BioTuesdays: Stereotaxis sees Japanese reimbursement by year end
After receiving regulatory clearance in Japan of its Niobe Remote Magnetic Navigation system for cardiac ablations last March, Stereotaxis (NASDAQ:STXS) now expects to achieve reimbursement approval by the end of the year to support a full market launch.
“The Japanese market is the second largest for medical devices—behind the U.S.—and represents a significant growth opportunity for us,” CFO Martin Stammer says in an interview with BioTuesdays.
“Our entry into Japan will provide opportunities for meaningful growth in the Asia Pacific region and marks a major step toward achieving our vision of becoming the first choice in the treatment of complex electrophysiology (EP) ablations for the global marketplace,” he adds.
Stereotaxis is best known for its Epoch platform, which develops robotic cardiology instrument navigation systems designed to enhance ablation procedures for the treatment of arrhythmias and coronary disease.