In which sector is your company most closely aligned?
What does your company do?
Stereotaxis is a pioneer and global leader in robotics for minimally invasive endovascular surgery. Our robots use precise computer-controlled magnetic fields to give physicians improved control of endovascular catheters used in minimally-invasive heart surgery. This allows for greater surgical precision and stability, improves safety, and enables treatment for patients that would otherwise have no good alternatives.
How long has your company had a presence in St. Louis?
Stereotaxis has been in St. Louis for over 20 years.
What makes the St. Louis region an ideal home for your company/organization? Why do you choose to operate your business here?
We moved to St. Louis in the early stages of our development. We have benefited from St. Louis’ strong technical talent, the proximity of leading physicians and healthcare systems, and a supportive financial community. Barnes-Jewish was one of the earliest partners in helping our technology develop and prove itself clinically.
What has been the most valuable resource (person, tool, organization) for helping your company grow? How did you find it? How do you utilize it?
What advice would you give new tech companies that are trying to navigate the current market?
The capital market environment has shifted dramatically over the last year from one which rewarded growth at (almost) any cost, to one where companies need to demonstrate sustainable independent business models. In this environment smaller companies will have an easier time navigating the capital markets the more they can demonstrate a solid financial foundation, long cash runway, and the ability to be self-sustainable without relying on external capital.
What new practice or policy did you put into place over the pandemic that has positively impacted your company?
One of the strengths of our technology is it’s ability to facilitate remote telerobotic collaboration and participation in the operating room. We have used this extensively to provide physicians with technical and clinical support during procedures. It allowed us to better care for the patients and physicians that rely on our technology in real time even when travel was difficult and reducing hospital-exposure was desired. We are continuing to invest and expand our connectivity solutions to make this type of capability broadly available for operating rooms.
Tell us about the next big thing in your technology sector. How will this affect your business?
In the medical device field two of the biggest secular trends are the move towards less invasive surgeries and the digitization of the operating room. Stereotaxis stands at the intersection of both trends as we are pioneering robotics in minimally-invasive endovascular surgery. Medicine generally evolves gradually but it is exciting being able to participate in these dual efforts to improve medical care.
What is the accomplishment you are most proud to share from 2022?
This past year we celebrated establishing our new headquarters and manufacturing facility at the Globe in downtown, launched for the first time in many years several new robotic hospital programs globally, and advanced several meaningful innovations that will positively impact patients, customers and our company in the coming years.
What exciting development is on the horizon for your company in 2023?
In 2023 we expect to launch several technologies that we believe will have a significant positive impact on patients, our physicians and hospital customers, and our company. These include a newer robotic system that will make our technology more broadly accessible, a new catheter for treating heart rhythm disorders, and devices that expand our robotic technologies positive impact into new areas such as the treatment of stroke.
How can people learn more about your company or get involved in what you are doing?
Visit our website, follow us on social media, and don’t hesitate to send us a message!