June 11, 2020
Phillip L. McStotts has been appointed to Titan Medical’s Board of Directors, effective immediately. As a financial expert with Certified Public Accountant (CPA) and Certified Global Management Accountant (CGMA) credentials, Mr. McStotts will also be a member of the Audit Committee of the Board of Directors.
Philip L. 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.
“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, Titan’s Chairman, and Chief Executive Officer. “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.”