Stereotaxis, Inc. designs, manufactures, and markets robotic systems, instruments, and information systems for the interventional laboratory in the United States and internationally. Its robotic magnetic navigation (RMN) systems include the Genesis RMN and Niobe systems, which enable physicians to complete complex interventional procedures by providing image-guided delivery of catheters and guidewires through the blood vessels and chambers of the heart to treatment sites. The company also provides Odyssey, a real-time information solution to manage, control, record, and share procedures across networks; and Stereotaxis Imaging Model S X-ray system, a single-plane full-power x-ray system, including c-arm, powered table, motorized boom, and large high-definition monitors for a robotic interventional operating room. In addition, it offers disposables and other accessories, such as QuikCAS automated catheter advancement disposables for the remote advancement of electrophysiology catheters; and CARTO RMT navigation and ablation system, CELSIUS RMT, NAVISTAR RMT, NAVISTAR RMT DS, NAVISTAR RMT THERMOCOOL, and CELSIUS RMT THERMOCOOL irrigated tip diagnostic/ablation steerable tip catheters. Further, the company provides Vdrive, a system that offers navigation and stability for the diagnostic and therapeutic devices designed to improve interventional procedures; and V-Loop, V-Sono, and V-CAS disposable components. Stereotaxis, Inc. markets its products through direct sales force, distributors, and sales agents. The company has a strategic collaboration with Osypka AG to develop a magnetic ablation catheter using Stereotaxis' robotic technology. Stereotaxis, Inc. was incorporated in 1990 and is headquartered in Saint Louis, Missouri.
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Here are 1-2 brief analogies for Stereotaxis (STXS):
- Stereotaxis is like the Intuitive Surgical for heart procedures.
- Stereotaxis is like Stryker's Mako Robotics for heart procedures.
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- Stereotaxis Genesis RMN System: A robotic magnetic navigation system designed to precisely guide catheters within the heart for treating complex arrhythmias.
- Stereotaxis Niobe ES System: An earlier generation robotic magnetic navigation platform used to enable physicians to remotely control and navigate catheters during electrophysiology procedures.
- VIMAG Navigational Catheters: Proprietary, magnetically responsive catheters designed to be used in conjunction with Stereotaxis' robotic systems for diagnostic mapping and therapeutic ablation.
- Stereotaxis System Support and Services: Comprehensive technical support, maintenance, training, and software updates provided for their robotic magnetic navigation platforms.
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Stereotaxis (STXS) sells its robotic systems, software, and related disposables primarily to other companies and organizations within the healthcare sector, rather than directly to individuals.
Based on the company's public filings (e.g., 10-K reports), Stereotaxis does not have a small number of major customer companies that individually account for a significant portion of its revenue. The company explicitly states that it does not believe the loss of any single customer would have a material adverse effect on its business. Instead, Stereotaxis serves a broad global base of numerous healthcare institutions.
Therefore, specific names of publicly traded major customer companies cannot be provided as none meet the threshold of a concentrated "major customer." However, the major categories of customer organizations Stereotaxis serves include:
- Hospitals: These are the primary purchasers and end-users of Stereotaxis's robotic magnetic navigation systems for performing advanced electrophysiology procedures to treat complex heart arrhythmias. This category includes a wide range of facilities, from large urban hospitals to smaller community hospitals with cardiology programs.
- University Medical Centers and Academic Institutions: Often leaders in medical research, education, and advanced patient care, these institutions are key adopters of innovative medical technologies like those offered by Stereotaxis. They also play a significant role in training future electrophysiologists.
- Large Integrated Delivery Networks (IDNs) / Health Systems: These organizations encompass multiple hospitals, clinics, and other healthcare facilities operating under a unified system. Stereotaxis often engages with these larger systems to implement its technology across several of their member institutions, benefiting from consolidated purchasing and standardized care pathways.
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- Benchmark Electronics, Inc. (BMK)
- Analog Devices, Inc. (ADI)
- TE Connectivity Ltd. (TEL)
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David Fischel, Chief Executive Officer & Chairman
David Fischel has served as a Director of Stereotaxis since September 2016 and as CEO and Chairman of the Board since February 2017. He has led the company's efforts to achieve financial health, commercial growth, and an innovation strategy. Before joining Stereotaxis, he spent over ten years as Principal and portfolio manager for medical device investments at DAFNA Capital Management, LLC. Prior to DAFNA Capital, he was a research analyst at SCP Vitalife, a healthcare venture capital fund. His transition from investor to operator at Stereotaxis was driven by a desire to build something meaningful. He is a Certified Public Accountant, Chartered Financial Analyst, and Chartered Alternative Investment Analyst.
Kimberly Peery, Chief Financial Officer
Kimberly Peery joined Stereotaxis in 2003 and was appointed Chief Financial Officer in September 2019. Prior to her tenure at Stereotaxis, she served as a controller at various private companies.
Patricia Williams, General Counsel & Secretary
Patricia Williams joined Stereotaxis in 2025. She brings over 20 years of experience as General Counsel for significant healthcare organizations and publicly traded companies, including Peabody Energy, SSM Health, RehabCare Group (which was acquired by Kindred Healthcare), and Thermadyne Holdings. Her experience encompasses all legal activities, operations, commercial agreements, litigation, corporate governance, and mergers and acquisitions.
Frank Van Hyfte, Vice President, EMEA Sales
Frank Van Hyfte joined Stereotaxis in 2022, bringing over 20 years of medical technology sales leadership. He spent more than 15 years at Intuitive Surgical, where he advanced from a Clinical Specialist to Director of Direct and Indirect Markets across Europe, the Middle East, India, and Africa. Subsequently, he held senior commercial leadership roles at Exact Imaging, EDAP TMS, and eCential Robotics.
Keith Galloway, Vice President of Operations
Keith Galloway joined the Stereotaxis team in 2010 and was promoted to Vice President of Operations in September 2019. He has over 15 years of experience, with a focus on strategy and financial analytics. Before Stereotaxis, he participated in an Executive Development Program and served as a Senior Financial Analyst at Anheuser Busch/InBev. Mr. Galloway is a CFA Charterholder.
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The clear emerging threat to Stereotaxis is the rapid development and adoption of **Pulsed Field Ablation (PFA)** technology. Major medical device companies such as Boston Scientific (with its Farapulse system), Medtronic (with PulseSelect), and Johnson & Johnson (with VARIPULSE) are actively introducing and commercializing PFA systems. PFA represents a fundamentally different and potentially superior ablation modality compared to traditional thermal ablation (radiofrequency and cryoablation) that Stereotaxis's robotic magnetic navigation systems are primarily designed to enhance. PFA promises safer, faster, and potentially more effective treatment for cardiac arrhythmias by creating irreversible electroporation in target tissues while sparing adjacent structures. If PFA becomes the dominant ablation method and is primarily delivered through integrated, manual systems from Stereotaxis's larger competitors, it could diminish the market demand and value proposition for robotic magnetic navigation systems focused on improving traditional thermal ablation, thereby posing a significant threat to Stereotaxis's core business and market share.
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Stereotaxis (STXS) primarily operates within the electrophysiology ablation market and the broader arrhythmia treatment market, offering robotic systems, instruments, and information solutions for minimally invasive endovascular procedures, particularly for cardiac arrhythmias and coronary artery disease.
The addressable markets for Stereotaxis' main products and services are:
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Global Electrophysiology Ablation Market: This market was valued at approximately USD 3.60 billion in 2024 and is projected to reach around USD 9.06 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 8.75% from 2025 to 2035. Another estimate values the global electrophysiology mapping and ablation devices market at USD 6.73 billion in 2024, expected to grow to USD 13.27 billion by 2032, at a CAGR of 8.86%. The market is also projected to grow from USD 4.95 billion in 2025 to USD 8.22 billion by 2035, at a CAGR of 5.2%.
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North American Electrophysiology Ablation Market: North America held the largest share of the global electrophysiology devices market in 2024, accounting for 39.4% of total revenue. The U.S. electrophysiology mapping and ablation devices market alone captured over 81% of North America's revenue in 2024.
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European Electrophysiology Ablation Market: This market is projected to grow from USD 1.24 billion in 2025 to USD 1.98 billion by 2035, with Germany holding a leading market share.
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Japanese Electrophysiology (EP) Market: Approximately 47,000 procedures are performed annually in Japan's EP market, which was expected to grow at an annual rate of 10% through 2018. Japan represents the second-largest medical device market globally, after the U.S.
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Global Arrhythmia Treatment Market: This broader market was valued at USD 15.3 billion in 2024 and is expected to reach USD 26.2 billion by 2035, with a CAGR of 5.02% from 2025 to 2035. Other estimates place the market at USD 18.7 billion in 2024, projected to reach USD 32.4 billion by 2034, registering a CAGR of 5.6%. A separate report estimated the market at USD 8.71 billion in 2024, projected to reach USD 13.78 billion by 2034, growing at a CAGR of 4.7%.
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North American Arrhythmia Treatment Market: This market was valued at USD 6.5 billion in 2023 and is anticipated to grow to USD 10.0 billion by 2032. The U.S. alone accounted for nearly 66% of the North American arrhythmia treatment market in 2024.
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European Arrhythmia Treatment Market: Valued at USD 4.0 billion in 2023, this market is expected to reach USD 6.5 billion.
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Top 7 Major Markets (US, EU4, UK, and Japan) for Cardiac Arrhythmias: This market reached a value of USD 5.1 billion in 2024 and is expected to reach USD 8.7 billion by 2035. The United States holds the largest share within this group.
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Stereotaxis (STXS) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
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Growth in Recurring Revenue from Catheters and Disposables: Stereotaxis anticipates significant growth in its high-margin recurring revenue stream, primarily driven by its proprietary catheters and disposables. The acquisition of APT, alongside the strong reception and increasing adoption of its Map-iT catheter in the US and the European commercial launch of the MAGiC ablation catheter, are expected to fuel this growth. Management has guided recurring revenue to scale to $7 million by the fourth quarter of 2025.
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Increased Sales of GenesisX Robotic Systems: The company's next-generation GenesisX robotic magnetic navigation system is a significant growth driver. Following its CE Mark approval and U.S. FDA clearance, the GenesisX system is expected to increase system sales, particularly in Europe initially, with substantial growth anticipated in 2026.
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Launch and Commercialization of New Interventional Catheters: The FDA clearance of the MAGiC Sweep catheter, Stereotaxis' first interventional catheter approval in nearly 20 years, marks a critical catalyst for revenue growth. This, along with other innovations in its pipeline, is expected to translate into commercial adoption and contribute meaningfully to sales.
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Expansion into New Therapeutic Areas and Geographies: Stereotaxis is strategically focused on innovation and expanding into new markets, such as endovascular surgery platforms. The company is also working on advancing robotic pulsed field ablation for cardiac arrhythmias through collaborations, which could open new revenue streams.
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Enhanced Market Adoption of Robotic Electrophysiology: The broader adoption of Stereotaxis' robotic magnetic navigation technology, which offers improved safety, precision, and stability for complex arrhythmia treatments, is expected to drive overall demand for its systems and consumables. The company's efforts in modernizing interventional cath labs with systems like Synchrony also contribute to this trend.
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Share Issuance
- Stereotaxis completed a registered direct offering in July 2025, raising approximately $12.5 million through the sale of common stock to a strategic industry partner and institutional investors. An initial closing of $8.5 million occurred in July 2025, with a second closing of $4.0 million anticipated by November 25, 2025.
- In July 2024, the company issued 1,486,620 shares of common stock as upfront consideration for the acquisition of Access Point Technologies, with an additional 4,613,380 common shares included in the earnout consideration.
- The number of outstanding shares for Stereotaxis increased by 4.54% year-over-year as of October 6, 2025, reaching 91.07 million shares.
Inbound Investments
- A registered direct offering in July 2025 secured approximately $12.5 million for Stereotaxis, with investments coming from a strategic industry partner and select institutional investors.
Outbound Investments
- On July 31, 2024, Stereotaxis completed the acquisition of Access Point Technologies EP, Inc., a developer of electrophysiology catheters, for approximately $15.1 million.
- The acquisition of Access Point Technologies aims to enhance Stereotaxis' product portfolio with high-quality diagnostic catheters and is expected to contribute approximately $5 million in annual revenue during the first year post-acquisition.
Capital Expenditures
- Capital expenditures were approximately -$35,000 in the last 12 months as of October 6, 2025.
- Quarterly capital expenditures for Stereotaxis were reported as $2,000 for December 2024.
- The company prioritizes disciplined use of funds, focusing capital on accelerating research and development and achieving regulatory milestones to advance its product ecosystem.
