TEL AVIV, Israel and
FORT LAUDERDALE, Fla.,
Sept. 9, 2021 /PRNewswire/
-- Memic Innovative Surgery Ltd. (the "Company" or "Memic"), a
medical device company dedicated to transforming surgery with its
proprietary surgical robotic technology, today announced that
Robert L. Ryan and Sandra Morgan have agreed to join the company's
board of directors. Ryan and Morgan, who served in leadership roles
at companies including Medtronic and HCA, respectively, will join
the board pending the closing of the business combination agreement
between Memic and MedTech Acquisition Corporation (Nasdaq: MTAC)
("MedTech") currently anticipated for Q4 2021.
"We are very pleased to welcome Bob and Sandra to our board
during an important time in Memic's evolution as we plan for many
important milestones and expand the commercial opportunities with
our Hominis® platform, a technology that has the potential to
transform the way surgeons perform robot-assisted procedures," said
Dvir Cohen, co-founder and chief
executive officer of Memic. "Bob is a recognized senior executive
with extensive experience in building technology businesses. We
believe his operational and financial experience, including serving
as CFO at Medtronic, will be a vital asset as we plan for continued
growth in our global operations in the years ahead. Sandra's
accomplishments in the healthcare industry span over three decades,
including 13 years at HCA. We believe her extensive experience
working with hospitals, healthcare providers and payors will be
instrumental as we work to build many new relationships with
leading surgeons who can benefit from our technology."
Mr. Ryan has held senior positions in strategic planning and
business development at several leading global companies. He served
as senior vice president and CFO of Medtronic for more than 12
years, leading the company's finance functions, including treasury,
tax, controllership, internal audit, and investor relations during
a period of substantial global growth. He retired from Medtronic in
2005. From 1975 to 1982, he worked for Citibank, including five
years as head of the media lending department. He has served as
board member of several leading multinational companies including
Citi from 2007-2015 where he chaired the mortgage compliance
committee and served on the audit and risk management committees.
He has also served on the boards of Black & Decker (later
Stanley, Black & Decker), General Mills, Hewlett-Packard
Company, and UnitedHealth Group. Mr. Ryan is a Trustee Emeritus of
Cornell University and served for
several years on the Visiting Committee of Harvard Business School. He holds a BS degree in
electrical engineering from Wayne State
University, an MS degree in electrical engineering from
Cornell University, and an MBA from
Harvard Business School
"This is a transformational time for Memic, following the
recently announced business combination agreement with MedTech
Acquisition Corporation last month and the continuing growth in
commercial opportunities for the company," said Mr. Ryan. "I am
excited to join the board upon the closing of the business
combination with MedTech. We look forward to developing and
executing strategic plans that will optimize the commercial
opportunities for the Hominis system and bring this innovative
technology to leading hospitals and other medical facilities in
the United States and around the
world."
Ms. Morgan has 32 years of healthcare and executive leadership
experience working for Fortune 100 companies. Most recently, she
served as senior vice president, provider relations at HCA
Healthcare. During her 13-year tenure at HCA her responsibilities
included business growth for hospitals, ambulatory surgery centers,
urgent care clinics, transfer centers, and all service lines
including surgical and robotics, women's and children's, neurology,
oncology, emergency services, behavioral health, employer brokers,
and rural markets. She also led the HCA Enterprise Transfer
Center and founded the management development group that helped
advance the careers of many of HCA's vice presidents, hospital
CEOs, COOs, and service line leaders. Prior to HCA, Ms. Morgan
served as vice president for Pfizer's US managed care business,
where she played a major role in the launch and formulary adoption
of several products. She received her BS degree in business
administration from the University of
Illinois and an MBA from St.
Joseph's University.
"I am delighted to join the board of directors upon the closing
of the business combination with MedTech as Memic plans for
continued global commercial opportunities for the disruptive
Hominis platform," said Ms. Morgan. "I look forward to contributing
to Memic's future growth and success building on the company's
first FDA-authorized indication of Hominis in women's health
including benign hysterectomy via the transvaginal approach. This
technology has the potential to change patients' lives."
About Memic
Memic, founded in 2013 and based in
Tel Aviv, Israel with a wholly
owned subsidiary based in Fort
Lauderdale, Florida, is a medical device company dedicated
to transforming surgery with its proprietary surgical robotic
technology. For more information, visit: https://memicmed.com/.
About MedTech Acquisition Corporation
MedTech
Acquisition Corporation (Nasdaq: MTAC) is a blank check company
formed for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses or entities. MedTech has
stated a focus on the medical technology industry in the United States and other developed
countries.
Important Information about the Proposed Business Combination
and Where to Find It
In connection with the proposed merger (the "Business
Combination"), Memic intends to file with the SEC a registration
statement on Form F-4, which will include a preliminary proxy
statement/prospectus and a definitive proxy statement/prospectus,
and certain other related documents, which will be both the proxy
statement to be distributed to holders of MedTech's shares of
common stock in connection with the MedTech's solicitation of
proxies for the vote by MedTech's stockholders with respect to the
proposed business combination and other matters as may be described
in the registration statement, as well as the prospectus relating
to the securities to be issued in the proposed transaction.
MedTech's stockholders and other interested persons are advised
to read, when available, the preliminary proxy statement/prospectus
included in the registration statement and the amendments thereto
and the definitive proxy statement/prospectus, as well as other
documents filed with the SEC in connection with the proposed
business combination, as these materials will contain important
information about the parties to the proposed business combination
agreement, Memic, MedTech and the proposed combined company.
After the registration statement is declared effective, the
definitive proxy statement/prospectus and other relevant materials
for the proposed business combination will be mailed to
stockholders of MedTech as of a record date to be established for
voting on the proposed business combination and other matters as
may be described in the registration statement. Stockholders will
also be able to obtain copies of the preliminary proxy
statement/prospectus, the definitive proxy statement/prospectus,
and other documents filed with the SEC that will be incorporated by
reference therein, without charge, once available, at the SEC's
website at www.sec.gov. In addition, the documents filed by MedTech
may be obtained by written request to:
MedTech Acquisition Corporation
600 Fifth Avenue, 22nd Floor
New York, NY 10022
Participants in the Solicitation
Memic and MedTech and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from MedTech's stockholders in connection with the Business
Combination under the rules of the SEC. MedTech's stockholders,
Memic's shareholders and other interested persons may obtain,
without charge, more detailed information regarding the names,
affiliations and interests of directors and executive officers of
Memic and MedTech in MedTech's Annual Report on Form 10-K for the
fiscal year ended December 31, 2020,
as amended by Amendment No. 1 to MedTech's Annual Report on Form
10-K for the fiscal year ended December 31,
2020 (File No.001-39813), or Memic's Form F-4 (when
available), as applicable, as well as their other filings with the
SEC. Other information regarding persons who may, under the rules
of the SEC, be deemed the participants in the proxy solicitation of
MedTech's stockholders in connection with the Business Combination
and a description of their direct and indirect interests, by
security holdings or otherwise, will be included in the preliminary
proxy statement/prospectus and will be contained in other relevant
materials to be filed with the SEC regarding the Business
Combination (if and when they become available). Free copies of
these documents can be obtained at the SEC's website at
www.sec.gov.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed Business Combination between MedTech and Memic.
Forward-looking statements may be identified by the use of the
words such as "estimate," "plan," "project," "forecast," "intend,"
"expect," "anticipate," "believe," "seek," "strategy," "future,"
"opportunity," "may," "target," "should," "will," "would," "will
be," "will continue," "will likely result," or similar expressions
that predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements as to the expected
timing, completion and effects of the Business Combination, are
based on various assumptions, whether or not identified in this
press release, and on the current expectations of Memic's and
MedTech's management, are not predictions of actual performance,
and are subject to risks and uncertainties. These forward-looking
statements are subject to a number of risks and uncertainties,
including but not limited to: the risk that the Business
Combination may not be completed in a timely manner or at all; the
failure to satisfy the conditions to the consummation of the
Business Combination, including the failure to obtain approval of
the stockholders of MedTech; the inability to complete the
foregoing PIPE investment; the occurrence of any event, change or
other circumstance that could give rise to the termination of the
business combination agreement; the amount of redemption requests
made by MedTech's public stockholders; the effect of the
announcement or pendency of the Business Combination on Memic's
business; risks that the Business Combination disrupts current
plans and operations of Memic; challenges to Memic in the
manufacture, commercialization and marketing of its medical device
products; the ability to recognize the anticipated benefits of the
proposed transaction, which may be affected by, among other things,
the ability of Memic to grow, manage growth profitably and retain
its key employees; Memic's estimates of its financial performance;
changes in general economic or political conditions; changes in the
markets in which the Memic competes; the impact of natural
disasters or health epidemics, including the ongoing COVID-19
pandemic; legislative or regulatory changes; industry risks related
to the medical device and medical technology industries;
competition; conditions related to Memic's operations in
Israel; risks related to data
security and privacy; changes to accounting principles and
guidelines; potential litigation relating to the proposed business
combination; the ability to obtain and maintain the listing of
Memic's securities on the Nasdaq Capital Market; the price of
Memic's securities may be volatile; the ability to implement
business plans, and other expectations after the completion of the
Business Combination; and unexpected costs or expenses. The
foregoing list of factors is not exhaustive. Foregoing factors and
the other risks and uncertainties described in the "Risk Factors"
section of MedTech's Annual Report on Form 10-K for the fiscal year
ended December 31, 2020 (File No.
001-39813), and MedTech's registration statement on Form S-1 (File
No. 333-251037), and Memic's registration statement on Form F-4
(when available) and other documents should be carefully
considered, if and when filed by Memic or MedTech from time to time
with SEC. If any of these risks materialize or these assumptions
prove incorrect, actual events and results could differ materially
from those contained in the forward-looking statements. There may
be additional risks that neither Memic nor MedTech presently know
or that Memic and MedTech currently believe are immaterial that
could also cause actual events and results to differ. In addition,
forward-looking statements reflect Memic's and MedTech's
expectations, plans or forecasts of future events and views as of
the date they are made. Memic and MedTech anticipate that
subsequent events and developments will cause Memic's and MedTech's
assessments to change. While Memic and MedTech may elect to update
these forward-looking statements at some point in the future, Memic
and MedTech specifically disclaim any obligation to do so, unless
required by applicable law.
Any financial information or projections in this communication
are forward-looking statements that are based on assumptions that
are inherently subject to significant uncertainties and
contingencies, many of which are beyond Memic's and MedTech's
control. The inclusion of financial information or projections in
this communication should not be regarded as an indication that
Memic or MedTech, or their respective representatives and advisors,
considered or consider the information or projections to be a
reliable prediction of future events.
This communication is not intended to be all-inclusive or to
contain all the information that a person may desire in considering
an investment in MedTech and is not intended to form the basis of
an investment decision in MedTech. All subsequent written and oral
forward-looking statements concerning MedTech and Memic, the
Business Combination or other matters and attributable to MedTech
and Memic or any person acting on their behalf are expressly
qualified in their entirety by the cautionary statements above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the business combination. This press release shall
also not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of
securities in any states or jurisdictions in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of the Securities Act of 1933,
as amended.
Media Contact:
Lynn
Granito
Berry & Company Public Relations
lgranito@berrypr.com
973-818-3732
Investor Contact:
Greg
Chodaczek
Gilmartin Group
greg@gilmartinir.com
347-620-7010
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SOURCE Memic Innovative Surgery Ltd.