SALT LAKE CITY and SEATTLE, May 21, 2015 /PRNewswire/ -- Sarcos Corp., a global leader in the development of robotics, sensors and medical devices, announced today the appointment of Preston Woo as the company's Chief Financial Officer and head of Corporate Development effective immediately. Woo has a depth of experience in corporate development, business development and finance roles, including positions at UBS Investment Bank, Vulcan Capital, Intellectual Ventures and Pendrell Corporation. Mr. Woo will be located in Sarcos' Seattle area office.
"Preston's experience in financial and transactional matters resulting from years of working with some of the leading tech entrepreneurs in the Pacific Northwest makes him a perfect fit for Sarcos as we re-launch the company following our acquisition of the business earlier this year," commented Dr. Fraser Smith, President and CEO of Sarcos.
"I am excited to join a company that has such a rich legacy of innovation and successful commercialization of products that improve and save lives," said Woo. "After a relatively quiet period for the past seven years under its prior ownership, Sarcos today represents a rare opportunity to combine one of the world's most proven teams of robotics engineers with a new entrepreneurial focus and relentless pursuit of innovative solutions."
Mr. Woo was previously head of corporate development at Pendrell Corporation, a publicly traded firm focused on acquiring and developing businesses with unique, proprietary technologies. Prior to his role at Pendrell, Mr. Woo led business development at Intellectual Ventures, a technology development and intellectual property firm. He has also served as a key member of the private equity group at Vulcan Capital, the investment firm owned by Microsoft co-founder Paul G. Allen. Mr. Woo started his career in the Mergers & Acquisitions Group at UBS Investment Bank. He holds both a BS, cum laude, and an MBA, with honors, from the Wharton School at the University of Pennsylvania.
Sarcos Corp. is a global leader in the commercialization of robotics, micro-systems, and sensor technologies for use in the healthcare, life sciences, telecommunications, robotics, defense, and entertainment industries. Leveraging more than 25 years of research and development, Sarcos is developing revolutionary products to improve health, safety, and quality of life. The Sarcos team has developed products that can be found in a wide variety of applications, ranging from the robotic pirates and dinosaurs at theme parks worldwide to drug delivery and interventional medical systems in use in global health care settings. Time Magazine named Sarcos' Iron Man-like exoskeleton robotic suit one of The 50 Best Inventions of 2010. Sarcos is headquartered in Salt Lake City, Utah with additional offices in the greater Seattle area.
SOURCE Sarcos Corp.