Stereotaxis (STXS) agreed to acquire Access Point Technologies EP or APT, a privately-held Minnesota-based developer of innovative electrophysiology catheters.
The transaction consideration includes an upfront payment and additional contingent payments based upon the achievement of key regulatory and commercial milestones. All consideration is payable in Stereotaxis common stock.
Stereotaxis currently estimates that Access Point Technologies will contribute approximately $5 million in annual revenue during the first year post-acquisition.
The acquisition is expected to close in the third quarter.
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