Stereotaxis completes major cardiology tech acquisition
Stereotaxis, a St. Louis-based medtech company, has completed its acquisition of Robocath, a leading name in the field of robotic interventional cardiology technologies.
The deal, first announced to the public in April, includes an upfront payment of $20 million. If certain regulatory and commercial milestones are met, Stereotaxis could pay up to an additional $25 million.
Robocath was founded by CEO Philippe Bencteux, MD, in 2009. The French company’s flagship technology is the R-One+ system, which helps cardiologists perform percutaneous coronary intervention, and work on a next-generation version of the R-One+ is already underway. With this acquisition now complete, Stereotaxis plans on ramping up work on that new technology.
Stereotaxis has pointed to the benefits of adding Robocath’s advanced technologies to its own next-generation robotic surgical tools, highlighting the potential value for the fields of interventional cardiology and electrophysiology.
“We’re very excited to join Stereotaxis,” Bencteux said in a statement. “Combining the strengths, expertise, and technologies of two pioneers in endovascular robotics, we now have the opportunity to accelerate innovation, expand our global reach, and bring robotic solutions to many more physicians and patients around the world.”
“The addition of Robocath’s technology and team to Stereotaxis accelerates our strategy, enhances our technological leadership, provides attractive commercial synergies in an expanded addressable market, and supports new strategic opportunities,” added David Fischel, Stereotaxis Chairman and CEO.
Robocath will be fully integrated into Stereotaxis going forward.
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.