Titan Medical Shares Latest Technology Innovation and Announces Meeting Participation During J.P. Morgan Healthcare Conference Week
Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD) announced its next-generation surgical technology at the 41st Annual J.P. Morgan Healthcare Conference in San Francisco. The company is focused on single-access robotic-assisted surgery (RAS) and is engaging with strategic buyers and investors regarding its three-arm Enos™ system. This innovative robotic system is aimed at enhancing surgical procedures, particularly in gynecology. The strategic review process initiated in November 2022 will explore alternatives including mergers and asset sales.
- Unveiling of next-generation three-arm single-access robotic-assisted surgery technology.
- Participation in strategic review process to explore business alternatives.
- Ongoing strategic review may indicate challenges in current business operations.
- Dependence on future funding is uncertain during the strategic review process.
TORONTO, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device company focused on the development and commercialization of innovative surgical technologies for single access robotic-assisted surgery (RAS), today announced the unveiling of its next generation technology and participation in meetings to support the strategic review process announced on November 30, 2022 alongside the 41st Annual J.P. Morgan Healthcare Conference being held January 9-12 in San Francisco, CA. A video highlighting the company’s latest innovation in robotic-assisted surgery is available on the company’s website www.titanmedicalinc.com.
Cary G. Vance, Titan’s President and CEO, commented, “We are looking forward to meeting with strategic buyers and investors during the conference week and providing a future view into what a three-arm single access robotic-assisted surgery technology could look like. With the time it takes to bring complex products to market in the regulated medical device industry, you must continuously envision the next generation. Our focus on purpose-driven innovation has always been at the forefront of our work. We are excited to share our three-arm design that was independently created by Titan and builds upon technologies developed for our two-arm system and those generated under a previously executed and completed development and license agreement, and addresses evolving customer needs in single-access robotic surgery."
If you would like to schedule a meeting during the conference, please email Kristen Galfetti at investors@titanmedicalinc.com.
About Titan Medical
Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device company headquartered in Toronto, Ontario with operations in Chapel Hill, North Carolina, is focused on enhancing robotic assisted surgery (RAS) using innovative technology through a single access point. The Enos™ robotic single access surgical system is being developed with an ergonomic focus to provide a surgical experience that imitates real-life movements that surgeons demand and includes multi-articulating instruments designed to allow surgeons an increased range of motion in a confined space, with dexterity and the ability to exert the forces necessary to complete common surgical tasks. With the Enos system, Titan intends to initially pursue gynecologic surgical indications. On November 30, 2022, the company announced the commencement of a strategic review process that will consider a full range of strategic alternatives including corporate sale, merger or other business combination, a sale of all or a portion of the company’s assets, strategic investment or other significant transaction.
Enos™ is a trademark of Titan Medical Inc.
For more information, visit www.titanmedicalinc.com and follow @TitanMedical on Twitter and LinkedIn.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws, which reflect the current expectations of management of the company’s future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are frequently, but not always, identified by words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “potential for” and similar expressions, although these words may not be present in all forward-looking statements. Forward-looking statements that appear in this release may include, without limitation, references to: the company’s strategic review process and the potential outcome thereof; the company’s participation in meetings to support the strategic review process; the company’s three-arm single access RAS technology; the company’s focus on single access robotic assisted surgery; the Enos system providing a surgical experience that imitates real-life movements; the Enos platform being designed to promote faster recovery, shorter hospital stays, lower risk of infection, fewer scars and less post-operative pain; Titan’s mission of improving outcomes for patients, hospitals and surgeons; and the company’s intention to initially pursue gynecologic surgical indications with the Enos system.
These forward-looking statements reflect management’s current beliefs with respect to future events and are based on information currently available to management that, while considered reasonable by management as of the date on which the statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. Forward-looking statements involve significant risks, uncertainties and assumptions and many factors could cause the company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Such factors and assumptions include, but are not limited to, the Company’s ability to retain key personnel; its ability to execute on its business plans and strategies; the sufficiency of its working capital to continue to fund its operations during its strategic review process and other factors listed in the “Risk Factors” section of the company’s Annual Report for the fiscal year ended December 31, 2021 (which may be viewed at www.sedar.com and at www.sec.gov). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions and the company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, the company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, investors should not place undue reliance on forward-looking statements. All the forward-looking statements are expressly qualified by the foregoing cautionary statements.
Contact
Kristen Galfetti
Vice President, Investor Relations
& Corporate Communications
+1-781-869-2553
investors@titanmedicalinc.com
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