Titan Medical Inc. (TMDI) Appoints Cary G. Vance as President and CEO

Titan Medical Inc. (Nasdaq: TMDI) today announced that Cary G. Vance has been appointed as the company’s President and CEO effective July 1, 2022. Mr. Vance will succeed Paul Cataford, Titan’s chair of the board of directors, who has served as Interim President and CEO since December 2021.

Mr. Vance previously served as President and CEO at Xcath Incorporated, a privately held neurovascular robotics company, and held similar positions at Optiscan Biomedical, and Myoscience. He also served as President and CEO at Hansen Medical, a publicly held intravascular robotics company acquired by Auris Health in 2016, which was subsequently acquired by Johnson & Johnson in 2019. Prior to Hansen Medical, Mr. Vance served in various global executive leadership roles at Teleflex, Covidien (now part of Medtronic) and GE Healthcare. Mr. Vance currently serves as a director of Titan Medical, having first been elected in September 2020.

“After a thorough search and selection process using a top tier recruiting firm and advisor, and after completing a rigorous leadership requirement and assessment analysis, we are pleased to announce that we have selected Cary as our next President and CEO. Cary brings extensive expertise and insights in robotic medical technology and minimally invasive surgery, filling this key leadership role,” said Paul Cataford, Titan’s Interim President and CEO. “It was during the interim management period and the interviewing and assessment of a number of candidates that we determined the final requirements for our next President and CEO, and Cary emerged as the best candidate.”

“I am excited to transition from an oversight position on Titan’s board to an executive position leading the company. I am already familiar with the team and the complexity of the product and the regulatory process, and will be able to take over from Paul quickly and effectively. Having Paul remain as a resource on the board and as chair made it easy to accept the appointment,” said Mr. Vance. “Titan’s innovative technology offers a compelling value proposition for patients, surgeons and hospitals and should enhance the care paradigm for patients seeking minimally invasive surgery through a single access point. I look forward to working with our talented and passionate team as we continue to evolve our business and commercialize our technology. Additionally, I look forward to interacting with investors during our next quarterly financial update.”

Paul Cataford will continue to serve on Titan’s board of directors as board chair. As the board chair is now independent, with Mr. Cataford having served less than 12 months as an interim executive, a lead independent is no longer required.

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