Titan Medical Inc (TMDIF)

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Toronto-based Titan Medical has been developing a surgical robot that will sell for only $800,000 – less than half the cost of a da Vinci system. It will also provide the surgeon with unsurpassed flexibility while conducting operations, due to the invention of a new, snake-like technology that enables a single entry point while carrying all of the cameras and high dexterity instruments that are needed.

The SPORT robot enables ‘single port’ surgeries, meaning that only one small incision needs to be made. Titan’s founders believe it is a major improvement over other systems on the market, as it offers much better flexibility and superior imaging.

“We developed a very flexible arm, with seven plus one degrees of freedom,” said Dr. Reiza Rayman, president of Titan Medical. Moreover, the single port system carries not one but two cameras for extra-precise imaging.

“This 3-D view allows for more accurate surgeries,” said Dr. Rayman, explaining that poor imaging in other systems has led to less than ideal outcomes in some cases.

Prototypes of Titan’s SPORT robot will soon be available, and testing on humans is expected to begin in 2016. The system is scheduled to be commercially available by mid-2017.

Not only is the device less expensive than other surgical robots, but it will also have a smaller footprint, allowing it to be moved from one OR to another or to ambulatory settings.

All three speakers agreed that major technological changes and cost reductions will have a huge impact on the medical sector, with surgical robots entering the operating room like never before.