Stereotaxis, a pioneer in surgical robotics for minimally invasive endovascular intervention, has announced a definitive share purchase agreement to acquire Access Point Technologies EP (APT), a Minnesota-based company specializing in electrophysiology catheters. This acquisition is expected to add approximately $5 million in annual revenue for Stereotaxis in the first year post-acquisition. APT’s catheter portfolio aligns with Stereotaxis’ technological advancements in treating complex arrhythmias and fortifies its market position in the endovascular surgery sector. The transaction includes upfront and contingent payments, all in Stereotaxis stock, subject to certain milestones. It rests on customary closing conditions, with an expected completion in the third quarter. Not only does the deal promise to deliver commercial synergies, but it also strategically strengthens Stereotaxis and demonstrates its prudent financial approach to growth. Both companies express mutual enthusiasm for the partnership, with APT’s President Steve Berhow recognizing the benefits of joining a leading figure in the electrophysiology field. Stereotaxis Chairman and CEO David Fischel reaffirms this sentiment, emphasizing the commitment to innovation and patient treatment improvements. Additionally, Stereotaxis will hold a conference call and webcast following its first-quarter financial results to discuss the acquisition. The company is noted for its role in treating over 100,000 patients globally with its advanced robotic systems. However, the forward-looking statement cautions the transaction is not without risks, which may affect the financial outcomes, integration success, and anticipated benefits of the acquisition.

Healthcare Technology, Medical Devices,United States

https://www.globenewswire.com/news-release/2024/05/13/2880853/21634/en/Stereotaxis-Announces-Definitive-Agreement-to-Acquire-Access-Point-Technologies.html