Medtronic pays 31 mil for licensing agreement, 2 million and 18 million in 2 offerings and 10 mil “upfront”(meaning they can pay more as milestones are hit and Titan is progressing towards FDA approval) If this is all occurring, as you said, Medtronic would own about 25-28% of the company for let’s say 100 mil..... In a buyout situation, they would actually only be paying for roughly 90mil shares/warrants.... So- did Mc and company actually take care of us longs? Correct me if I am wrong- since Medtronic would only be paying for 90 million shares( they don’t pay themselves for the other 35mil) - let’s throw a number out there- say $50- that would be a 6.25 billion buyout in the press, but they would actually be buying the company for 4.5bil plus the 100mil they just spent. That is 4.6bil.... based upon Auris and the 70 billion dollar mkt cap of ISRG- this is a steal at 50. If Titan can truly compete against ISRG, the price should be 80 at least. That puts Medtrojic spend at 7.3 billion. They would make that back in 2-3 yrs. Medtronic contracts are designed to deliver the best in class products, encompass all divisions and show cost savings for the hospital systems. All major hospitals either have their own buying group or are part of a major buying group. The only thing Medtronic is lacking at the negotiating table is a robot. Right now they offer, CRM, EP, Structural Heart and TAVR, Coronary stents and balloons, Peripheral stents and balloons, Aortic stent grafts, Nuero,ENT, General Surgery, Gyno, respiratory, Spine and Urilogical. They can lock up whole buying groups. ISRG has no other divisions to defer costs/rebates. No other medical device company would compete.
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