Stereotaxis Inc. (STXS)

[semi_infinite]

Seems awfully cheap here given the installed base of around 180 systems. Service and maintenance revenue alone is $100K per year. Systems are under utilized when averaged over the whole base somewhere around 1 procedure per week. Usage distribution is bimodal with VT ablation coming up everywhere. Say $150K total revenue per system per year currently at 70-80% gross margin. That would be $18M cash flow per year to an interested buyer if the company shutter all new system sales. Just in western EU, there are 400,000 vt patients with ICD/CRT implants and only 5% of them get ablation now when ischemic VT represent >50% of them. All of them should have ablation as an option ideally but there aren't enough expertise to go around. And that is just western EU. USA is the bigger boat with a similar problem of not enough expertise and STXS tool.