– CANADA, Toronto – Titan Medical Inc. (TSX: TMD | Nasdaq: TMDI), a medical device company focused on the design and development of single-port robotic surgical technologies, today announced the appointment of Phillip McStotts, to the Board of Directors, effective immediately.
“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, Chairman and CEO. “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.”
As a financial expert with Certified Public Accountant and Certified Global Management Accountant credentials, Mr. McStotts will also be a member of the Audit Committee of the Board of Directors.
About Phillip McStotts
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 a significant premium to market.
About Titan
Titan Medical Inc. is focused on robotic-assisted technologies for application in minimally invasive surgery. 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: https://titanmedicalinc.com
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