Titan Medical Names Prominent Medical Technology Executive as Board Chairman

Titan Medical Inc., 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), has appointed Charles W. Federico, 70, as board chairman, effective immediately. 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.
 
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 Corp. in 2013 for $1.65 billion. Prior to that, 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 CEO. “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.”
 
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.”
 
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. Federico earned a bachelor of science degree in marketing from Fordham University.
 
Titan 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.