Vicarious Surgical hires former Olympus leader as president

Name: Randy Clark New title: President, Vicarious Surgical Previous title: Global president of health solutions, […]

Name: Randy Clark

New title: President, Vicarious Surgical

Previous title: Global president of health solutions, Flex

Robot developer Vicarious Surgical has named Randy Clark to the new role of president, less than three months after it cut staff and spending to preserve cash.

He joins Vicarious from Flex, a supply chain and manufacturing services provider, where he was global president of the health solutions business. Before that, he spent 15 years at Olympus Corporation of the Americas, where he held various roles, ultimately serving as president and a member of the board.

At Vicarious, Clark will have day-to-day oversight of functions including product development, operations, commercial strategy, human resources, and clinical, regulatory and quality affairs. He also will be tasked with focusing on the company’s long-term needs and objectives as Vicarious prepares for its next phase of growth, Adam Sachs, Vicarious co-founder and CEO, said in a Monday statement.

Clark’s appointment is effective immediately.

The Waltham, Massachusetts-based company is developing a surgical robot that is designed to provide abdominal access and visualization through a single port. Vicarious expects to finalize its V1.0 robotic surgery system this fall, according to Sachs.

“Randy brings a wealth of expertise, particularly within manufacturing and supply chain,” Sachs said. “His well-established track record of successfully guiding organizations from development stage to commercial launch is a testament to his capabilities, and we anticipate his expertise and leadership will play a crucial role in shaping our future success.”

The company, whose backers include Bill Gates, in November downsized its R&D team and cut spending on contractors as it sought to reduce its cash burn by up to $20 million. The actions follow a job reduction in February that affected sales, marketing and administrative roles.

Due to the latest job reductions, the company pushed back the timeline for developing its surgical robot, with plans to submit a regulatory filing in early to mid-2026.

Vicarious lost $15.7 million in the third quarter. It had about $110 million in cash and equivalents plus short-term investments as of Sept. 30, 2023.

Original Article: (https://www.medtechdive.com/news/vicarious-surgical-olympus-president/705946/)