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That Oct 13,2016 announcement did not say WHEN they would get started with Ximedica again. My guess (hedging on Titan's history) is that nothing has started yet.
Maybe they should tell us, huh?
Snore.
Let's see some evidence that Ximedica working on SPORT.
Another clown for CEO and it's all over; I hope they are doing a solid search.
That being said, I want someone who sees this as the opportunity of a lifetime, loves the product, and wants to make big money for themselves, has tech savvy, and wants to make a name for themselves, and give ISRG a kick in the ass.
So, who's running this search. Hopefully Titan didn't place an ad in some rinky-dink Toronto community business newsletter. But you never know.
If Paige is on the payroll she should not be. All focus on freeze, and CE FDA submission...now!
Good to know, thanks.
I wish he was a more visible presence for the company.
Not really a big deal to me. What I would like it to mean is that we have increasingly deep ties to Ximedica, because our 'team' has never done any of this work on SPORT, except for direction from Fowler.
If our PhD. in Biophysics and Telesurgery guy Rayman, has ever contributed with actual nuts-and-bolts ideas, I'd love to know it.
Well they always seem to wait a good long while before announcing what is going on, but I'm getting that silent feeling again.
I am sure that Ximedica, through the inventor's position as being in their employ, also has rights on the patent. Unless they turn that over as contractors. However, I can't see the contractor supplying "unlimited" time to provide intellectual property with potential value. That's why I'm surprised that both companies are not listed.
Most likely, the inventor is beholden to Ximedica in terms of ownership.
Robert works for Ximedica. So why is the patent application filed as Titan Medical with his name as the inventor?
My take on the abstract is a device either to assist with suturing and/or retraction.
In any case, it appears that it might be an attempt to create a "third arm" for the now two armed SPORT. If so, it would probably require significant mechanical changes all the way back to the operator.
The timeline for the CE mark is disappointing.
And I hate to say it because I'm not young myself, but a CEO approaching 80 is not going to sell anything in a high-tech sector; they might be good at selling new insurance products.
Like to know they are lining up interviews for a new CEO.
Yes, and at the very least it helps the pps stay at a healthy level for it sector. I don't think Hargrove or Fowler or Rayman or the CFO, or the board for that matter ever appreciated that there is a baseline valuation and visibility that must be maintained. Pennystocks are generally believed to be losing propositions, for daytraders to churn, not for technology startups. They let it drift that way, despite frantic calls on this board by knowledgeable posters, that that could spell disaster.
Still a pennystock, boys.
We are waiting on the next good news. Let's have it.
And now Fowler is not even around to push the name. So given what I have seen here at my institution, and heard here, Titan does not exist. I think it is long overdue to seed the medical investor community with the knowledge that there is an imminent new surgical robot that will be appearing, granted it will have to pass regulatory approval. I think that mention of the names of Titan's contractors is a good thing to have happen on this board. My post was erroneous; however, it makes those people check, talk, and wonder what their status in the minds of the investment community really is. There is no doubt that this Ihub board is the most prolific source of information and chatter about Titan.
I think EVC is kaput for titan. Not mentioned on Titan website (anymore?) or as a contact under investor relations. If so, good riddance. If so, I'd like to see a info release to the investors.
Agree completely. I have never had a sense that having Bertner or EVC on board has accomplished anything, even a properly updated website. At the very least, the website is the easiest way for these companies to communicate.
A call every 6 weeks would be adequate. Titan CEO and one other Titan management person would participate. Questions would need to be put beforehand to them, and an option for them to state that they cannot answer at thas time or in detail must be respected by the shareholders during the call. The call must only have 1-3 representatives from the shareholders that are allowed to review the questions with management. Others can only passively listen. That would be a reasonable way to start.
Based on this concept, it would be wonderful instead if Titan arranged this type of conference call themselves, via EVC as a moderator.
An easier approach logistically, and one that we know can actually work, is to have Titan answer a selection of questions put forth by shareholders which have been provided by email, The Titan answers themselves can just be provided in a REGULARLY SCHEDULED email to the shareholders on their email list. In other words, how about if they could just issue regular updates with some answers to questions they can decide to answer or realize that many shareholders are asking. I'd settle for that alone.
One meeting a year to do that is not enough!
I sent the Verb video link to Amanda Prior of EVC. I'm sure she has seen it anyway.
Man, all good ideas and I hope they follow through on them. But it begs the question: don't these people know this already? What the heck were they doing all those months and years?
I guess all that doesn't matter now, if they have some new blood running the show. But show me who is passionate about SPORT; I haven't gotten that impression form any of them yet. I can't believe there are not many medtech-savvy potential CEOs out there who would love a chance at getting this thing flying. Are you kidding me!?
If everything we have seen and heard about SPORT is true, Titan can put a working, quality robot in play within 2 years.
Then they begin to make money and incorporate the incremental advances in technology as they become useful, efficient, and cost-worthy. That's what all technology does. Titan can be competitive right now on price and size. That is what is important.
In-OR virtual surgery modeling and utilizing multiple imaging data sets, and automated surgery is still 10+ years off as VERB is "imagining" it. I work with academic surgeons and we are working on just image analysis and software pre-surgical planning ideas; it is slow going. Real world experience and demonstrated need, let alone proving it improves outcomes takes time. Surgeons plan complex surgeries before ever getting to the OR, and then everything changes anyway. Too much info is a time-sink and a distraction, both of which are negatives when a surgical procedure needs to get done, especially if it is straightforward.
SPORT, if it truly works (ie. snake arm type manipulators), could step into the picture right now.
Verb is not just going to show up with the universe's greatest surgical robot all of a sudden. But they will attract investment if they show PR pieces like that. So could we with a well done video just showing what SPORT can do right now.
Right; "Who is Titan?" has always been the question, at least since Hargrove came on. Even Fowler was not really a figurehead, or a face to the company for investors, maybe only to doctors.
That's why I said they've got to be led by someone who LOVES the potential of SPORT and wants to SELL it and wants to compete with ISRG, AND wants to make MONEY too! A bit of an egomaniac... I don't mind. Can champion the features that SPORT has that are likely to make it great to do surgery with. And no shame in the money part.
I'd have your friend cold call the new CEO.
Can't hurt.
Yea, the "C-suite" being a bit of a stretch.
A secretary in Toronto, Rayman whereabouts unknown, Hargrove sleeping on a porch somewhere in NC, Paige shopping for fine wines at a French Chateau on our dime. Randall cursing because he doesn't want to pick up the phone. Fowler miffed because Ximedica won't reengineer a foot pedal for free.
Some C-SUITE!!!
I'd like to believe you have an inside track to information, but don't.
Thanks for the optimism anyway.
In my opinion, yes.
Only each announcement of positive progress will move this pps up for a small amount and a short time. Any long delay in hearing news, or delay seeing SPORT demonstrated at conventions, video releases, etc., will see the price decay again.
Titan Medical still exists as a relative unknown, and is increasingly relegated to the fringe with every big pronouncement by the Verb project, or even anything new by ISRG, or for that matter any of the up-and-coming surgical robotics companies making announcements.
Titan as a brand was absolutely poisoned by the previous management under Hargrove and continued inactivity by Rayman.
Announcement of design freeze, submission for regulatory approval, large dollar financing, or partnership are the only significant movers for pps foreseeable right now.
Is there any usefulness to send the letter along to anyone at Ximedica?
I realize there are possibly negatives to doing this too.
Agree, love to hear that Ximedica is rightly proud of their work; they should be. They should also want it to succeed for their own sake. HUGE feather in their cap if it does. Other startup robotics groups will definitely seek them out.
Other takeaways from the statement.
“This agreement and the decisions by the Board of Directors earlier this week demonstrate the committed effort of our company to advance the SPORT Surgical System.”
I truly think 'and the decisions' means to shitcan Hargrove, Appoint COB, etc..., and said with a bit of comeuppance to the way things were being run.
Also, I may be wrong on this but did the previous bio on Rayman state, 'and is currently an active practitioner who has performed over 400 robotic surgeries' as it does now. I don't remember the 'is currently active' phrase being there before. I'd still like to know the institution he practices at.
Beautifully written.
Management, BOD, and concerned shareholders should all be thankful that this is all in writing and helping put everyone on common ground.
True. It could bleed them dry in the long run, but there is no other option. They also need to hire a good practicing surgeon/advisor, and a director of engineering to interface with Ximedica on a continuous basis.
Newest, smallest lap chole performed with the mewly approved system by Fortimedix.
For general board info on current technologies.
https://www.mdtmag.com/news/2016/10/new-approach-gallbladder-surgery-smallest-reported-incision?et_cid=5613051&et_rid=1041418469&location=top&et_cid=5613051&et_rid=1041418469&linkid=https%3a%2f%2fwww.mdtmag.com%2fnews%2f2016%2f10%2fnew-approach-gallbladder-surgery-smallest-reported-incision%3fet_cid%3d5613051%26et_rid%3d%%subscriberid%%%26location%3dtop
Maybe he is incapacitated in some way?
He is not a figurehead in any way. What the heck does he do all day?
He can't be a mental midget?
Jeezus' at least make a statement to shareholders once in a while you f'ing twit!
Boils down to who in titan Inc is passionate about titan and sport succeeding. Apparently the dish rag of a president isn't. Fowler was, but likely ran development too far for the platform to get a foothold into regulatory approval by this time. So hopefully someone with a bit of a desire to succeed and make a ton of money will be the next CEO and God help us we need a replacement for that goober Rayman too.
JH, RR, and SR; worthless.
Listen, I know surgeons who love their craft so much they work their career until they are no longer able to physically. Or they are hacks and they wash out or get sued out of a profession because they are no good. Doesn't mean they are bad people, but they aren't cut out of the right cloth. Surgery is basically the most demanding and high responsibility profession there is, even for podiatry and cosmetic and dental surgery, let alone cardiac, brain, orthopedic, ENT, general, etc..
I'll say it right here until I'm corrected: Reiza Rayman is not a practicing surgeon. I don't know if with his PhD and other degrees he is an active academic, but I don't see that he does that either. Correct me if I'm wrong.
Now that doesn't mean he's not a reputable guy or just lucky enough to be independently wealthy, but in my opinion that means he has NO MEDICAL CRED at all anymore. Surgeons know what surgeons to respect, ones who practice their craft at the very least.
By his apparent inaction with Titan he is not a good businessman either.
Prove me wrong.
Dad and daughter are still on LinkedIn with Titles at Titan. JH is still listed as Chairman and CEO.
He never even updated it when he went off the Board.
What was Paige making? Maybe it should be returned?
This line from the press release is, I believe, an indication that they are going to trim all unnecessary dead wood.
"At the same time, we are examining our cost structure with an eye on focusing resources on the SPORT’s development.
If JnJ still sells floor wax, that may be a division Hargrove can apply to.
Thank you a thousand times. I for one am convinced that your first letter set the match to this festering situation under the now-terminated JH.
Carefully read the wording of the press release from the Titan website.
Sounds like Hargrove got kicked out on his ass. Love it. I hope he was surprised too.
Randall next, please.
Then ask Rayman what the hell he is president for.
And tell me what Paige is up to at the moment.
Just be ready. The new guys might be out to sell this mess that JH, RR, SR made, ASAP.
If SPORT is to make it to market, Titan needs someone in charge now who LOVES and BELIEVES in SPORT (and/or the money it could make!); Fowler loved the technology, but he was not the management. If Rayman did, we should have heard a peep out of him in the last 3 years. Did anyone?