Titan Medical Inc (TMDIF)

[66Mustang]

I don't think today's "discount" will affect the end buyout price in a meaningful way. Mr. McNally is fully aware that he is beholden to ALL shareholders, not just the owners of the 20-25% of shares bought today. He knows what the company is worth and what the patent portfolio is worth. Surely better than any of us by now.

I have elsewhere posited that nobody could put together an $18M deal in one day. The Medtronic deal was announced on Thursday. The fund raising for the exact needed amount was announced before trading opened this morning. To put together that sort of deal, I believe (my opinion, of course) that it takes more than a passing Friday to say "Hey, you need $18M and I have exactly that! Let's do a deal". Then clear regulatory hurdles, make funds available, contracts and lawyers who always take care of business in less than one 8 hour work day. Sorry, I'm not convinced it could be anything other than a Medtronic affiliate or subsidiary. Again, just my opinion; feel free to devise your own opinion.

Bear in mind Medtronic is also free now to use some portion of the licensed patent portfolio separate from Titan's development trajectory. Each will be just another piece of their offerings as they weaponize to do battle with the reigning king of robotic surgery. It's nice that they chose to use our weapons... or maybe they had no other choice. Our portfolio was likely the only pathway to single port competition; otherwise our patents and ISRG's combined may prevent any additional competition in that space for several years to come. Just ask JnJ, Stryker, etc. - any or all of whom could become bidding war competitors in a year or so!


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It tells me they legitimately want a piece of this company if all goes well through the remainder of development. It also tells me they would have acquired a stake in Titan to help fend off bidding competitors. The final price tag will be a bit lower however since this would mean they've acquired a partial stake in the company at a deep discount compared to what it might be in a year or so.