ST. LOUIS, Feb. 8 Stereotaxis (Nasdaq: STXS) today announced the installation of its first Stereotaxis Magnetic Navigation System in Taiwan at Cheng-Hsin General Hospital (CHMC) located in Taipei. CHMC hosted a Grand Opening event on January 26 that received wide coverage throughout the area and, to date, ten procedures have been successfully performed using Stereotaxis at the hospital.
"All too often during interventional procedures, we are required to spend quite a lot of time negotiating tortuous vessels. With the Stereotaxis system, we can get to where we need to go directly, enabling us to deliver therapy easily, in less time and with very low risk of an adverse event," said Dr. Wei-Hsian Yin, Chief of the Division of Cardiology, Cheng-Hsin General Hospital. "The system also allows us to reduce x-ray exposure and contrast, which is of great benefit to the patient, as well as the physician."
"Asia Pacific represents a strong growth opportunity for the Company, and we are very pleased with our momentum in that region," commented Mike Kaminski, president and chief executive officer of Stereotaxis. "To date, we have sold 12 systems to hospitals in the region and are increasing our sales focus on Asia Pacific during 2010."
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. Stereotaxis' Odyssey(TM) solutions integrate and manage information from disparate information sources, eliminating the challenge of interacting simultaneously with many separate diagnostic systems, driving optimized workflow and improved productivity. The core components of the Stereotaxis system have received regulatory clearance in the U.S., Europe and Canada. For more information, please go to www.stereotaxis.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," "momentum," "focus," 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.