Odyssey Cinema(TM) Represents an Important Expansion of Stereotaxis' Odyssey(TM) Information Management Platform ST. LOUIS, Oct. 23
ST. LOUIS, Oct. 23 /PRNewswire-FirstCall/ -- Stereotaxis, Inc.
(Nasdaq: STXS) announced today that it is now commercially selling its Odyssey
Cinema system. Introduced at Heart Rhythm 2008, and now available for sale,
Odyssey Cinema is Stereotaxis' data management solution for remote viewing and
recording of live interventional cases. Odyssey Cinema enables physicians to
remotely view real-time high definition images of a procedure. It includes a
powerful archiving capability that will allow clinicians to store and replay
entire procedures or segments of procedures. Odyssey Cinema also provides
physicians with a significant new tool for clinical collaboration, remote
consultation, and training through the global Odyssey network.
Dr. Andrea Natale, a leading expert on atrial fibrillation and Executive
Medical Director of the Texas Cardiac Arrhythmia Institute at St. David's
Medical Center in Austin, Texas, recently installed Odyssey in his Niobe lab.
"Odyssey is the most advanced platform of its kind," said Dr. Natale. "It
consolidates the several data sources involved in each procedure that would
otherwise be stored in different places. For training and consultation, this
is unprecedented. I expect it to transform the way our labs operate, and it
will improve patient care. I also expect that other centers with which I
collaborate will purchase Odyssey to enable real-time exchange of procedure
information."
With the availability of Odyssey Cinema, and with interest in the Odyssey
system growing beyond the installed base of Niobe(R) Magnetic Navigation
Systems, Stereotaxis is expanding its Odyssey sales program to reach a broader
range of interventional labs, of which there are believed to be more than
2,000 worldwide in electrophysiology alone.
"We built the Odyssey System as an information management platform to be
used in interventional labs, and it is gaining clear traction in the
marketplace," said Bevil Hogg, CEO of Stereotaxis. "We believe hospitals are
continuing to make significant investments in their electrophysiology
departments, particularly for technologies that have the potential to improve
efficiency, and sales of the Odyssey system have been a growing contributor to
our revenue in 2008. With our expanded sales effort taking Odyssey beyond the
Niobe installed base, we expect that Odyssey Workstation and Odyssey Cinema
sales will play an important role in revenue growth in 2009 and beyond. The
two products have a combined list price of $450,000, and are expected to
generate for Stereotaxis incremental annual software, license, service and
network connection fees."
About Odyssey
The Odyssey portfolio of products is an innovative new information
management solution that consolidates the systems in an electrophysiology lab,
greatly improving the ergonomics for the physician and increasing their focus
on critical patient information. Typically, interventional physicians are
faced with the challenge of interacting simultaneously with multiple systems
and diverse sources of diagnostic and imaging information during a procedure.
Odyssey consolidates all of these sources of information into a single,
manageable format, dramatically simplifying the interventional lab and
potentially bringing greater simplicity and efficiency to electrophysiology
procedures. The system also features a remote viewing and recording
capability, called Odyssey Cinema, that simultaneously captures all of the lab
information from multiple labs at a time. This information can be accessed
from locations throughout the hospital local area network and over the global
Odyssey Network.
About Stereotaxis
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. The core components of the Stereotaxis
system have received regulatory clearance in the U.S., Europe and Canada.
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,
continued acceptance for the Company's products in the marketplace,
competitive factors, changes in government reimbursement procedures,
dependence upon third-party vendors, 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.
