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Stereotaxis Announces Vdrive(TM), a New Technology for Remote Navigation of Diagnostic Devices

ST. LOUIS, May 11 /PRNewswire-FirstCall/ -- Stereotaxis, Inc. (Nasdaq: STXS) today announces the introduction of its new Vdrive™, an expansion of its Magnetic Navigation platform that facilitates remote manipulation of diagnostic devices used during electrophysiology (EP) procedures. The company is planning to preview the Vdrive at the HRS meeting this week, and will be commercially available when regulatory processes are complete.  

During complex ablation procedures, electrophysiologists commonly use multiple advanced diagnostic catheters and positioning sheaths. Navigation of these devices is a significant component of an electrophysiologist's workflow. Vdrive is designed to significantly improve the efficiency of remote procedures.

Vdrive works with Stereotaxis' Magnetic Platform and enables the electrophysiologist to fully and remotely control diagnostic catheters and accessories. The Vdrive module will be installed near the patient table and disposable components will be needed for each procedure. The disposable for circular mapping catheter control will be made available initially, to be followed shortly thereafter by disposables for sheath and intra-cardiac echocardiography (ICE) control.  

Vdrive will join QuickCAS™, Stereotaxis' catheter advancement system, as the fundamental elements of Stereotaxis' disposable product portfolio. Vdrive uses mechanical and electronic controls for its remote operations and is expandable to work with major types of EP diagnostic catheters.  

"Stereotaxis is committed to developing long-term solutions for our EP customers," said Michael P. Kaminski, President and Chief Executive Officer of Stereotaxis, Inc. "By providing physicians with a helping hand to control diagnostic catheters and accessories, Vdrive has the potential to enable a much simplified and enhanced EP workflow and much improved efficiency. This significant product milestone is a direct outcome of our global collaboration with EP industry thought leaders, and an exciting result of our ongoing investment in strategic product innovations."  

About Stereotaxis

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 arrhythmias and coronary artery disease. 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 unparalleled clinical capability of Stereotaxis has driven more than 130 hospitals to adopt magnetic navigation for a growing number of complex ablation cases in all four chambers of the heart.  Stereotaxis technology is now installed and used by 9 out of the Top 10 Best U.S. Heart Hospitals as ranked by U.S. News and World Report, and more than one third of the EP academic training centers in the United States have included Stereotaxis into their arrhythmia treatment laboratories. The core components of the Stereotaxis system have received regulatory clearance in the U.S., Europe, Canada and elsewhere.

About Odyssey

The Odyssey portfolio of products provides an innovative enterprise solution for integrating, recording and networking interventional lab information around the world. Odyssey Vision standardizes data integration for magnetic and standard interventional labs by enhancing the physician workflow through a consolidated display of multiple systems and eliminating the challenge of interacting simultaneously with many separate diagnostic systems. Odyssey Enterprise Cinema then captures a complete record of synchronized procedure data that can be viewed live or from a comprehensive archive of cases performed. Through its proprietary data compression technology, Cinema enables sharing of live and recorded procedure data via a laptop anywhere over a secure high speed Internet connection. Hospitals can also share procedures with other institutions using Odyssey Network Connect providing a global forum for defining clinical best practices across a broad spectrum of medical procedures.

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 for the Company's products in the marketplace, the effect of global credit and economic conditions on the ability and willingness of customers to purchase our systems, competitive factors, changes in government reimbursement procedures, dependence upon third-party vendors, timing of regulatory approval and return of the irrigated catheter to the market, 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 the Company will recognize revenue related to its 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 the Company's 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.

SOURCE Stereotaxis, Inc.
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