Prime Highlights
- Stereotaxis completes its acquisition of Robocath, aiming to accelerate robotic interventional cardiology innovation worldwide.
- Deal includes $20 million upfront, with up to $25 million more tied to regulatory and commercial milestones.
Key Facts
- Robocath’s R-One+ system aids percutaneous coronary intervention.
- Robocath, founded 2009, will fully integrate into Stereotaxis.
Background
Stereotaxis, a St. Louis-based medtech company, has completed its acquisition of Robocath, a leading name in robotic interventional cardiology technology. The deal, first announced in April, includes an upfront payment of $20 million.
Stereotaxis could pay up to an additional $25 million if certain regulatory and commercial milestones are met, bringing the total potential value of the transaction to $45 million.
Robocath was founded in 2009 by CEO Philippe Bencteux. The French company’s flagship technology, the R-One+ system, helps cardiologists perform percutaneous coronary intervention, a minimally invasive procedure used to treat narrowed or blocked coronary arteries.
Work on a next-generation version of the R-One+ is already underway, and Stereotaxis plans to accelerate that development now that the deal is complete.
Stereotaxis said adding Robocath’s technologies to its own next-generation robotic surgical tools could strengthen its offerings across the fields of interventional cardiology and electrophysiology, expanding the range of procedures its robotic systems can support.
Bencteux said joining Stereotaxis brings together the strengths, expertise and technologies of two pioneers in endovascular robotics, creating an opportunity to speed up innovation, widen global reach, and bring robotic solutions to more physicians and patients around the world.
David Fischel, Stereotaxis Chairman and CEO, said the addition of Robocath’s technology and team accelerates the company’s strategy, strengthens its technological leadership, and opens up attractive commercial synergies in an expanded addressable market. He added that the deal also supports new strategic opportunities for Stereotaxis going forward.
Robocath will be fully integrated into Stereotaxis, with its team and technology folded into the company’s broader robotic surgical platform.