Titan Medical Inc (TMDIF)

[chambers]

If I only knew LOL.

I think it will be by a major healthcare company. I feel stupid saying that because that’s obvious.

It could be by any of the current players in the field today.

In the past I would have said Mako Surgical or Stryker however Mako was purchased by Stryker so Stryker is still on the table as a possible acquirer. Make was into hard tissue (bone) and so Titan would be very complimentary as they are non-competitive to what Mako did.

You could also look at J&J. This is a natural for J&J.

I also would have normally thought GE Medical but my understanding is they are sticking to and continuing to focus on imaging. This still makes sense as they have the vision system where GE could apply their technology.

There are others out there such as Hansen Medical as well. There are more names however I will have to do some more DD when I have more time.

Frankly, the natural buyer should actually be Intuitive Surgical. The doctors hate Intuitive from what I understand. Titan has lots of what the doctors want in their product today and they would get the patents as well. It would save them a whole lot of time developing their own product with Titans bells and whistles and they could probably do the purchase for cash, shares or combination of both.

As for a time frame, I think sooner than people think now that they are cashed up. A competitor would not want them to get the product 100% completed which would increase the value substantially so there will be eyes closely watching Titan.

If they are not acquired then they will at worst form a JV with major group which would bring in more cash (not for stock) and bring in a ready made distribution partner.

Unfortunately I strongly feel this is a $10 stock (which still values Titan at the low end of the spectrum compared to its peers) but because it’s a Canadian company it will probably get taken out for something more like $5 to $7. I am only guessing though and applying a 30% to 50% discount to what its real value should be.