Stereotaxis to Establish Global Headquarters in Downtown St. Louis Globe Building
Stereotaxis (STXS) announced the relocation of its global headquarters to the Globe Building in downtown St. Louis by the end of this year. This move aims to modernize the organization and support significant growth. The new facility will enhance collaboration among employees and triple the surgical robot manufacturing capacity. The Globe Building is strategically positioned within St. Louis' Innovation District, alongside other technology firms like Square and T-Rex. This change is expected to boost Stereotaxis' healthcare technology initiatives and contribute to the revitalization of the local community.
- Relocation to Globe Building enhances collaboration and aims to support significant growth.
- Three-fold increase in surgical robot manufacturing capacity planned.
- Strategic location in Innovation District promotes technological partnerships.
- Uncertainty regarding the timing and impact of the headquarters move on operational efficiency.
- Potential financial risks tied to cash burn and expense management amid relocation.
ST. LOUIS, March 08, 2021 (GLOBE NEWSWIRE) -- Stereotaxis (NYSE: STXS), the global leader in innovative robotic technologies for the treatment of cardiac arrhythmias, today announced it will move its global headquarters to the Globe Building in downtown St. Louis at the end of this year.
“Establishing our new headquarters at the Globe is another exciting step in our effort to modernize every aspect of Stereotaxis and build a foundation to support years of significant growth,” says David Fischel, Stereotaxis Chairman and CEO. “Our new space is being designed to support improved collaboration across an expanding team along with a three-fold expansion of our surgical robot manufacturing capacity.”
Referred to as “The Hi-Tech Castle,” the Globe Building is located in downtown St. Louis’ Innovation District. The building is home to a range of technology companies where robust connectivity infrastructure and cybersecurity is required. Stereotaxis’ neighbors in the downtown tech corridor will include merchant services tech giant, Square, who announced their move downtown in 2019, T-Rex, the technology incubator serving more than 200 startups and organizations, as well as the new National Geospatial-Intelligence Agency (NGA) West campus.
“We are delighted to partner with and support Stereotaxis in their vision to advance healthcare with robotics, technology, and connectivity,” says Steve Stone, owner of the Globe Building. “We look forward to welcoming them into our community and having them contribute to the revitalization of downtown St. Louis.”
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, improved lab efficiency and productivity, and enhanced integration of procedural information. The core components of Stereotaxis’ systems have received regulatory clearance in the United States, European Union, Japan, Canada, China, 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 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 continue to manage expenses and cash burn rate at sustainable levels, 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, competitive factors, changes resulting from healthcare policy in the United States, including changes in government reimbursement of procedures, dependence upon third-party vendors, timing of regulatory approvals, the impact of the recent coronavirus (COVID-19) pandemic and our response to it, 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.
Company Contacts:
David L. Fischel
Chairman and Chief Executive Officer
Kimberly Peery
Chief Financial Officer
314-678-6100
investors@stereotaxis.com
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