Titan Medical Announces Appointment of New Chief Financial Officer
July 12 2021 - 07:30AM
Business Wire
Titan Medical Inc. (Nasdaq:TMDI; TSX:TMD), a medical
device company focused on the design and development of surgical
technologies for robotic single access surgery, today announced the
appointment of Stephen Lemieux as the Chief Financial Officer of
the Company. Mr. Lemieux has more than 18 years of experience
working in Nasdaq and TSX listed companies primarily focused in the
health care industry. Mr. Lemieux has been involved with or led
numerous debt and equity financings, licensing and M&A
transactions valued at over $400 million. Previously, Mr. Lemieux
served as Chief Financial Officer and Secretary of NeuPath Health
Inc. (TSXV:NPTH). Mr. Lemieux is a Chartered Professional
Accountant and holds a Master of Management & Professional
Accounting degree from the University of Toronto.
“Titan is an innovation leader in robotic single access surgery,
and I believe this is an exciting time to be joining Titan as the
Enos robotic single access surgical system advances toward several
significant milestones. I am pleased to be joining such a talented
and dedicated team,” said Mr. Lemieux. “I look forward to providing
my financial expertise and capital markets experience to support
Titan’s goals and upcoming milestones.”
“We are excited to welcome Stephen to Titan,” said David
McNally, President and Chief Executive Officer. “His wealth of
knowledge and experience will be instrumental in helping Titan
evolve our financial systems and capital markets strategy, achieve
upcoming milestones, and executing upon our vision.”
CFO Transition Current CFO, Monique
Delorme, will be leaving the Company effective immediately;
however, Ms. Delorme will be retained in an advisory capacity
through March 2022 to ensure a smooth transition.
"We would like to thank Monique for her contributions to Titan
through a period of great change. Despite the COVID-19 pandemic,
during the past 12 months we executed development and license
agreements with Medtronic, built out and staffed a research and
development facility in Chapel Hill, North Carolina and completed
several financings, all of which would not have been possible
without Monique’s support,” said David McNally. “We are grateful
for her commitment and tireless effort and consummate
professionalism through this transition period.”
Ms. Delorme said, “It has been a privilege to work alongside
David and the talented team at Titan. I have great confidence in
the company’s ability to achieve its strategic and financial goals
and believe Titan is well-positioned to capitalize on opportunities
for value creation. I am grateful for my time at the company and
look forward to working with the leadership and finance teams to
ensure a seamless transition.”
About Titan Medical Inc. Titan Medical Inc. is a medical device
company headquartered in Toronto, Ontario and with R&D
facilities in Chapel Hill, North Carolina, is focused on enhancing
robotic assisted surgery using innovative technology through a
single access point. The Enos™ robotic single access surgical
system is being developed with an ergonomic focus to provide a
surgical experience that imitates real-life movements that surgeons
demand, and includes multi-articulating instruments designed to
allow surgeons an increased range of motion in a confined space,
with dexterity and the ability to exert the forces necessary to
complete common surgical tasks. With the Enos system, Titan intends
to initially pursue gynecologic surgical indications. Certain of
Titan’s robotic assisted surgical technologies and related
intellectual property have been licensed to Medtronic plc, while
retaining world-wide rights to commercialize the technologies for
use with the Enos system.
Enos™ is a trademark of Titan Medical Inc.
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, 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, including,
without limitation, references to: the Company’s focus on the
design and development of surgical technologies for robotic single
access surgery, the Enos system is being developed with dual 3D and
2D high-definition vision systems, multi-articulating instruments
and an ergonomic surgeon workstation, and that Titan intends to
initially pursue gynecologic surgical indications. These statements
reflect management’s current beliefs, 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 and Form 40-F for the fiscal year ended December
31, 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/20210712005116/en/
Kristen Galfetti Vice President, Investor Relations &
Corporate Communications +1-781-869-2553
investors@titanmedicalinc.com
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