Stereotaxis, identified by the ticker STXS, has reached an agreement to purchase Access Point Technologies EP, privately owned and known for developing innovative electrophysiology catheters out of Minnesota.
The acknowledged payment for the transaction includes an initial amount and additional contingent payments, which will depend on key regulatory and commercial milestones. Importantly, all payments will be made through Stereotaxis common stock.
In an evaluation, Stereotaxis estimates that Access Point Technologies will contribute approximately $5 million in yearly revenue during their first year after the acquisition.
The acquisition, meanwhile, is slated to finalize within the third quarter.
