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Titan Medical Inc. (TITXF)

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Titan Medical Inc. is a Canadian public company, headquartered in Toronto, Ontario, that trades on the Toronto Stock Exchange (TMD) and the OTCQX in the United States (TITXF). Titan is developing the SPORT™ (Single Port Orifice Robotic Technology) Surgical System for use in minimally invasive surgery (“MIS”) that is expected to be commercially available in 2016. Titan’s robotic surgical system is being designed to expand robotic surgery into areas that are currently underserviced. This will allow surgeons to perform procedures within small to medium size surgical spaces such as general surgery and cholecystectomy. Currently, the most common medical procedures for which robotic systems are used are hysterectomies and prostatectomies. Titan plans to expand the scope and obtain approval for various surgical procedures as outlined in their Corporate Presentation.

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Management Team
Surgeon Advisory Board
Secured Patents
Pending Patents
24-month Stock Performance

The SPORT™ Surgical System includes the following:

* a single-port surgeon controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and
* a surgeon workstation that provides the surgeon with an interface to the robotic platform   for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient’s body during MIS procedures.

Titan has completed the first phase in the development of the SPORT™ Surgical System and is in the latter part of the second phase which consists of tissue and cadaver testing. Following this phase, there are two further phases of testing – the third phase which requires the building of a pre-production prototype(s) and the fourth phase which consists of preparing the surgical system for commercialization. Commercialization (overseas) is currently scheduled for the second half of 2016 at a cost of approximately $850k/unit.

Global annual medical robotic revenues are currently approximately $4 billion and are expected to grow to $18 BILLION in 2018. Titan is planning to first commercialize the SPORT™ Surgical System in Europe followed by the United States, the world’s two largest markets for robotic surgery.  Currently, the robotic surgery marketplace is dominated by Intuitive Surgical.  This will likely change soon as their patents begin to expire and more competition is welcomed in an effort to lower costs and improve patient satisfaction.  Enter Titan Medical Inc. and their world-class team.


TITAN MEDICAL 2015 AGM PRESENTATION (Featuring Fowler, Randall, Rayman, and Hargrove)


November 13, 2015         Financials + MD&A Released (source: Titan Medical)  


    Titan Medical (TMD) Management rings opening bell at the TSX Stock Exchange

November 2014


John T. Hargrove
Chief Executive Officer and Chairman

John Hargrove is currently the Chief Executive Officer and Chairman of the Board of Directors of Titan Medical Inc. Mr. Hargrove has over 30 years of executive-level health care experience. The majority of his distinguished health care career was spent with the Johnson & Johnson Family of Companies where he held positions of increasing responsibility in sales, marketing and corporate account management at Ethicon, Ethicon Endo-Surgery and Johnson & Johnson Health Care Systems. During his final position with Johnson & Johnson as Vice President of Corporate Accounts, Mr. Hargrove developed and led one of the first and most effective corporate sales programs in the health care industry. Following Johnson & Johnson, Mr. Hargrove joined Ohmeda Inc. as President, Corporate Account Management. While at Ohmeda, he successfully developed and implemented a multi-divisional corporate sales program, resulting in multi-year contracts with the majority of the largest Group Purchasing Organizations in the United States. Under Mr. Hargrove’s supervision, Ohmeda’s Corporate Account Division assisted buying groups, hospitals and integrated delivery networks in overall business and strategic planning and helped numerous customers who were under pressure to measure quality healthcare according to business as well as clinical and safety outcomes. Mr. Hargrove holds a Bachelor of Arts degree in Marketing from the University of Georgia and has completed executive management programs at Duke, Harvard and the University of Michigan.

Dr. Reiza Rayman MD, PhD
President, Director

Dr. Rayman’s training in both biophysics and medicine has allowed a broad perspective on new technology and devices as they relate to surgery. As a researcher in fluid dynamics, he concentrated on the role of the fluid dynamics of blood flow as it relates to arteriosclerosis. During subsequent medical training, Dr. Rayman became interested in MIS techniques and devices, and researched the physiologic effects of MIS on infants during prolonged procedures. Additionally, his interest in the device area led to concepts and experimentation using magnetism for bowel retraction during MIS. Dr. Rayman collaborated with Dr. Doug Boyd to implement and develop new techniques related to robotic cardiac surgery. The two performed the world’s first robotic beating heart cardiac bypass surgery in September 1999. Subsequently, Dr. Rayman authored grants to the federal and provincial governments to research several areas of robotic surgery. These grants were successful, and totalled to a program of $30 million, the largest research program in the history of the London Health Sciences Centre. Dr. Rayman has conducted extensive research on substantially all available robotic platforms and is currently an active practitioner who has performed over 400 robotic surgeries. Dr. Rayman held roles including Assistant Professor, Department of Surgery, at the University of Western Ontario. Dr. Rayman holds an M.Sc. (Medical Biophysics) in Fluid Dynamics from The University of Western Ontario, an M.D. from The University of Toronto, and a Ph.D. in Telesurgery from The University of Western Ontario.

Stephen D. Randall, CGA
Chief Financial Officer

Mr. Randall is a Certified General Accountant and has served as an auditor, chief financial officer, corporate controller and accountant for several public and private companies and government organizations. Mr. Randall brings substantial experience in areas such as accounting and finance, tax planning and compliance, information technology management, mergers and acquisitions and operations management.

Dr. Dennis Fowler, MD, MPH
Executive VP, Clinical & Regulatory Affairs

Dr. Fowler is the co-inventor of the single-incision Insertable Robotic Effector Platform (IREP) technology licensed from Columbia University for use in Titan Medical’s SPORT™ Surgical System. Dr. Fowler received his M.D. in 1973 from the University of Kansas School of Medicine, Kansas City.  In 2008 he received his Master of Public Health from Columbia University, Mailman School of Public Health.  Dr. Fowler is certified by the American Board of Surgery and is a member of numerous surgical societies.  Formerly, he was the Gerald and Janet Carrus Professor of Surgical Science, Director of the Center for Innovation and Outcomes Research in the Department of Surgery, Columbia University College of Physicians and Surgeons, and V.P.-Medical Director of Perioperative Services at New York Presbyterian Hospital. As well he has a vast list of honours, committee positions, teaching responsibilities and publication credits.


"You steadily grow into becoming your best as you choose to be accountable and accept responsibility for improvement.”  

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Arnold Advincula, M.D.

Dr. Advincula is Vice-Chair of Women’s Health & Chief of Gynecology at the Sloane Hospital for Women, Columbia University Medical Center/New York Presbyterian Hospital. Formerly, he was Professor of Obstetrics and Gynecology, Director of the Minimally Invasive Surgery Division and Fellowship, and Director of the Endometriosis Center at the University of Michigan. More recently, he was Director of the Center for Specialized Gynecology and Director of the Education Institute at the Nicholson Center, an advanced medical and surgical simulation training facility at Florida Health. He is currently Vice President of the American Association of Gynecologic Laparoscopy and a Member-at-Large for the Society of Gynecologic Surgeons. He is a leader in minimally invasive surgical techniques and one of the world’s most experienced gynecologic robotic surgeons, who has published and taught extensively in the area of minimally invasive surgery, as well as developed surgical instruments that are in use worldwide.

Juliane Bingener, M.D. 

Dr. Juliane Bingener is Professor of Surgery, Mayo Clinic College of Medicine, and Vice Chair for Quality, Safety and Service in the Mayo Clinic Department of Surgery. She has a joint appointment in the Division of Gastroenterology and Hepatology, which supports her clinical interests in minimally invasive surgery, endoscopy, and gastrointestinal disease. Her research focuses on patient reported outcomes and novel technology in the diagnosis and treatment of these diseases. Dr. Bingener’s previous work included the development of a Natural Orifice Translumenal Endoscopic Surgery (NOTES) technique for using an omental patch to close perforated ulcers. Her ongoing interests focus on the development, study, and implementation of innovative endoscopic and laparoscopic approaches for gastrointestinal diseases.

Erik Dutson, M.D.

Dr. Dutson is Associate Professor of Surgery and Chief of the Section of Minimally Invasive and Bariatric Surgery at UCLA, and Executive Medical Director of UCLA’s Center for Advanced Surgical and Interventional Technology (CASIT), which is a multi-disciplinary laboratory with participation by the UCLA Schools of Medicine, Engineering, Computer Science and Applied Mathematics. He is a regular panel reviewer for NASA’s National Space Biomedical Research Institute/Human Research Program, as well as NIH’s section on Computer Modeling in Medicine. Formerly, he was a clinical and research fellow at the European Institute for Telesurgery at the University of Louis Pasteur in Strasbourg, France. While there, he helped develop and validate virtual and augmented-reality applications for surgery and participated in the training of approximately 8,000 surgeons from all over the world. He is a member of the SAGES, the SRS, the ASMBS, and a Fellow of the American College of Surgeons. He has authored multiple peer-reviewed scientific publications in surgical and engineering journals, and he helped develop CME accreditation for web-based surgical education tools. His clinical interests include laparoscopic and robotic bariatric surgery, and his research interests include the development of computer-assisted technology for surgical application.

Dennis Fowler, M.D., MPH

Dr. Fowler is the co-inventor of the single-incision Insertable Robotic Effector Platform (IREP) technology licensed from Columbia University for use in Titan Medical’s SPORT™ Surgical System. Dr. Fowler received his M.D. in 1973 from the University of Kansas School of Medicine, Kansas City. In 2008 he received his Master of Public Health from Columbia University, Mailman School of Public Health. Dr. Fowler is certified by the American Board of Surgery and is a member of numerous surgical societies. Formerly, he was the Gerald and Janet Carrus Professor of Surgical Science, Director of the Center for Innovation and Outcomes Research in the Department of Surgery, Columbia University College of Physicians and Surgeons, and V.P.-Medical Director of Perioperative Services at New York Presbyterian Hospital. As well he has a vast list of honours, committee positions, teaching responsibilities and publication credits.

Adrian Park, M.D. 

Dr. Park is Chairman of the Department of Surgery and Chair of the newly created Earl Simulation to Advance Innovation and Learning Center of Anne Arundel Health System in Annapolis, Maryland. Dr. Park has made major advancements in the improvement of laparoscopic procedures and the development of new medical devices for complex hernia repair, spleen and adrenal surgery. Dr. Park is a member of the American Surgical Association and is a Fellow of the Royal College of Surgeons of Canada, American College of Surgeons, and the College of Surgeons of Central Eastern and Southern Africa. Currently a member of the Board of Directors of the SAGES, he has also served as the Fellowship Council’s founding President and as its Board Chair. He is the editor-in-chief of Surgical Innovation, a bi-monthly peer-reviewed journal focused on minimally invasive surgeries. He is also the author of over 200 scholarly articles, the holder of 20 patents, and has been instrumental in the development and application of new technologies in endoscopic surgery.

Lee L Swanstrom, M.D.

Dr. Swanstrom heads the Division of GI and Minimally Invasive Surgery at the Oregon Clinic and is Director of the Providence Health System’s Complex GI and Foregut Surgery Postgraduate Fellowship Program. In addition, he is Clinical Professor in the Department of Surgery at OHSU, a Director of the American Board of Surgery, and Past President of both the Society of American Gastrointestinal Endoscopic Surgeons (SAGES) and the Fellowship Council (FC). Most recently, he became the Chief Innovations Officer and Director of the Innovations Fellowship at the Institutes des Hôpitalo Universitaires of the University of Strasbourg, France. He is the editor of Surgical Innovation and the author of over 300 scientific papers and 50 book chapters. This has resulted in 13 patents and a successful medical device startup company. He is and has been an investigator on numerous outcomes research studies for new procedures such as Natural Orifice Translumenal Endoscopic Surgery (NOTES) to determine their safety and efficacy for establishing new standards of care. He remains focused on developing innovative approaches to the minimally invasive treatment of foregut and other gastrointestinal disorders.

John Valvo, M.D. 

Dr. Valvo, a practicing surgeon, is the Executive Director of Robotic and Minimally Invasive Surgery at Rochester General Hospital in Rochester, New York, where he formerly was the Chief of Urology. Following a 20-year career performing open surgery, Dr. Valvo founded the robotic surgery program at Rochester General Hospital in early 2004, which currently ranks in the top two percent of robotic surgery volume in the United States. The program has trained over 30 robotic surgeons and enabled the completion of more than 7,000 robotic urology, gynecology, general and colorectal surgeries to date. Dr. Valvo has authored more than 100 scientific articles and helped start many robotic programs in the northeast. His focus on robotic surgery credentialing led to a notable published paper on policy guidelines for robotic surgery. He is a fellow of the American College of Surgeons and American Urological Association, and a member of the Society for Laparoscopic Surgeons.

Yanghee Woo, M.D. 

Dr. Yanghee Woo is an Assistant Professor of Surgery and the Director of the Global Excellence in Gastric Cancer Care at Columbia University Medical Center. She is an upper gastrointestinal surgeon with unique international training in minimally invasive/robotic surgery and expertise in the surgical treatment of tumors of the stomach, pancreas, small bowel, gallbladder and bile ducts. Dr. Woo is internationally recognized as a leader in robotic surgery for tumors of the stomach and pancreas, and gallbladder disease. She was the first surgeon in New York City to perform a single-site robotic cholecystectomy, multiport robotic gastric cancer operation with D2 lymphadenectomy, and robotic distal pancreatectomy for mucinous cystic lesion of the pancreas. She has numerous peer-reviewed publications, and she is invited to present at many lectures.


  Patent #                                                    Title of Invention
1 8,930,027   Force Feedback System
2 8,792,688   Methods, systems and devices for three dimensional input and control methods and systems based thereon
3 8,768,509   Snaking robotic arm with movable shapers
4 8,347,754   Multi articulating robotic instrument
5 8,332,072   Robotic hand controller
6 8,306,656   Method and system for performing medical procedure
7 8,224,485   Snaking robotic arm with movable shapers
8 5,853,394   Catheter
9 5,607,407   Catheter assembly
10 4,785,868   Medical needle and method for making


  PUB. APP. NO.  Title


This is a cutting edge/cost-effective (mobile) robotic surgical system which is being developed, with input from the SAB along with an expert team at Ximedica, with an objective of delivering multiple benefits to patients, surgeons, and hospitals. These include:

For the Patient

A shorter hospital stay

Reduced pain, scarring, and risk of infection

Less blood loss

Quicker recovery

For the Surgeon

Enhanced functionality, dexterity, versatility, field of vision via 3D technology and precision.

Improved ergonomics which can potentially extend surgeons’ operating careers.

For the Hospital

Decreased length of patient stay and reduced risk of infection improves patient throughput leading to improved return on assets.

Reduced risk of infection also contributes to improved margins on case rate procedures.

Increased patient satisfaction, which contributes to patient referrals and patient demand.

Increased physician satisfaction, which impacts physician demand for hospital usage in both robotic and non-robotic cases.

Lower cost / highly portable device (easily moved)

Improved Marketing with state of the art Robotic platform/technology available

Key Milestones

102.8 million O/S (Early November 2015)   Refer to for specifics on warrants, milestone costs, and cash on hand.

                                                   “Talent is a gift, but character is a choice.”

24 Month Stock Performance (TMD.TO and TITXF)

  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
Current Price
Bid Ask Day's Range
#27499  Sticky Note MY BEST EDUCATED GUESS: Honeycomb777 11/06/15 11:23:08 AM
#24852  Sticky Note The AGM is *finally* up: investinthefuture 08/20/15 05:04:58 PM
#17239  Sticky Note Here's a link to them: CUIN2 11/17/14 11:48:50 PM
#28669   I tend to agree. I hope Im Geo2014 12/01/15 12:57:14 AM
#28668   I believe these are the reasons we lost CUIN2 12/01/15 12:00:56 AM
#28667   Just read that the company that brokered Titan's bernard7777 11/30/15 11:59:50 PM
#28666   To add to my previous post...their lack of cptjsd 11/30/15 11:35:37 PM
#28665   I don't think they are hiding anything. cptjsd 11/30/15 11:26:00 PM
#28663   I concur. Question is (and has been Geo2014 11/30/15 11:04:44 PM
#28662   I agree, they need to stop with the Longmoney 11/30/15 10:58:22 PM
#28661   The single use end effectors still need to ddreturns 11/30/15 10:25:44 PM
#28660   It's almost time to see what 40 - CUIN2 11/30/15 10:23:19 PM
#28659   I agree Titan, Alan Conor President of Cadence pontiacg6 11/30/15 10:17:17 PM
#28658   Nice find btw on the harmonic scalpel. If Times Yours 11/30/15 10:16:42 PM
#28657   This is correct from the reading I have done. CUIN2 11/30/15 10:16:19 PM
#28656   Then u must know the difference bt reusable RockoTaco 11/30/15 10:14:30 PM
#28655   I shall rename you! Your new name is posilock 11/30/15 10:10:57 PM
#28654   Very possible. I was a believer in ddreturns 11/30/15 10:08:47 PM
#28653   DD I believe that Mr Taco is right Times Yours 11/30/15 10:07:52 PM
#28652   Just a guess, but Cadence has a Rhode CUIN2 11/30/15 10:02:05 PM
#28651   I sell in the OR everyday and know ddreturns 11/30/15 09:50:16 PM
#28650   Clarity is lacking, intentionally, IMO. Joco1 11/30/15 09:35:02 PM
#28649   First, I am not familiar with the medtechy RockoTaco 11/30/15 09:34:05 PM
#28647   Are you still invested here? CUIN2 11/30/15 09:20:16 PM
#28645   Look for new lows by year's end... elcaribes 11/30/15 09:13:33 PM
#28644   Good point! That could be the dagger Geo2014 11/30/15 09:10:43 PM
#28643   Really good question ! diamond482 11/30/15 09:10:05 PM
#28642   I just went and looked at J&J's job ddreturns 11/30/15 09:09:15 PM
#28641   No one mentions Titan on the Medtech(y) Board Geo2014 11/30/15 09:08:36 PM
#28640   Good question. CUIN2 11/30/15 09:01:39 PM
#28639   What's the difference between instruments and end effectors? ddreturns 11/30/15 09:00:15 PM
#28638   I still can't figure out why? CUIN2 11/30/15 08:34:41 PM
#28637   Boom!!! Adrock 11/30/15 08:06:47 PM
#28636   Titan announces partnership for manufacturing instruments - NAMES RockoTaco 11/30/15 08:04:47 PM
#28635   Why would you spend $.20 premium? bobbysixty 11/30/15 06:14:37 PM
#28634   THE REGULATORY Endofanera 11/30/15 05:55:12 PM
#28633   You make several good points. Now by BIGKAHUNA57 11/30/15 05:43:34 PM
#28632   Dennis Fowler to present day one SURGICAL ROBOTICS: OPPORTUNITIES pontiacg6 11/30/15 05:38:10 PM
#28631   Agreed...they might as well have released the news Flenderson 11/30/15 05:24:59 PM
#28630   Looking to buy back in. davens 11/30/15 05:16:36 PM
#28629 44 pages, of 4 pontiacg6 11/30/15 05:14:06 PM
#28628   Very likely. Geo2014 11/30/15 04:50:30 PM
#28627   Robotics Alley conference tomorrow. Maybe we get a JMAC13 11/30/15 04:27:29 PM
#28626   Could be year end selling. Taking losses to chillout 11/30/15 03:53:38 PM
#28625   Yes, I realize that. Thanks! Geo2014 11/30/15 03:50:06 PM
#28624   And again...... I'm amazed that someone would sell BIGKAHUNA57 11/30/15 03:05:38 PM
#28623   So Titan won't be uplisted for at least DRG1025 11/30/15 03:02:46 PM
#28622   IMO. All that would need to be BIGKAHUNA57 11/30/15 03:01:47 PM
#28621   Is this the new norm? Stagnate movement on Longmoney 11/30/15 01:59:30 PM
#28620   Mutual fund managers are not allowed to invest whynotmewhynottitan 11/30/15 01:31:29 PM
#28619   Careful what you talk about on here. I Geo2014 11/30/15 01:14:08 PM
#28618   Up Listing Requirements... whynotmewhynottitan 11/30/15 12:19:06 PM
#28617   Totally Agree!! whynotmewhynottitan 11/30/15 12:13:52 PM