TransEnterix Board of Directors Appoints Anthony Fernando as President and Chief Executive Officer

TransEnterix, Inc. (NYSE American: TRXC), a medical device company that is digitizing the interface between surgeons and patients to improve minimally invasive surgery, today announced that the Company’s Board of Directors has appointed Anthony Fernando, the Company’s current Chief Operating Officer and Chief Technology Officer, as President and Chief Executive Officer and a member of the Board of Directors, effective November 8, 2019. Mr. Fernando succeeds Todd Pope who is stepping down from his positions as President and Chief Executive Officer. Mr. Pope is committed to assisting with the transition and will serve as a senior advisor to the Company.

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Anthony Fernando, TransEnterix, Inc. President and CEO (Photo: Business Wire)

“We would like to thank Todd for his leadership and contributions to TransEnterix since joining the Company as its CEO in 2008. Under his vision and guidance, the Company acquired and advanced the Senhance System, received multiple regulatory approvals and clearances, including FDA clearance of the Senhance System, launched in key markets around the world and is well positioned for future success,” said Paul LaViolette, Chairman of TransEnterix’s Board of Directors. “We have confidence in Anthony and his ability to lead the Company going forward. His leadership has been instrumental in the evolution of the Senhance System, the development of the digital surgical platform architecture, the acquisition of the MST technology and our plans to incorporate these valuable technology assets into the Company’s products. He has also played a key role in spearheading the development of the organization’s strategic priorities, and we believe his broad medical device and global leadership experience will be highly valuable during the next phase in the Company’s journey.”

“I have a strong belief in the technology and the team we have assembled at TransEnterix. The Senhance System has a unique role to play as we bring digital laparoscopy to the fast-growing surgical robotics market,” said Anthony Fernando, President and CEO of TransEnterix. “I will work diligently to realize the promise of this technology and grow our value in the future. I look forward to working closely with our team and the Board of Directors executing on our refocused strategy as we digitize the interface between surgeons and patients.”

”It has been a privilege to serve as CEO of TransEnterix over the past 10 years and I am proud of the significant progress we have made,” said Todd M. Pope. “I, along with the Board, believe Anthony is the right person to lead TransEnterix going forward as the Company continues to bring digital laparoscopy to the market.”

About Anthony Fernando

Mr. Fernando joined TransEnterix in 2015 as the Vice President of International Development, was promoted to Chief Technology Officer in 2016 and expanded his role to include Chief Operating Officer in 2017. In his current role, Mr. Fernando has been responsible for the Company’s technology strategy and global business operations. Mr. Fernando has more than 15 years of experience driving global business growth through innovation for healthcare companies. Prior to TransEnterix, Mr. Fernando served as Vice President of Innovation and Technology within the International Group at Stryker Corporation. Before joining Stryker, Mr. Fernando held positions at Becton Dickinson & Company as Director, R&D Devices & Global Health, Greater Asia; PerkinElmer Inc. as Director, R&D and CoE Leader in Asia; and Varian, Inc. as Director of Operations/General Manager of the Pharmaceutical Products business unit. Mr. Fernando earned an MBA from the Kenan-Flagler Business School at the University of North Carolina, Chapel Hill, and MSc and BSc in Mechanical Engineering with concentrations in Robotics and Automation from the University of Nevada Las Vegas.

Third Quarter Financial and Operating Results Conference Call

As previously announced, the Company will host a conference call on Tuesday, November 12, 2019 at 4:30 p.m. Eastern Time to discuss its third quarter 2019 financial and operating results as well as provide a business update. The call will be hosted by Paul LaViolette, Chairman of the Board of Directors, Anthony Fernando, President and Chief Executive Officer, and Joe Slattery, Chief Financial Officer.

To listen to the conference call on your telephone, please dial 844-804-5261 for domestic callers and 612-979-9885 for international callers, and reference conference ID 5398297 approximately ten minutes prior to the start time. To access the live audio webcast or archived recording, use the following link http://ir.transenterix.com/events.cfm. The replay will be available on the Company’s website.

About TransEnterix

TransEnterix is a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery by addressing the clinical and economic challenges associated with current laparoscopic and robotic options in today's value-based healthcare environment. The Company is focused on the commercialization of the Senhance Surgical System, which digitizes laparoscopic minimally invasive surgery. The system allows for robotic precision, haptic feedback, surgeon camera control via eye sensing and improved ergonomics while offering responsible economics. The Senhance Surgical System is available for sale in the US, the EU, Japan and select other countries. For more information, visit www.transenterix.com.

Forward-Looking Statements

This press release includes statements regarding changes in the Company’s leadership team. These statements and other statements regarding our future plans and goals constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations and include whether Mr. Fernando’s broad medical and global leadership experience will be highly valuable during the next phase of the Company’s journey; and whether the Company can take advantage of the significant opportunity that exists for Senhance as we look to deliver on the promise of digitizing the interface between surgeons and patients. For a discussion of the risks and uncertainties associated with TransEnterix and its business, please review our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on February 27, 2019 and our other filings we make with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the origination date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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