Stereotaxis, an endovascular surgical robotics company, has signed a definitive agreement to acquire Robocath, a cardiology and neurointerventions robotics developer.
The acquisition expands Stereotaxis’ portfolio of fully-integrated robotic technologies for electrophysiology, interventional cardiology and neurointerventions, according to an April 15 news release from the company.
Robocath’s flagship R-One+ system is the only commercially available robotic system available for percutaneous coronary interventions in Europe. Stereotaxis will pursue regulatory submissions for Robocath’s technology in the U.S. and Europe within the next two years.
The transaction includes an upfront payment of $20 million and additional contingent payments of up to $25 million tied to regulatory and commercial milestones.
Stereotaxis estimates that the acquisition will become breakeven by the third year post-acquisition, the release said.
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