Industry Veterans Join Stereotaxis Commercial Leadership Team as Company Advances Robust Innovation Pipeline

Rhea-AI Summary

Stereotaxis (NYSE: STXS) announced enhancements to its commercial leadership team with two experienced executives, Frank Van Hyfte and Tim Glynn. Van Hyfte will serve as VP for Europe, the Middle East, and Africa, bringing over 15 years of experience from Intuitive Surgical. Glynn joins as VP of Market Development, previously with Acutus Medical. Both leaders aim to increase commercial growth and build a robust product ecosystem for Stereotaxis, which specializes in robotic technologies for minimally invasive endovascular procedures.

Positive

• Recruitment of Frank Van Hyfte and Tim Glynn strengthens the leadership team.
• Van Hyfte's extensive experience in robotic surgery enhances commercial strategy.
• Glynn's background in electrophysiology positions Stereotaxis for market growth.

Negative

• None.

ST. LOUIS, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today announced the significant enhancement of its commercial leadership team with the successful recruitment of two veterans of the medical device, surgical robotics and electrophysiology fields.

Joining Stereotaxis are experienced commercial leaders with relevant and complementary expertise:

• Frank Van Hyfte is joining as Vice President of Europe, the Middle East and Africa. Mr. Van Hyfte spent over 15 years at Intuitive Surgical, the global leader in robotic surgery, between 2000 and 2016. While at Intuitive Surgical he rose in responsibility from the role of a Clinical Specialist to Director of Direct and Indirect Markets in Europe, the Middle East, India and Africa. He subsequently served in senior commercial leadership roles at Exact Imaging, EDAP TMS, and eCential Robotics.
• Tim Glynn is joining as Vice President, Market Development. Mr. Glynn most recently served as Vice President of Business and Market Development at Acutus Medical, an innovator in the electrophysiology mapping and ablation field. His responsibilities evolved from establishing commercial beachheads in Europe and the United States to managing product marketing, physician relationships and business partnerships. Prior to Acutus Medical, he served in senior marketing roles at Volcano Corporation, a leader in intravascular imaging for coronary and peripheral interventions.

“We see in Stereotaxis the opportunity to build a preeminent robotic surgery company that positively transforms electrophysiology specifically and endovascular surgery more broadly,” said Mr. Van Hyfte and Mr. Glynn in a joint statement. “We join Stereotaxis at a fitting time as it establishes the product ecosystem that can allow for substantial commercial growth. We look forward to working together with the existing Stereotaxis team in building a highly impactful commercial organization.”

The expertise of these new commercial leaders will complement Stereotaxis’ existing commercial leadership: Michael Tropea, Vice President of North America, and Casey Payne, Vice President of Asia Pacific. Mr. Tropea leads Stereotaxis’ commercial teams in North America and has been instrumental in establishing Stereotaxis’ capital sales processes, restarting capital adoption, and managing various marketing and business development initiatives. Mr. Payne leads Stereotaxis’ Asia Pacific and Global Training teams and has been central to the resurgence in commercial adoption in Asia and advancement of Stereotaxis’ strategic collaborations in China.

“Stereotaxis has been energetically advancing a robust innovation pipeline that enables significant adoption of robotics across electrophysiology and endovascular surgery. In preparation for these product launches, we are assembling the right commercial leadership and establishing the commercial foundations for significant growth,” said David Fischel, Chairman and CEO. “We are excited to welcome Frank and Tim to the Stereotaxis team and look forward to their contributions as leaders in our efforts to pioneer endovascular robotics.”

About Stereotaxis
Stereotaxis is the global leader in innovative robotic technologies designed to enhance the treatment of arrhythmias and perform endovascular procedures. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, expand access to minimally invasive therapy, and enhance the productivity, connectivity, and intelligence in the operating room. Stereotaxis technology has been used to treat over 100,000 patients across the United States, Europe, Asia, and elsewhere. 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. Factors that would cause or contribute to such differences include, but are not limited to, the Company's ability to manage expenses at sustainable levels, 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 technology, competitive factors, changes resulting from healthcare policy, dependence upon third-party vendors, timing of regulatory approvals, the impact of pandemics or other disasters, 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 because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company's control and may be revised, modified, delayed, or canceled.

Investor Contacts:	Media Contact:
David L. Fischel	Bethanne Schluter
Chairman and Chief Executive Officer	Director, Marketing & Communications
	314-678-6213
Kimberly Peery	B.Schluter@Stereotaxis.com
Chief Financial Officer
314-678-6100
Investors@Stereotaxis.com

FAQ

What leadership changes were announced by Stereotaxis on August 2, 2022?

Stereotaxis announced the hiring of Frank Van Hyfte as VP for Europe, the Middle East, and Africa, and Tim Glynn as VP of Market Development.

How will the new hires impact Stereotaxis's commercial growth?

The new leaders aim to enhance Stereotaxis's commercial strategy and build a product ecosystem to drive substantial growth.

What expertise do the new leaders bring to Stereotaxis?

Frank Van Hyfte brings over 15 years of experience in robotic surgery, while Tim Glynn has significant experience in electrophysiology and market development.