Healthcare Industry News: Stereotaxis
News Release - May 3, 2007
Stereotaxis Announces European Approval of Partnered Irrigated Ablation CatheterImportant Regulatory Milestone Achieved With European Approval of Magnetic Irrigated Ablation Catheter
ST. LOUIS, May 3 (HSMN NewsFeed) -- Stereotaxis, Inc. (Nasdaq: STXS ) announced today that its partnered magnetic irrigated ablation catheter has received CE approval and will be commercially available in Europe in the coming months.
Bevil Hogg, CEO of Stereotaxis, stated, "We are very excited about the timely completion of this important regulatory milestone in countries that recognize the CE mark. The addition of the irrigated catheter to our growing family of electrophysiology ablation catheters is a significant step toward our goal of establishing a new standard of care in the safe and effective treatment of complex arrhythmias. We now look forward to increasing clinical utilization of Stereotaxis systems at European sites and accelerating system sales worldwide."
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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