Titan Medical names Cary G. Vance as president, CEO

Titan Medical announced that it appointed Cary G. Vance as its new president and CEO.

Vance will succeed Titan chair of the board of directors, Paul Cataford, who had served as interim president and CEO since December 2021, when David McNally, who previously held the corner office, resigned. Vance’s appointment was made effective today.

“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,” Cataford said in a news release. “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.”

Vance previously held the position of president and CEO at Xcath, a privately held neurovascular robotics company, having also served in similar roles at Optiscan Biomedical and Myoscience.

He was also president and CEO at Hansen Medical, a publicly held intravascular robotics company acquired by Auris Health in 2016 before Auris was acquired by Johnson & Johnson in 2019. Other companies at which he held executive leadership roles include Teleflex, Covidien (acquired by Medtronic) and GE Healthcare.

Vance currently serves as a director of Titan Medical, having first been elected in September 2020. Cataford will continue to serve on Titan’s board as chair and, as the board chair is now independent (with Cataford having served less than 12 months as an interim executive), a lead independent is no longer required.

“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,” Vance said. “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.” MassDevice