Stereotaxis Closes $45M Deal for Robocath

Stereotaxis revealed that it has completed the acquisition deal for Robocath, a developer of robotic technologies for interventional cardiology and neurointerventions.

The duo’s combined, complementary technologies and expertise aim to speed development of next-gen robotic tools for electrophysiology, interventional cardiology, and neurointerventions. Merging the two companies’ platforms bolsters Stereotaxis’ market share for robotic technologies for endovascular surgeries.

Stereotaxis uses computer-controlled magnetic fields for navigating interventional devices’ distal tips and Robocath’s platform offers multi-device control at the bedside.

The acquisition deal, which was first announced in April, consisted of a $20 million upfront payment, with contingent payments of up to $25 million depending on achievement of regulatory and commercial milestones—including U.S. Food and Drug Administration (FDA) clearance for Robocath’s second-generation system, which began a first-in-human study in February.

Stereotaxis plans to accelerate development of Robocath’s next-gen system and chase regulatory submissions in the U.S. and EU within two years. The company will enhance Robocath’s system with existing proprietary hardware and software embedded within its GenesisX, Synchrony, and SynX systems, enabling advanced functionality, operating room integration, automation, and remote procedures.

Comments from Stereotaxis and Robocath

David Fischel, chairman and CEO of Stereotaxis: “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.”

Philippe Bencteux, founder and CEO of Robocath: “We’re very excited to join Stereotaxis. 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.”