Dive Brief:
- Stereotaxis said Thursday it finalized the acquisition of French surgical robotics company Robocath.
- Announced in April, the deal is valued at up to $45 million and brings together two robot developers focused on endovascular interventions, which are performed inside blood vessels.
- Combining the companies’ expertise will speed development of next-generation robotic technologies for electrophysiology, interventional cardiology and neurointerventions, the companies said.
Dive Insight:
Stereotaxis received FDA clearance in November for its latest robotic magnetic navigation system, GenesisX, which is used in ablation procedures to treat cardiac arrhythmias.
The system was redesigned to address hospital infrastructure challenges that hampered adoption of its earlier-model robot.
Stereotaxis has since won Food and Drug Administration authorization for a proprietary catheter, called MAGiC, to be used with its robots and a digital operating room system called Synchrony. It is winding down a catheter supply relationship with Johnson & Johnson.
In May, CEO David Fischel said the company was witnessing “the initial green shoots of commercial success” with its new product portfolio.
Robocath was founded in 2009 by its CEO, Philippe Bencteux. The company’s R-One+ robot, available in Europe and China, assists in percutaneous coronary intervention to open blocked arteries.
Robocath is also working on a next-generation robot that would allow for simultaneous manipulation of up to five interventional devices. Stereotaxis plans to accelerate development of the new system and pursue regulatory submissions in the U.S. and Europe within the next two years.
Stereotaxis purchased Robocath for $20 million upfront plus additional payments of up to $25 million tied to regulatory and commercial milestones that include FDA clearance of Robocath’s next-generation system.
