XCath Chief Executive Officer Eduardo Fonseca was formerly an Investment Director in the Crescent Group Investments Team and the Chief Corporate Development Officer of Gulftainer USA. In addition to leading the strategic direction of XCath, he is a member of the Board of Directors for Endoquest Robotics Inc., and HomeWork Mx. Prior to joining Crescent Group, Fonseca was the first Panamanian Ambassador to the United Arab Emirates and the first Ambassador to Saudi Arabia. He holds an MBA from INSEAD, a BS in Commerce from Santa Clara University, and is a member of the National Association of Corporate Directors (NACD.)
Company: XCath
We are thrilled to have you join us today, welcome to ValiantCEO Magazine’s exclusive interview! Let’s start off with a little introduction. Tell our readers a bit about yourself and your company.
Eduardo Fonseca: Before XCath, I was an Investment Director for Crescent Enterprises based out of the UAE. I was on the Board of XCath from 2019 to 2023 prior to becoming its CEO, where I now lead the company’s strategic direction.
XCath is an early-stage medical device startup at the cutting-edge of revolutionary medical robotics, nanorobotics, and materials science. We are dedicated to expanding endovascular treatment modalities through developing next-generation smart steerable guidewires and robotic systems to treat cerebrovascular disorders and other life-threatening conditions.
How many new clients do you get per month (on average)?
Eduardo Fonseca: XCath’s steerable guidewires and endovascular robotic systems are currently under development. They are not yet cleared for commercial distribution in any country.
What does success mean to you beyond financial growth, and how has your definition evolved over time?
Eduardo Fonseca: Stroke presents an immense burden on global health, affecting 15 million people worldwide every year, resulting in five million deaths and another five million permanently disabled, with life-changing impacts including mobility and cognitive processes. Financially, the condition generates a similarly colossal impact, with the global cost of stroke and stroke-related disabilities currently representing 0.66% of Global GDP. Furthermore, this number is projected to increase to $1 trillion by 2030.
As a medical device developer, XCath has the unique ability to democratize access to stroke care through its next-generation endovascular robotics system and steerable guidewires. We define success by increasing patient access to gold-standard stroke treatment through endovascular robotics.
Can you share a specific failure or major setback that unexpectedly led to a significant breakthrough in your career?
Eduardo Fonseca: Management changes in any portfolio company are always difficult and disruptive, but they also provide an opportunity to reflect on changes that would align an organization on an ideal route to value creation. Listening to all key stakeholders during transitional periods often uncovers optimized strategic directions. The difficulty of getting up to speed with the operational details of XCath was offset by the opportunity to develop a flat organization where all team members felt genuinely empowered to drive meaningful change.
How do you measure personal fulfillment and impact in your role as an entrepreneur or CEO?
Eduardo Fonseca: Our personal fulfillment comes from working together to solve a major population health issue that can impact millions of lives every year. XCath has 40 employees with campuses in Houston, Texas – home to the world’s largest medical center – and Pangyo, South Korea, often referred to as the Silicon Valley of Korea.
Just recently, our team completed the world’s first public remote mechanical thrombectomy on a model. The first-of-its-kind procedure showed the ability to conduct mechanical thrombectomies remotely and will be critical to democratizing access to this life-saving treatment.
What unconventional advice or practice has helped you overcome challenges and redefine your approach to business?
Eduardo Fonseca: I often ask my team what might be wrong in our approach. Creating an environment where all team members are encouraged to challenge themselves is vital to ensuring that the business optimizes value creation and balances the development risk associated with novel devices that take years and significant capital to develop. Actively and respectfully challenging the views other members of the team is highly encouraged and normalized at every level of the organization.
How have your setbacks shaped the culture and values of your organization? Can you give an example of how these values are reflected in daily operations?
Eduardo Fonseca: One of XCath’s core values is that our mission is more important than any specific individual. Close to 10 people die every minute from strokes – our technology could significantly lower that number, and therefore we are increasingly driven to ensure that the technology reaches patients.
As an organization, many of our team members have moved to Houston and spend significant amount of time in our South Korea robotics R&D campus. This significant personal sacrifice has led to a firm commitment to our mission. The critical nature of our mission allows us to push ourselves and ensure that we are able to develop a highly effective and safe device that changes human longevity by preventing the death and disability that impacts so many families worldwide.
