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Stereotaxis Appoints New Chief Financial Officer

Stocks in this article: STXS

ST. LOUIS, Oct. 3, 2011 /PRNewswire/ -- Stereotaxis, Inc. (NASDAQ: STXS) today announced the appointment of Samuel W. Duggan as Chief Financial Officer of the Company, effective immediately. Mr. Duggan will report to President and Chief Executive Officer Michael P. Kaminski.

Mr. Duggan, 48, has 25 years of financial leadership experience. He was Vice President and Treasurer of RehabCare Group, Inc. from 2009 until its 2011 acquisition by Kindred Healthcare, Inc. During this time, Mr. Duggan had management responsibility for treasury, investor relations, financial analysis, budgeting and lease financing.

"Sam is a highly accomplished public company finance executive with broad experience in senior strategic finance roles," said Mr. Kaminski. "Sam's leadership skills and proven track record in directing finance and accounting organizations will be invaluable to Stereotaxis as we continue to execute our strategic plan."

Mr. Duggan said, "This is an exciting time to join Stereotaxis as the company is positioned for growth with the coming launch of Epoch and the expansion of Odyssey into the large standard lab market. With the recent reduction in operating expenses, strong recurring revenue performance and the opportunity to accelerate capital revenue, Stereotaxis has created the foundation for improved financial performance. I am thrilled by the significant opportunities that lie ahead for Stereotaxis and look forward to working with the Stereotaxis team and contributing to the company's future success."

From 2005 to 2008, Mr. Duggan held various finance positions of increasing responsibility at Kellwood Company, one of the largest apparel makers in the U.S., concluding with his role as Corporate Vice President, Investor Relations and Treasurer. Immediately prior to Kellwood, he was with MEMC Electronic Materials, Inc., where he held various positions in accounting, business development, purchasing, facilities planning and investor relations, starting in 1996. Mr. Duggan was with KPMG LLP from 1986 until 1996 culminating with his role as an audit senior manager.

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