04:22 PM EDT, 05/13/2024 (MT Newswires) -- Stereotaxis ( STXS ) agreed to buy Access Point Technologies, a closely held developer of electrophysiology catheters, for an undisclosed amount of stock.

The purchase includes an upfront payment and contingent payments linked to the achievement of regulatory and commercial milestones, Stereotaxis ( STXS ) said Monday in a statement.

Rogers, Minnesota-based Access Point Technologies probably will contribute $5 million in annual revenue in the first year after the acquisition, Stereotaxis ( STXS ) said.

The deal is expected to close in Q3.

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