Access Point Technologies EP, Inc.

Stereotaxis (NYSE: STXS) is purchasing a Minneapolis-based electrophysiology (EP) catheter maker to further enhance its minimally invasive endovascular surgical robotics technology. St. Louis–based Stereotaxis did not disclose how much it is paying for Access Point Technologies in its after-hours news release. The transaction, paid with Stereotaxis stock, includes an upfront payment and additional contingent payments based upon key regulatory and commercial milestones. “Acquiring APT provides Stereotaxis with high-quality catheter development and manufacturing capabilities, and will amplify and accelerate Stereotaxis’ efforts to advance the treatment of complex arrhythmias and the adoption of robotics broadly within endovascular surgery,” said Stereotaxis CEO David Fischel. “The acquisition offers valuable commercial synergies, strengthens us strategically, and was pursued in a financially prudent and shareholder-friendly fashion.” Stereotaxis officials estimate that APT will contribute roughly $5 million in annual revenue during the first year after the acquisition. Pending customary closing conditions, the acquisition is expected to close in the third quarter. Access Point Technologies President Steve Berhow said the acquisition provides APT with an expanded home in the growing field of electrophysiology. “...