Microbot Medical Inc. (NASDAQ:MBOT) has appointed P. (Laxmin) Laxminarain to its Board of Directors. Microbot Medical is a medical device company mainly dealing in design, development and supply of transformational micro-robotic medical equipment.
Mr. Laxminarain has a lot of experience as a medical device executive. He has more than 30 years of experience plus a proven track record. He recently served as a global president of Codman Neurosurgery which was later acquired by Integra LifeSciences Holdings Corporation in October 2017 in a deal valued at around $1.045 billion.
Mr. Laxminarain joined Johnson & Johnson in 1986 and served in several capacities in increasing capacities. These included serving as President of Codman Neurosurgery between 2016 and 2017. Additionally, he has held a number of senior positions in the field of medical devices in South Korea, Singapore and India. Before joining Johnson & Johnson, he worked as a management consultant with AF Ferguson & Co. AF Ferguson & Co is a management and audit company in India where he served on strategy and execution of several related projects. Mr. Laxminarain has an MBA from the Indian Institute of Management.
In a statement, Chief Executive Officer, President and Chairman of Microbot Harel Gadot said Laxmin will be very important in creating value for the company after showing exemplary performance Codman. He added that Laxmin will be very resourceful to the company’s board as well as the entire management as the company tries to scale up its capabilities to reach its milestone and create value for shareholders.
Gadot added that apart from his wide experience in the field of neurosurgery Laxmin will immensely contribute to the company’s revolutionary self-cleaning shunt plus other applications that may be developed from the company’s technologies.
Mr. Laxminarain on his part said the emergency and growth of medical robots is one of the highly profitable and promising fields in healthcare with several untapped opportunities for growth. He added that Microbot Medical is known for its unique technologies. Mr. Laxminarain is coming on board to fill the position left Prof. Moshe Shoham who recently left the company to focus more on the company’s scientific side.