Good Morning HC... Well, it is so far anyway, but the trading bell hasn't rung yet!
To your first question, I do not believe Medtronic will snatch Titan up prematurely (I believe they SHOULD; more on that in a moment...). They have not done so in the past; their rapid acquisitions are smaller potatoes, up to several hundred million dollars for a deal that gets announced and closed within a few weeks of the announcement, or the announcement isn't made until it is already a done deal. So if we were to be a sub-billion dollar purchase by MDT, it would already be done. Their most technologically similar acquisition was put on a timeline, that being Mazor. They didn't take any shortcuts with that one; everything ran according to the schedule with the only variable being the actual FDA approval for X. This would mean our deal is most likely to close then (at FDA approval for Enos). However, someone pointed out that a new administration could be voted in come November. The reason this could be significant is that the Covidien deal was bitterly fought by the Obama administration in 2014. MDT overcame those objections eventually, but maybe they won't want to deal with that nightmare again if Biden wins, so the election could provide impetus for MDT to say "Screw it, Do it Now!" That would give them a little over 2 months to finish the deal before Biden attempts to, "uh, pledge allegiance to the fla... no, not that, uh, oh... Is that a bible? Is it autographed by the author? Oh, uh... Oh, swear in? Okay... Tell me what to say... wait, that's too many words..."
Anyway, Medtronic has about $11B cash on hand and could easily drop half of it into a quick Titan acquisition to avoid a grudge match with Joe and the Stoner Chick. Otherwise, I think there would need to be some other reason to shortcut the current schedule (e.g. JnJ sniffing around too closely or buying Titan stock). But if Trump gets re-elected and the FDA tightens the noose on predicate device rules, we could be into 2022 before closure. All conjecture at this point, of course...
As to your final questions, I will refer you you a post from 2 weeks ago, post 112042, in which I answered the same basic question. In summary, I email Titan management on occasion and I coordinate with a select group who periodically talk with Mr. McNally on the phone to share our concerns directly (where he remains equally tight-lipped about the future). As to what has fundamentally changed since the prior management team? Let's see... Mr. McNally has a history of bringing medical devices to the market successfully. He succeeded in selling a medical device company to a larger organization. He has leveraged the award-winning patent program to induce a giant med tech company into an agreement whereby we co-develop the end product(s) and based on their history, we surmise a likely buyout scenario, or worst case, we end up with an FDA approved single port surgical robot that we can sell and support (which should put valuation into the several billions) or some other big $$$ big med tech company buys us out for that reason (also a several billion dollar scenario). That is worst case in my mind only because of the timeline which would then be involved. I want to retire before 2023 if possible! (Tomorrow would be best.)
Message in reply to:
All I will say is that the majority of folks love to pile on investors instead of the very Mgt who are running this PUBLIC company. You have been around a long time, so I tend to respect your posts because you have actually lived it more then most. You are definitely not a newbie.
I think we all want Titan to succeed, but the ones who have been the most correct here have not been the "pumpers". So here are my questions for you:
If MDT is a suitor, then do you really think they snatch TMDI up BEFORE human trials start ? I believe they will pay more once they understand how human trials go and if the robot is viable. I can potentially see them making a BO offer prior to FDA approval but not before human trials, hence the milestone payment arrangements.
So, anything is possible, but to wake up next Monday with BO news is (to me) a fairly low probability. Plus, I would never sell more than 3-5% IMO as if major news did happen, you wouldn't jump off a bridge because you were completely out. Again, it is a suggestion/idea for folks to consider. I did just that and BOTCHED it and still have a few more shares. I'm upset I didn't wait - would have gone ape shat... buying all I could today.
I will close out the post with this...YOU, of all people, YOU wrote and sent that letter years ago. So why haven't you done the same thing now...what has fundamentally changed with this company (for the better) that you feel so confident about ? Please share
