Titan Medical Names Prominent Medical Technology Executive Charles Federico as Chairman of the Board
May 01 2019 - 7:00AM
Business Wire
Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD)
(Nasdaq: TMDI), a medical device company focused on the design,
development and commercialization of a robotic surgical system for
application in single-port minimally invasive surgery (“MIS”),
announces the appointment of Charles W. Federico, age 70, as
Chairman of the Company’s Board of Directors, effective
immediately. Mr. Federico is assuming the Board seat held by Bruce
Wolff, M.D. who has resigned from the Board and is being retained
as a Senior Advisor to the Company. Current Chairman John Barker
will continue to serve as a Director and as Audit Committee
Chair.
Both gentlemen will stand for re-election at Titan’s Annual
General Meeting in May 2019.
Mr. Federico has 46 years of experience in the medical device
industry. As a Director of MAKO Surgical Corp., he served as
Chairman, Lead Director, Compensation Committee Chairman,
Governance Committee Chairman and an Audit Committee Member from
2007 to 2013. MAKO, a developer of minimally invasive
robotic-enabled techniques for knee surgery, was acquired by
Stryker in 2013 for $1.65 billion. Prior to that, Mr. Federico was
President at Orthofix International N.V. from 1996 to 2006 and was
also CEO beginning in 2001. From 1988 to 1996 he was President and
General Manager at Smith & Nephew Endoscopy (formerly Dyonics,
Inc.), and from 1981 to 1985 he served as Vice President of Dyonics
and as Director of Marketing.
“We are delighted to welcome Charlie to Titan’s Board and look
forward to leveraging his considerable experience and industry
knowledge,” said David McNally, Titan’s Chief Executive Officer.
“Titan Medical faces significant milestones this year, including
our preclinical and human confirmatory studies to support
submissions later this year to the U.S. Food and Drug
Administration and to European regulatory authorities for clearance
of our single-port robotic surgery system. We believe that
Charlie’s wealth of knowledge will be invaluable to us in many
areas, from corporate governance and strategic planning, to
regulatory and commercial perspectives.”
Mr. McNally added, “On behalf of the Board of Directors, we
would like to thank Bruce Wolff for his five years of board service
to Titan Medical. As Professor of Surgery, Mayo Clinic College of
Medicine and Emeritus Chair of the Division of Colon & Rectal
Surgery, his perspective as a surgeon have been important. We are
pleased that Titan will continue to benefit from his contributions
and counsel as a Senior Advisor to the Company.”
Mr. Federico currently serves as a Director of Active Implants
Corporation. Past Board positions include Director of Orthofix
International, Chairman of SRI Surgical Express Inc., Director of
LENSAR, Inc., Director of Salumedica, Presiding Director of Power
Medical Interventions, Inc. (acquired by Covidien) and Director at
BioMimetic Therapeutics Inc. (acquired by Wright Medical).
He has served on the Board of Trustees of the Orthopaedic
Research and Education Foundation and as an Advisory Member/Trustee
to the School of Biomedical Engineering at Virginia Tech and Wake
Forest University. He was a Founding Trustee and a Member of Board
of the American Sports Medicine Institute. Mr. Federico received a
B.S. in Marketing from Fordham University.
About Titan MedicalTitan Medical Inc. is focused on
computer-assisted robotic surgical technologies for application in
MIS. The Company is developing the SPORT Surgical System, a
single-port robotic surgical system comprised of a
surgeon-controlled patient cart that includes a 3D high-definition
vision system and multi-articulating instruments for performing MIS
procedures, and a surgeon workstation that provides an advanced
ergonomic interface to the patient cart and a 3D endoscopic view
inside the patient’s body. Titan intends initially to pursue
focused surgical indications for the SPORT Surgical System, which
may include one or more of gynecologic, urologic, colorectal or
general abdominal procedures.
For more information, please visit the Company’s website at
www.titanmedicalinc.com.
Forward-looking statements of Titan medical Inc.This news
release contains “forward-looking statements” which 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
Information Form dated March 31, 2019 (which may be viewed at
www.sedar.com). 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190501005113/en/
LHA Investor RelationsKim Sutton Golodetz(212)
838-3777kgolodetz@lhai.comorBruce Voss(310)
691-7100bvoss@lhai.com
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