Titan Medical Appoints Phillip L. McStotts, CPA, CGMA to Board of Directors
June 11 2020 - 7:30AM
Business Wire
Titan Medical Inc. (“Titan” or “Titan Medical”)
(TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the
design and development of single-port robotic surgical
technologies, announces the appointment of Phillip L. McStotts, age
62, to the Company’s Board of Directors, effective immediately. As
a financial expert with Certified Public Accountant (CPA) and
Certified Global Management Accountant (CGMA) credentials, Mr.
McStotts will also be a member of the Audit Committee of the Board
of Directors.
Mr. McStotts is a successful entrepreneur with 30 years of
experience in the medical device industry, having been a Chief
Financial Officer in both public and private companies. He has
co-founded start-up companies that have commercialized
best-in-class surgical, life and organ support, diagnostic and
home-care capital equipment and disposables. He has raised
investment capital from institutional and retail investors, angel
investors, venture capital, private equity, strategic partners, and
a healthcare royalty fund. Mr. McStotts negotiated a reverse-merger
into a public company and thereafter transitioned the company from
the OTC to Nasdaq trading, and ultimately negotiated its sale to a
strategic partner at significant premium to market.
“We are delighted to welcome Phillip to Titan’s Board and look
forward to leveraging his capital markets experience, financial
acuity, and industry knowledge,” said David McNally, Titan’s
Chairman and Chief Executive Officer. “Building on the momentum of
our recent success in executing the development and license
agreements with Medtronic, the closing of our most recent
financing, and settlement of pending litigation, we are excited to
turn our attention to execution toward our milestones. I am
confident that Phillip will be invaluable to us in many areas,
including capital markets strategy, financial planning and
oversight, corporate governance and human resource management.”
About Titan
Titan Medical Inc. is focused on robotic-assisted technologies
for application in minimally invasive surgery (“MIS”). Titan is
developing a single-port robotic surgical system comprised of a
surgeon-controlled patient cart that includes a dual-view camera
system with 3D and 2D high-definition vision systems and
multi-articulating instruments for performing MIS procedures, and a
surgeon workstation that provides an ergonomic interface to the
patient cart and a 3D high-definition endoscopic view of the MIS
procedure. Titan intends to initially pursue gynecologic surgical
indications for use with its single-port robotic surgical
system.
For more information, visit www.titanmedicalinc.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of applicable Canadian and U.S. securities laws. Such
statements reflect the current expectations of management of the
Company’s future growth, results of operations, performance and
business prospects and opportunities. Wherever possible, words such
as “may”, “would”, “could”, “will”, “anticipate”, “believe”,
“plan”, “expect”, “intend”, “estimate”, “potential for” and similar
expressions have been used to identify these forward-looking
statements. These statements reflect management’s current beliefs
with respect to future events and are based on information
currently available to management. Forward-looking statements
involve significant risks, uncertainties and assumptions. Many
factors could cause the Company’s actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, without limitation,
those listed in the “Risk Factors” section of the Company’s Annual
Report on Form 20F dated March 30, 2020 (which may be viewed at
www.sedar.com and at www.sec.gov). Should one or more of these
risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results, performance, or achievements may vary materially from
those expressed or implied by the forward-looking statements
contained in this news release. These factors should be considered
carefully, and prospective investors should not place undue
reliance on the forward-looking statements. Although the
forward-looking statements contained in the news release are based
upon what management currently believes to be reasonable
assumptions, the Company cannot assure prospective investors that
actual results, performance or achievements will be consistent with
these forward-looking statements. Except as required by law, the
Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200611005435/en/
Stephen Randall Chief Financial Officer +1-416-548-7522
stephen@titanmedicalinc.com
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