Cambridge Medical Robotics Ltd, the private company developing a next-generation robotic system for universal minimal access surgery, today announces the appointment of Erik Langaker as Director and Chairman of the Board. Reynir Indahl, formerly Chairman of CMR, will remain on the Board as a Director.
With the recently announced Series A financing, CMR is appointing an independent Chairman. With Mr. Langaker’s background in developing and commercialising technology businesses, he is well suited to lead the Board of CMR as the Company advances into clinical testing ahead of commercialisation.
Mr. Langaker is currently an industrial advisor to EQT, the Swedish private equity group, as well as Owner and Chairman of Vestland Invest, a financial advisor and holding company for technology investments.
Erik has 30 years’ international experience in venture capital and as an entrepreneur. He has founded and remains an active investor and Chairman in several technology companies including in StormGeo, Payex Group, Viken Fibernett, and GeoKnowledge. Erik was formerly Chairman of SimSurgery, a leading company in laparoscopic surgical simulation and training, servicing leading global medical device companies, including Johnson & Johnson and Covidien, and hospitals in the USA and Europe. Simulation and training play critical roles in the successful introduction of surgical robotics into hospitals and clinics.
Martin Frost, CEO of CMR, commented: “I am very pleased to welcome Erik Langaker as Chairman of the Board. Erik joins us as a pivotal time as we advance into clinical testing ahead of commercialisation and expansion, where his insight and expertise in building global businesses will be invaluable to the team.
“I am also pleased that Reynir Indahl continues to serve on the Board. On behalf of the Board I would like to thank Reynir in helping to shape the Company over the last year and for the instrumental role he played in the recently announced Series A financing.”
Erik Langaker, Chairman of CMR, added: “I am delighted to join CMR at such an exciting time following the Series A financing. I believe that the Company is well placed to become a next-generation leader in robot-assisted minimal access surgery, a market which is already worth $3 billion annually and is forecast to grow to excess of $20 billion over the next decade.”
Cambridge Medical Robotics
Chief Executive Officer
Tel: +44 (0) 1223 755 300
Consilium Strategic Communications
Mary-Jane Elliott, Ivar Milligan
Tel: +44 20 3709 5700
About the CMR surgical robotic system
CMR’s modular system uses state-of-the-art 3D high-definition imagery, significantly enhanced flexibility, and force feedback to provide surgeons with life-like sensitivity.
The system overcomes obstacles to widespread adoption of robotic minimal access surgery, namely robot size, instrument size, versatility, port placement, cost and ease of use, allowing the system to be highly utilised and cost-comparable to manual laparoscopic surgery.
About Cambridge Medical Robotics Limited
Cambridge Medical Robotics is a private company developing the next-generation universal robotic system for minimal access (or “keyhole”) surgery.
Our vision is to make minimal access surgery universally accessible and affordable by significantly expanding the range of procedures that can be performed robotically. This will transform the existing market for surgical robotics.
Global annual revenues for robot-assisted minimal access surgery are presently approximately $4 billion and are anticipated to reach $20 billion by 2025.
Cambridge Medical Robotics was formed in 2014 and has its headquarters in Cambridge, United Kingdom. The company achieved the registration of its Quality Management System to ISO 13485:2003 by Underwriters Laboratories LLC® (‘UL’), and the status as a UL Registered Firm, in September 2015.
Investors in Cambridge Medical Robotics include ABB Technology Ventures, LGT Global, Cambridge Innovation Capital and Escala Capital.
For further information, please visit: www.cmedrobotics.com
Industry Forecast, Accuray Research