Healthcare Industry News: Stereotaxis
News Release - June 16, 2006
Stereotaxis' Technology Utilized in Successful Completion of Multiple Live Remote Cardiac Ablation Cases at Cardiostim 2006 in EuropeCompleted Atrial Fibrillation and Supraventricular Tachycardia Procedures Mark First Ever Live Remote Cases Done at Cardiostim Conference and Represent Fourth and Fifth Live Procedures Concluded at Medical Conferences in Last 30 Days with Stereotaxis System
ST LOUIS, June 16 (HSMN NewsFeed) -- Stereotaxis, Inc. (Nasdaq: STXS ) announced today the successful completion of two live remote cases at Cardiostim 2006, the 15th World Congress in Cardiac Electrophysiology and Cardiac Techniques, taking place in Nice, France from June 14th - 17th. The procedures were performed in the electrophysiology (EP) lab of Professor Nadir Saoudi, M.D., Princess Grace Hospital, Monaco, where a Stereotaxis system was recently installed. Physicians performing the procedure included Professor Carlo Pappone, M.D., Ph.D., Hospital San Raffaele, Milan, Italy, who performed an ablation procedure to treat a patient with paroxysmal atrial fibrillation (AF). For the other procedure, Professor Karl-Heinz Kuck, M.D., and Sabine Ernst, M.D., General Hospital St. Georg, Hamburg, Germany, completed an ablation procedure to cure a patient with supraventricular tachycardia.
Dr. Pappone, who has now successfully performed over 200 AF ablations utilizing the Stereotaxis system, performed this AF ablation in approximately one hour and five minutes. Similar procedures done via manual catheter ablation can take several hours for most physicians. Due to the precision of magnetic navigation, Dr. Ernst was able to reduce her ancillary disposable devices using only the Stereotaxis ablation catheter and two reference catheters, rather than the typical three to four reference catheters for manual procedures. This reduction in disposables highlighted one of the financial benefits that can be realized with Stereotaxis' Niobe® platform.
"Over the past month, the Stereotaxis system has been featured in live remote procedures at the Heart Rhythm 2006 Scientific Sessions, EuroPCR 2006 and now Cardiostim 2006," said Bevil Hogg, President and CEO of Stereotaxis. "Live cases provide physicians with practical, real-world education. Unfortunately, live cardiology procedures, particularly in electrophysiology, are not often presented because of concerns surrounding procedure length and outcomes in a large public forum. Therefore, the fact that clinicians have successfully completed five such procedures in just the last 30 days illustrates their confidence in the broad applicability, safety and reliability of the Stereotaxis technology."
The live remote cases at Cardiostim 2006 were included within a session on the treatment of complex arrhythmias that was chaired by Dr. Saoudi and included presentations by Robert Schweikert, M.D., The Cleveland Clinic, Peter Gallagher, M.D., Central Baptist Hospital, Lexington, KY, and Robert Lemery, M.D., University of Ottawa Heart Institute, Ontario, Canada. Closing comments were provided by Eric Prystowsky, M.D., St. Vincent Hospital, Indianapolis, Indiana. Each physician participating in the session has an installed Stereotaxis system in their institution's EP lab. The presentations focused on the physicians' experience with and potential future applications for Stereotaxis' technology. Additionally, the Company's Niobe platform was the subject of four oral abstract presentations.
Stereotaxis designs, manufactures and markets an advanced cardiology instrument control system for use in a hospital's interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias. The Stereotaxis System is designed to enable physicians to complete more complex interventional procedures by providing image guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites. This is achieved using computer-controlled, externally applied magnetic fields that govern the motion of the working tip of the catheter or guidewire, resulting in improved navigation, shorter procedure time and reduced x-ray exposure. The core components of the Stereotaxis system have received regulatory clearance in the U.S., Europe and Canada.
This press release includes statements that may constitute "forward- looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, changes in government reimbursement procedures, dependence upon third-party vendors, and other risks discussed in the Company's periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that we will recognize revenue related to our purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of our control. In addition, these orders and commitments may be revised, modified or canceled, either by their express terms, as a result of negotiations, or by project changes or delays.
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