Stereotaxis Reports 2016 Third Quarter Financial Results

  • Completed $24 million private placement equity financing
  • Retired all outstanding debt at significant discount
  • Appointed three board members with extensive medical device experience
  • Shipped fifth Niobe ® ES system to Japan
  • Grew ventricular tachycardia procedures by 25% and total procedures by 3% year over year
  • Conference call today at 4:30 p.m. Eastern Time

ST. LOUIS, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (OTCQX:STXS), a global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, today reported financial results for the third quarter ended September 30, 2016. 

"During the quarter, we completed a transformative financing that significantly strengthened our financial position, enabled us to retire in full all of our outstanding debt at a considerable discount and supports the execution of our strategic growth initiatives," said William C. Mills, Stereotaxis Chief Executive Officer and Chairman.

"For many years, our vision has been to provide a completely new approach to arrhythmia ablation that would change people's lives. Today, hundreds of physicians worldwide are utilizing our innovative technologies and have performed more than 90,000 procedures with improved safety, acute success and long-term patient outcomes. Our immediate and long-term strategic goals remain centered on putting our advancing technologies into the hands of more physicians across the globe to bring the substantial benefits of robotics to patients and clinicians.  

"We are seeing continued progress and procedure growth in our newest market, Japan, where we shipped our fifth Niobe ® ES system during the third quarter. We also continue to gain market share across the globe in ventricular tachycardia (VT) ablation, a challenging and complex procedure that represents a significant and largely untapped market opportunity for the Company. During the quarter, VT procedures increased by 25% representing our fifth consecutive quarter of double-digit growth in VT volume and we saw our largest overall procedures increase in nearly two years.

"Going forward, we are excited to work with three new members of our board of directors, who bring proven expertise in commercializing clinically meaningful technologies and building businesses that create value for patients, clinicians and shareholders," Mr. Mills concluded.

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