Stereotaxis signs APT buyout to gain catheters for surgical robots

Stereotaxis, a surgical robot developer, is acquiring Access Point Technologies (APT) to bolster its capabilities in creating robotically steered diagnostic catheters for cardiovascular procedures. This strategic move aims to internalize device development, reducing reliance on external service providers.

By utilizing its U.S. field force, Stereotaxis plans to expand APT's predominantly international sales, anticipating a $5 million contribution within the first year post-acquisition.

While renowned for its robotic systems like cardiac ablation, Stereotaxis has collaborated with third parties to develop robotically steered guidewires and guide catheters. APT's guide catheter, slated for early 2025 release, aligns with Stereotaxis' strategy for sustained sales growth.

Facilitated by stock payments, the acquisition maintains Stereotaxis' $18.2 million cash reserves. Despite a $4.5 million Q1 loss, Stereotaxis foresees profitability without further funding. The acquisition is set to conclude in Q3, after which Stereotaxis' U.S. sales reps will begin marketing APT's devices.