Titan Medical Inc (TMDIF)

[davens]

Titan Medical Moving Closer to Introducing Surgical System

Titan Medical recently announced a $16 million investment from the Shanghai Jugu Investment Fund.In a press release the company announced the proceeds will be used for the continued development of Titan SPORT (Single Port Orifice Robotic Technology)surgical system,which is intended for use in minimally invasive surgeries (a single port is a single incision).

The Toronto-based Titan plans to introduce the system to markets in Europe and the United States over 2016-2017.The surgeon-controlled single incision robotic platform incorporates a 3D high definition vision system.The system proves to be beneficial to patients since it will result in a quicker recovery,reduced pain,and smaller scars.In addition,surgeons will have improved vision,improved movement when making incisions and will be minimally invasive.

“We are very pleased that Shanghai Jugu has recognized Titan as a valuable investment opportunity,” commented Reiza Rayman, President of Titan Medical Inc. “This is an indication of emerging market interest in our technology and the value that it can bring to healthcare.”

John Hargrove, Chairman and Chief Executive Officer of Titan, commented, "The SPORT™ Surgical System is expected to provide value clinically, financially, and operationally. As such, new markets that were not previously served can be addressed with our technology."