Titan Medical today provided a progress update regarding its planned merger with surgical guidance technology company Conavi Medical. The companies entered into a definitive amalgamation agreement to combine in an all-stock transaction last month. They aim to commercialize Conavi’s Novasight Hybrid system for guiding common minimally invasive coronary procedures. Conavi Medical designs, manufactures and markets imaging […]
Titan Medical
Titan Medical settles dispute with contract manufacturer
Titan Medical announced today that it entered into a settlement agreement after a dispute with an unnamed contract manufacturer. Toronto-based Titan agreed to pay the contractor $2 million to settle the dispute, according to a news release. Its final payment installment is set to be made on or before June 24, 2024. Upon the receipt […]
Titan Medical enters merger with Conavi Medical
Titan Medical announced today that it entered into a definitive amalgamation agreement to combine with Conavi Medical. The companies aim to combine in an all-stock transaction, focusing on commercializing Conavi’s Novasight Hybrid system. Conavi designed Novasight Hybrid to guide common minimally invasive coronary procedures. This merger comes after more than a year of uncertainty around […]
Layoffs in medtech: These companies recently reduced their workforce
The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs. You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more. For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply […]
The top medtech trends of 2023
The top medtech trends of 2023 included innovations such as artificial intelligence, new GLP-1 weight loss drugs and some long-awaited medtech finally receiving regulatory nods. With health providers facing additional challenges on top of an ever-uncertain economic environment, medtech companies also made major readjustments: layoffs, spinoffs, reorganizations and much more. Here are the top stories […]
Titan Medical licenses out most of its IP to Intuitive, CEO steps down
Titan Medical recently announced it entered into a licensing agreement with Intuitive Surgical and that the company’s CEO is resigning. Under the agreement, robotic-assisted surgery company Titan Medical has granted Intuitive a non-exclusive license to all of Titan’s IP, with the exception of the IP that is exclusively licensed to another party under a June […]
Titan Medical is down to a bare-bones operation as it looks to sell IP
Titan Medical (Nasdaq:TMDI) announced today that it laid off a slew of its senior leadership team members as it explores strategic alternatives. Toronto-based Titan’s actions stem from a November announcement of a strategic review, including the exploration of a sale. A week later, the surgical robot maker implemented cost-cutting measures that included the furloughing of […]
Titan Medical meets with strategic buyers and investors as surgical robot developer considers its future
Titan Medical (Nasdaq:TMDI) met with potential buyers of the surgical robotics company this week in San Francisco. The Toronto-based medical device developer has been considering the best options for investors and the company’s Enos surgical robot. Facing delisting of its stock from the Nasdaq exchange due to its low price last year, Titan Medical announced […]