Titan Medical Inc (TMDIF)

[flybabyfly]

Surgery at the cutting edge
Another company at the conference, Titan Medical Inc (NASDAQ:TMDI), is literally at the cutting edge of innovation in the field of surgery. It designs and manufactures robotic surgical systems.

A restructuring in 2017 brought CEO David McNally to the Toronto-based company, and after some key hires, he said it’s now on a fast-track to commercialization.

Titan Medical expects to have applications for its SPORT Surgical System submitted to the FDA and European regulators for a CE Mark in 2019, with a rollout in mid-2020.

While robotic surgery is nothing new, McNally told Proactive Investors that SPORT will not only be the most advanced but the most user-friendly robotic system for abdominal surgery on the market.

By concentrating on the abdominal area, the system will be able to support a wide range of minimally invasive surgeries, such as gynecological, urological and colorectal other procedures.

“Our system is designed to reduce trauma to the body while being easy to operate for the surgeon and the operating room staff,” McNally said.

The first goal, to reduce patient trauma, is achieved by making only a single incision. McNally said that numerous studies on live animals and human cadavers have shown positive results thus far.

“It’s a red-hot space and the problems covered by robotics are only beginning to be solved,” McNally said. “Market penetration is only 10% globally.”

The development-stage company has invested more than $140 million in the system, has about $30 million in cash on hand and no debt on its books.