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Titan Medical Inc.

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Titan Medical Inc. is a Canadian public company, headquartered in Toronto, Ontario, and listed on the Toronto Stock Exchange (TMD) and the OTCQX in the U.S. (TITXF). Titan is developing  the SPORT™ (Single Port Orifice Robotic Technology) Surgical System for use in minimally invasive surgery (“MIS”) that is expected to be commercially available in 2015. The SPORT™ Surgical System includes the following:

  • a single-port surgeon controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and
  • a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient’s body during MIS procedures.

Titan’s robotic surgical system is being designed to expand robotic surgery into areas that are currently underserviced. This will allow surgeons to perform procedures within small to medium size surgical spaces such as general surgery and cholecystectomy. Currently, the most common medical procedures for which robotic systems are used are hysterectomies and prostatectomies. Titan plans to target general surgery (gall bladder and appendix removal) and ear, nose and throat procedures.

Titan has a medical advisory board composed of world renowned surgeons and has established partnerships with academic institutions and hospitals across the globe including Rochester General Hospital, University of Florida, Children’s Hospital Boston, Apollo Hospital Group (India) and The Ohio State University.

Titan has completed the first phase in the development of the SPORT™ Surgical System and is starting the second phase which consists of tissue and cadaver testing. Following the second phase, there are two further phases of testing – the third phase which requires the building of a pre-production prototype and the fourth phase which consists of preparing the surgical system for commercialization. Commercialization is currently scheduled for the second half of 2015.

Global annual medical robotic revenues are currently approximately $4 billion and are expected to grow to $20 billion by 2020. Titan is planning to first commercialize the SPORT™ Surgical System in Europe followed by the United States, the world’s two largest markets for robotic surgery.