Stereotaxis Appoints William C. Mills III to Chief Executive Officer
February 14 2014 - 6:30AM
Stereotaxis, Inc. (Nasdaq:STXS) announced today that its board of
directors has appointed Chairman William C. Mills III to Chief
Executive Officer, effective February 12, 2014. Mr. Mills has been
serving as interim CEO since April 2013.
"Stereotaxis is now poised to build on our history of product
innovation that can result in major advances in the delivery of
patient cardiac therapies," said Fred A. Middleton, Director. "We
believe Bill is the right person to lead these initiatives during
the next phase of our Company's development."
"As Chairman of Stereotaxis, I am very mindful of our potential
as a leading innovator and provider of clinically validated robotic
technology in the expanding global market for complex cardiac
electrophysiology (EP) procedures, a market that is trending
towards automation," said William Mills, Stereotaxis Board Chairman
and Chief Executive Officer. "With the substantial recent progress
we have made to strengthen the Company's financial position, we are
increasingly focused on furthering our product innovation to
improve patient outcomes, and I am very excited about the growth
opportunities that we see ahead."
Mr. Mills has served on the Stereotaxis Board of Directors since
June 2000 and was elected Chairman in May 2012. He has more than 30
years experience as a venture capitalist with an emphasis on
science-based medicine and medical technology. Mr. Mills currently
serves as a director on a number of venture capital, corporate and
advisory boards, in addition to his role with Stereotaxis. He holds
graduate degrees in Chemistry and in Management from MIT and an
A.B. in Chemistry from Princeton University.
About Stereotaxis
Stereotaxis is a healthcare technology and innovation leader in
the development of robotic cardiology instrument navigation systems
designed to enhance the treatment of arrhythmias and coronary
disease, as well as information management solutions for the
interventional lab. With over 100 patents for use in a hospital's
interventional surgical suite, Stereotaxis helps physicians around
the world provide unsurpassed patient care with robotic precision
and safety, improved lab efficiency and productivity, and enhanced
collaboration of life-saving information. Stereotaxis' core Epoch™
Solution includes the Niobe® ES Remote Magnetic Navigation system,
the Odyssey® portfolio of lab optimization, networking and patient
information management systems and the Vdrive™ Robotic Mechanical
Navigation system and consumables.
The core components of Stereotaxis systems have received
regulatory clearance in the U.S., Europe, Canada and elsewhere. The
V-Sono™ ICE catheter manipulator has received U.S. clearance, and
the V-Loop™ circular catheter manipulator will soon be submitted
for review by the U.S. Food and Drug Administration. For more
information, please visit www.stereotaxis.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, the
Company's ability to raise additional capital on a timely basis and
on terms that are acceptable, its ability to continue to manage
expenses and cash burn rate at sustainable levels, its ability to
continue to work with lenders to extend, repay or refinance
indebtedness on acceptable terms, 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 its systems and the timing of such purchases, the outcome
of various shareholder litigation filed against Stereotaxis,
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.
CONTACT: Company Contact:
Marty Stammer
Chief Financial Officer
314-678-6155
Investor Contact:
Todd Kehrli / Jim Byers
MKR Group, Inc.
323-468-2300
stxs@mkr-group.com