Titan Medical Inc. Appoints John T. Hargrove to Its Board of Directors
TORONTO, ONTARIO -- (MARKET WIRE) -- 09/14/10 -- Titan Medical Inc. ("the Company") (TSX VENTURE: TMD) announced today the appointment of John T. Hargrove, a health care industry veteran, to its Board of Directors, effective immediately.
John T. Hargrove, currently a principal with H & H Consulting Group, has over 30 years of executive-level health care experience. The majority of his distinguished health care career was spent with the Johnson & Johnson Family of Companies where he held positions of increasing responsibility in sales, marketing and corporate account management at Ethicon, Ethicon Endo-Surgery and Johnson & Johnson Health Care Systems. During his final position with Johnson & Johnson as Vice President of Corporate Accounts, Mr. Hargrove developed and led one of the first and most effective corporate sales programs in the health care industry.
Following Johnson & Johnson, Mr. Hargrove joined Ohmeda Inc. as President, Corporate Account Management. While at Ohmeda, he successfully developed and implemented a multi-divisional corporate sales program, resulting in multi-year contracts with the majority of the largest Group Purchasing Organizations in the United States. Under Mr. Hargrove's supervision, Ohmeda's Corporate Account Division assisted buying groups, hospitals and integrated delivery networks in overall business and strategic planning and helped numerous customers who were under pressure to measure quality healthcare according to business as well as clinical and safety outcomes. Mr. Hargrove's trusted partners included major health care decision-makers who needed professional expert advice in evaluating not just product price, but the overall cost of an "episode of care" such as a perioperative procedure (from pre-operative care to recovery).
Craig Leon, Chairman and CEO of Titan Medical, commented, "We are pleased that John has accepted our invitation to join our Board. His strong sales and marketing background and expertise in working with leading healthcare companies, hospitals and integrated delivery networks will provide Titan Medical with valuable insight and perspective to aid in positioning us for the future."
John T. Hargrove added, "This is an exciting time for Titan Medical as the Company continues to make progress with its revolutionary robotic surgical technology and to gain greater industry recognition. I am impressed with the executive team and intellectual property the Company has assembled and believe my expertise will complement the existing Board of Directors."
Mr. Hargrove holds a Bachelor of Arts degree in Marketing from the University of Georgia and has completed executive management programs at Duke, Harvard and the University of Michigan. He is currently a member of the Columbus State University Athletic Board, the Fellowship of Christian Athletes Board, Columbus Sports Council, Partners in Education Board, Goodwill Industries Board, Chair-Columbus State University Theatre Board. Previously, he served on the Advisory Board for The University of Texas Medical Branch (UTMB) School of Allied Sciences, and the Association of Operating Room Nurses.
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company (TSX VENTURE: TMD) focused on the development and commercialization of robotic surgical technologies. The Company is currently developing Amadeus™, a next generation 4-armed robotic surgical system, with the objective of enabling surgeons to remotely manipulate surgical instruments. Robotic surgery has developed over the past 10 years into a proven and growing method of treatment. The global robotic surgical market size is currently estimated to be over $1 billion with potential for placement of 6,000 robotic surgical systems. The Company is researching and developing innovative technologies to empower surgeons to use robots in the operating room of the future. For more information, visit the Company's website at www.titanmedicalinc.com.
Forward Looking Statements
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" 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 April 9, 2010 (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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Titan Medical Inc. Craig Leon Chief Executive Officer (416) 548-7522 (ext. 151) cleon@titanmedicalinc.com ICR, LLC Sherry Bertner Managing Director (646) 277-1200 Sherry.Bertner@icrinc.com
Released September 14, 2010