and build a successful robotic practice.”
Stereotaxis is the global leader in innovative robotic technologies designed to enhance the treatment of arrhythmias and perform endovascular procedures. 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, improved lab efficiency and productivity, and enhanced integration of procedural information. Over 100 issued patents support the Stereotaxis platform. The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Japan, Canada, China, and elsewhere. For more information, please visit www.stereotaxis.com.
This press release includes statements that may constitute "forward-looking" statements by Stereotaxis (the Company), 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, or to obtain additional financing, in either case 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, competitive factors, changes resulting from healthcare reform in the United States, 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.
Chairman and Chief Executive Officer
Martin C. Stammer
Chief Financial Officer