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 […]
Titan Medical Inc.
Titan Medical gets closer to Nasdaq delisting
Titan Medical (Nasdaq:TMDI) announced today that it received notification of potential delisting from the Nasdaq market. The Nasdaq Listing Qualifications Staff notified the company of its continued non-compliance with the $1 minimum bid price requirement. Based on this non-compliance (as of Dec. 26, 2022), Nasdaq may delist Titan securities unless the surgical robotics company requests […]
Titan Medical wins new surgical robotics patent
Titan Medical (Nasdaq:TMDI) announced today that the U.S. Patent and Trademark office (USPTO) issued a new patent for its surgical robot. The USPTO issued patent No. 11,504,191, titled “Graphical User Interface for a Robotic Surgical System.” It generally covers a graphical user interface (GUI) overlay of a surgical workspace to track instrument movement. According to Titan, […]
Titan Medical shelves its plan to avoid Nasdaq delisting
Titan Medical (Nasdaq:TMDI) is suspending a special meeting of shareholders that was supposed to vote on a share consolidation plan. Since announcing the plan for the Jan. 12 meeting, however, the surgical robotics company’s management has decided to instead begin a strategic review. A sale of the company is a possibility. Meanwhile, Titan has also […]
Titan Medical to implement cost-cutting measures, furloughs 40 employees
Titan Medical (Nasdaq:TMDI) announced today that it plans to implement cost-cutting measures that include temporary furloughs. News of cost-cutting follows last week’s announcement that Titan plans to review and evaluate strategic alternatives. Toronto-based Titan develops single-access robotic-assisted surgery technology. It consulted with financial and legal advisors to determine that the review is in the company’s and […]
Titan Medical to begin strategic review, may explore sale
Titan Medical (Nasdaq:TMDI) announced today that it plans to review and evaluate strategic alternatives to unlock shareholder value. Toronto-based Titan develops single-access robotic-assisted surgery technology. It consulted with financial and legal advisors to determine that the review is in the company’s and stakeholders’ best interest. According to a news release, Titan’s board plans to consider […]
16 surgical robotics companies you need to know
Intuitive remains the dominant surgical robotics company, but corporations ranging from Medtronic to Vicarious Surgical look to compete. Robotic-assisted surgery remains one of the hottest spaces in medtech. Intuitive, which pioneered the field in the 1990s and early 2000s, continues to innovate. At the same time, a host of other companies are looking to compete. […]
Titan Medical to seek share consolidation to keep Nasdaq listing
Titan Medical (Nasdaq:TMDI; TSX:TMD) said today that it will hold a virtual shareholders meeting on Jan. 12, 2023, to seek approval for a share consolidation plan. The surgical robotics company described share consolidation as the last option to regain compliance with Nasdaq’s $1 per share minimum bid price requirement and retain its listing. Titan Medical […]
Titan Medical CEO sees ‘unique opportunity’ for Enos surgical robot in an increasingly crowded field
Titan Medical CEO Cary Vance discusses the Enos robotic surgery platform, deals with Medtronic and supply chain silver linings. Titan Medical President and CEO Cary Vance said he knew what he was getting into when he was approached about leading the robotic surgery company. “The challenges, I knew what they were,” said Vance, who had […]
Titan Medical, Medtronic strike development deal on surgical robots
Titan Medical (TSX:TMD;OTC:TITFX) today announced the signing of a new agreement with medtech giant Medtronic (NYSE:MDT). The definitive agreement builds upon a development and license deal agreed in June 2020. Titan achieved all three milestones laid out in the agreement, including raising $18 million in capital in October 2020. It also received a $10 million payment for the second […]
Titan Medical to start manufacturing Enos systems later this year
Titan Medical (Nasdaq: TMDI; TSX: TMD) expects manufactured units of the Enos robotic-assisted surgery system will be available later this year. The goal is to commercially launch Enos in early 2025 after securing a De Novo market authorization from the FDA, the Toronto-based robotic surgery company said during its second-quarter earnings report today. Titan Medical […]
