Titan Medical Inc.

Titan Medical Inc.

May 11, 2011 08:00 ET

Titan Medical Inc. Announces Memorandum of Understanding With Crouse Hospital

TORONTO, ONTARIO--(Marketwire - May 11, 2011) - Titan Medical Inc. ("the Company") (TSX VENTURE:TMD) announced today that it has signed a non-binding memorandum of understanding (MOU) with Crouse Hospital, Inc., a 506-bed acute care hospital in Syracuse, NY.

Under the terms of the agreement, Crouse Hospital will test and evaluate the Company's Amadeus™ Next Generation Surgical Robotic Platform. Crouse Hospital will provide the Company with detailed feedback as appropriate.

Dr. Reiza Rayman, President of Titan Medical Inc., commented, "We are very excited to work closely with Crouse Hospital, a recognized pioneer in ambulatory surgery, in the pursuit of validating and advancing our next generation robotic surgical system into clinical trials."

Dr. David M. Albala, M.D., Chief of Urology at Crouse Hospital and Medical Director for Associated Medical Professionals, said, "This is an exciting development for robotic surgery in Central New York and it certainly speaks volumes about Crouse Hospital's commitment in advancing surgical technology as a means to deliver the best potential outcomes to the community. I am thrilled about the opportunity to be one of a few sites in the country that will perform further testing of Titan Medical's next generation robotic surgery system. My early testing of Titan's prototype platform has been very encouraging. The Titan system already delivers many improvements from our current system and I am optimistic that there is more to come."

About Crouse Hospital, Inc.

Crouse Hospital, with 2700 employees, is Central New York's largest provider of maternity care services, delivering more than 4,200 babies annually, and is the state-designated regional referral center for high-risk neonatal intensive care services.

Crouse also operates one of the longest-running and largest ambulatory surgery programs in the U.S. in two surgery centers near the main hospital complex. Phase 1 construction on the Witting Surgical Center, a three-floor, state-of-the-art facility, was completed in late 2010 with the opening of 11 new operating rooms. An additional three ORs are scheduled to open in late 2011, completing this $50 million project.

Other specialties include comprehensive diagnostic and interventional cardiac care (featuring the region's only pediatric cardiac catheterization program); surgical services (including the latest advancements in robotic surgery); orthopedics; stroke care (Crouse is a NYS-designated stroke center and the only 'Gold Plus' stroke hospital in Syracuse); oncology; and the region's only hospital-based chemical dependency treatment services. The hospital also operates the Crouse Hospital School of Nursing, providing critical nursing education to more than 280 students annually. Visit www.crouse.org.

About Titan Medical Inc.

Titan Medical Inc. is a Canadian public company (TSX VENTURE:TMD) focused on the development and commercialization of robotic surgical technologies. The Company is currently developing Amadeus™, a next generation 4-armed robotic surgical system, with the objective of enabling surgeons to remotely manipulate surgical instruments. Robotic surgery has developed over the past 10 years into a proven and growing method of treatment. The current global robotic surgical market size is approximately $1 billion and is estimated to grow to $5 billion by 2015 with potential for placement of 6,000 robotic surgical systems. The Company is researching and developing innovative technologies to empower surgeons to use robots in the operating room of the future. For more information, visit the Company's website at www.titanmedicalinc.com.

Forward Looking Statements

This news release contains "forward-looking statements" which reflect the current expectations of management of the Company's future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, those listed in the "Risk Factors" section of the Company's Annual Information Form dated March 31, 2011 (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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