Stereotaxis to acquire robotic PCI company Robocath for up to $45M
Stereotaxis, a St. Louis-based medtech company, has agreed to acquire Robocath, a major player in the field of robotic interventional cardiology technologies.
The deal includes an upfront payment of $20 million. Stereotaxis could pay up to an additional $25 million if certain regulatory and commercial milestones are met.
Stereotaxis already specializes in robotic technologies used for a variety of minimally invasive endovascular procedures. Scooping up Robocath helps the company expand its offerings to include devices used for percutaneous coronary intervention (PCI) and other critical operations performed by interventional cardiologists in the cath lab.
Robocath is based in Rouen, France. The company’s flagship technology is the R-One+ system, a robotic system that helps cardiologists perform PCI, and work on a next-generation version of the R-One+ is already underway. Stereotaxis aims to ramp up work on that new technology once its acquisition is complete.
“Robocath represents a highly strategic addition to Stereotaxis, amplifying and accelerating our strategy as the leading robotic platform for the broad spectrum of endovascular procedures,” David Fischel, Stereotaxis chairman and CEO, said in a statement. “By combining our complementary robotic mechanisms, we are creating a uniquely capable platform that expands our reach across interventional medicine. This transaction accelerates our strategy, enhances our technological leadership, provides attractive commercial synergies, opens new avenues for growth and supports other strategic opportunities being pursued by Stereotaxis.”
“For over 15 years, we have been committed to pioneering the most sophisticated plug-and-play bionic robotic technology for endovascular procedures,” added Philippe Bencteux, Robocath founder and CEO. “Joining Stereotaxis provides the scale, complementary technologies, and strategic alignment needed to accelerate our development and expand our impact. We believe this combination will unlock significant opportunities in rapidly growing markets, which are becoming increasingly receptive to robotics.”
After this transaction is finalized, Robocath will operate as a wholly owned subsidiary of Stereotaxis.
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.