Continues to Grow Utilization and Enthusiasm for Robotic Technologies in Asia Pacific Market
ST. LOUIS, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (OTCQX:STXS), a global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, announced today that physicians at Japanese hospitals have completed more than 500 ablation procedures using the Company’s Niobe® ES remote magnetic navigation system.
“After being introduced to the Niobe system, I made it a personal goal to be the first physician to bring the next generation of cardiac ablation therapy to the people of Japan,” said Kohei Yamashiro, MD, Heart Rhythm Center Director at Takatsuki General Hospital. The Center was the first to order and begin using the Niobe system in Japan, with initial procedures performed in July 2015. Since that time, it has completed more than 400 procedures with the Niobe system, championed by Dr. Yamashiro. “Stereotaxis continues to deliver incredible value to my patients and practice,” he said.
The second Japan site, Kakogawa Central City Hospital, launched the Niobe system in July 2016 as part of the opening of a new state-of-the-art medical center located southwest of Tokyo. Led by Dr. Katsunori Okajima, who stated, “The Stereotaxis robotic platform has brought great excitement to interventional medicine in Japan,” the electrophysiology (EP) lab at Kakogawa has used the Niobe system with over 100 ablation cases.
Japan is part of an Asia Pacific (APAC) market that continues to experience healthy growth in Stereotaxis utilization, increasing procedures by more than 20% in the first half of 2017 compared to the first half of 2016. More than half of Stereotaxis procedures in the APAC market are performed in China, where Dr. J. Peter Weiss of Intermountain Medical Center in Salt Lake City, Utah presented his experiences with the Niobe remote magnetic navigation system and its value in atrial and ventricular arrhythmia to an audience at the Qianjiang International Conference of Cardiology in East China earlier this month.
Stereotaxis’ technologies will be on display for physicians from Japan and across the APAC region at the 10thAsia Pacific Heart Rhythm Society (APHRS) Scientific Session this week in Yokohama, Japan. On Thursday, Sept. 14, a luncheon seminar at the conference will showcase the utility of robotics in cardiac ablation. Moderated by Dr. Teo Wee Siong from National Heart Centre in Singapore, the seminar will feature case presentations by Dr. Yamashiro and Dr. Pramesh Kovoor from Westmead Hospital in Sydney, Australia. From Friday through Sunday, Stereotaxis will be present in the exhibition hall alongside its Japanese distribution partner, Hokushin Medical, offering participants first-hand observation of the ease and effectiveness of robotic solutions in complex ablations through several computer-based and physical simulations.
Finally, the inaugural meeting of the APAC Chapter of the Society for Cardiac Robotic Navigation (SCRN) will convene at APHRS. With recently established chapters in Europe and the Americas, the aim of the physician-led society is to promote global awareness and advancement of robotics in cardiology through physician education and support of clinical research, development and best practices. The APAC meeting will include physicians from China, Japan, Australia, Singapore and South Korea who share the belief that robotics should have a prominent role in the EP arena.
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, 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 Acting Chief Executive Officer
Martin C. Stammer
Chief Financial Officer