In April 2026, Stereotaxis, listed on the NYSE, announced the acquisition of Rouen-based start-up Robocath for up to $45 million. This transatlantic transaction highlights both the maturity of the French medtech ecosystem and the financing challenges faced by European deeptech companies in scaling up.
Insights and analysis by the experts at AURIS Finance, an M&A and financial advisory firm.
The two medtech companies had been considering a combination for more than a year. The agreement was ultimately reached in April 2026 between Robocath and Stereotaxis, a 150-employee SME based in St. Louis, Missouri.
The transaction includes an upfront payment of $20 million and contingent payments of up to $25 million, linked to regulatory and commercial milestones, notably FDA approval for Robocath’s next-generation system. The acquisition is expected to be completed by June 2026.
Robocath: a French start-up and European reference in coronary robotics
Founded in 2009 by physician Philippe Bencteux, Robocath specializes in robotics for cardiovascular disease treatment.
Its R-One+ system enables cardiologists to remotely manipulate catheters during coronary angioplasty procedures, reducing exposure to X-ray radiation, a major occupational risk in the field.
The R-One+ is currently the only commercially available robotic system in Europe for percutaneous coronary interventions, with 15 systems installed worldwide. Robocath has also obtained CE and NMPA certifications for its robotic solution.
The Normandy-based start-up recently performed its first human procedures in France using its next-generation system designed for coronary artery disease treatment.
Medtech funding challenges in Europe driving consolidation
This acquisition highlights a structural reality of the European medtech sector. Among the companies with which Robocath had discussed a potential deal, raising growth capital remains a major challenge in Europe, given the high cost of development.
“Beyond a certain growth stage, where scaling requires tens of millions of euros, there is no solution in Europe. We had carried out our last fundraising round in China,” said Philippe Bencteux.
Robocath ultimately turned to Stereotaxis, as its founder explains: “It offers both technological and geographical coherence. The company is a leader in cardiac rhythm disorders, which complements our expertise in cardiovascular interventions.”
Strong technological complementarity and strategic U.S. expansion
Stereotaxis uses magnetic navigation technology for endovascular procedures, while Robocath develops mechanical robotic systems. Together, these technologies cover the full spectrum of endovascular procedures, from electrophysiology to interventional cardiology and neurointervention.
Beyond technological complementarity, the deal opens a major strategic market for Robocath. Stereotaxis provides access to the U.S. market, one of the three largest globally alongside China and Europe.
Following the acquisition, Robocath’s teams will remain based in Rouen, and the company will retain its name.
Stereotaxis plans to accelerate the development of Robocath’s next-generation system and submit regulatory approvals in both the United States and Europe over the next two years.
The French start-up is expected to contribute approximately $2 million in annual revenue in its first year within the group, with breakeven targeted within three years.
A fast-growing global medical robotics market
This transaction takes place within a rapidly expanding industry. According to Mordor Intelligence, the global medical robotics market is estimated at $15.47 billion in 2025 and is expected to reach $32.67 billion by 2030, representing a compound annual growth rate of 16.13%.
This structurally growing environment benefits players capable of delivering integrated, high clinical value platforms,precisely the positioning targeted by the combined Stereotaxis–Robocath group.
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