Navigation Links
Stereotaxis Completes $40 Million Credit Facility
Date:12/20/2010

ST. LOUIS, Dec. 20, 2010 /PRNewswire/ -- Stereotaxis, Inc. (Nasdaq: STXS) announced today that the Company has closed on its previously announced $40 million credit facility, which includes a $30 million revolving facility that matures on March 31, 2012 and a $10 million term loan that matures on December 31, 2013.  The new facility was led by Silicon Valley Bank, and replaces the Company's previous facility that was scheduled to mature in March 2011.

"We are pleased that this new facility allows us to balance our capital structure in a manner that minimizes our cost of capital and equity dilution.  We believe the increased liquidity and financial flexibility provided by this facility should enhance our ability to drive to commercial success with our technology platform that addresses the large and growing heart arrhythmias market," said Mike Kaminski, Chief Executive Officer of Stereotaxis.

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 coronary artery disease and arrhythmias. The Niobe® Remote Magnetic Navigation 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.

Stereotaxis' Odyssey™ portfolio of products provides an innovative enterprise solution for integrating, recording and networking interventional lab information within hospitals and around the world. Odyssey™ Vision integrates data for magnetic and standard interventional labs, 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.  Odyssey™ then enables hospitals to efficiently share live and recorded clinical data anywhere around the world to maximize referrals and promote collaboration.

The core components of the Stereotaxis systems have received regulatory clearance in the U.S., Europe, Canada and elsewhere. For more information, please visit www.stereotaxis.com and www.odysseyexperience.com.

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, the effect of global economic conditions on the ability and willingness of customers to purchase our systems and the timing of such purchases, competitive factors, changes resulting from the recently enacted healthcare reform in the U.S., including changes in government reimbursement procedures, dependence upon third-party vendors, timing of regulatory approvals, 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, delayed or canceled, either by their express terms, as a result of negotiations, or by overall project changes or delays.


'/>"/>
SOURCE Stereotaxis, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Stereotaxis Market Leadership Reinforced in Core Curriculum and Symposium Presentations at Heart Rhythm 2008
2. Stereotaxis Receives Commitment to Increase and Extend Its Credit Facility With Silicon Valley Bank
3. Stereotaxis Announces Public Offering of Common Stock
4. Stereotaxis Announces Pricing of $26 Million Common Stock Offering
5. Stereotaxis Announces Underwriters Exercise of Over-Allotment Option
6. Stereotaxis Receives Notice of European Approval of an Additional Magnetic Irrigated Catheter
7. Stereotaxis System Procedure Featured on NBCs The TODAY Show
8. Stereotaxis is Notified of the FDA Approval of an Additional Magnetic Irrigated Catheter
9. Stereotaxis Installs First System in Taiwan
10. Stereotaxis Updates Progress on Major Clinical Initiative Related to Electrophysiology (EP) Treatment of Ventricular Tachycardia
11. Stereotaxis Announces Vdrive(TM), a New Technology for Remote Navigation of Diagnostic Devices
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/7/2017)... , Aug. 7, 2017 Diplomat Pharmacy, Inc. (NYSE: ... Joel Saban as president, effective Aug. 7, 2017. ... has decided to pursue other interests and will serve as ... tenure, Paul has served us in multiple leadership roles since ... in Jun. 2015 and has provided decisive, strategic leadership which ...
(Date:8/4/2017)... 4, 2017 The search for test results ... physician/patient consult has long been the goal of healthcare ... focus of the largest meeting of lab professionals and ... market research firm Kalorama Information.  The firm said scores ... or related supplies and software were at the American ...
(Date:8/2/2017)... AROMAS, Calif. , Aug. 2, 2017 /PRNewswire/ ... by Continental Who,s Who as a Pinnacle Lifetime ... currently the Key Account Manager at Turing Pharmaceuticals, ... communications, negotiations, troubleshooting and relationship building.                ... has more than 25 years of experience ...
Breaking Medicine Technology:
(Date:8/22/2017)... ... August 22, 2017 , ... GeBBS ... recently the availability of a new professional fee E/M leveling calculator tool. The ... to the healthcare industry. E/M coding is complex which supports the need for ...
(Date:8/22/2017)... ... August 22, 2017 , ... “Without Love’s Beauty and Pleasures ... the struggles faced while hoping for a better life. “Without Love’s Beauty and ... Bernewitz, who spent 13 years working with deprived/neglected adolescents and almost 20 years ...
(Date:8/22/2017)... (PRWEB) , ... August 22, 2017 , ... “Call Of ... Duty” is the creation of published author, C.S. Lizarde. Growing up on the ... untimely trials. When Carlos began to apply the Biblical keys to his life, ...
(Date:8/21/2017)... ... August 21, 2017 , ... ... two plastic surgery fellows for academic year 2017-2018, Christina M. Busuito, M.D. and ... successfully completed residency in Plastic and Reconstructive Surgery. The candidate will have ...
(Date:8/21/2017)... , ... August 21, 2017 , ... ... recognized community involvement program serving the people of Michigan. The new initiative fundraises ... 120 years at the very forefront of animal protection and welfare by addressing ...
Breaking Medicine News(10 mins):