Titan Medical Inc.
TSX VENTURE : TMD

Titan Medical Inc.

October 05, 2011 08:00 ET

Titan Medical Inc. Announces Memorandum of Understanding With Children's Hospital Boston

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2011) - Titan Medical Inc. ("the Company") (TSX VENTURE:TMD) announced today that it has signed a non-binding memorandum of understanding (MOU) with Children's Hospital Boston.

Under the terms of the agreement, Children's Hospital Boston will test and evaluate the Company's Amadeus Composer™. Children's Hospital Boston will provide the Company with detailed feedback as appropriate.

Dr. Reiza Rayman, President of Titan Medical Inc., commented, "We are extremely pleased to work with Children's Hospital Boston, a recognized leader in pediatric care in the U.S. This effort will validate and expand the use of our Next Generation Surgical Robotic Platform into clinical trials."

Dr. Nguyen, the Director of the Robotic Surgery, Research and Training Center, commented, "Children's Hospital Boston strives to be the leader in providing the safest and most effective care for children. Robotic technology is integral to our ability to offer innovations that improve pediatric surgical care at our institution. We are very excited to be able to participate in the evaluation of the Titan Next Generation Surgical Robotic Platform."

About Children's Hospital Boston

Founded in 1869 as a 20-bed hospital for children, Children's Hospital Boston has been ranked as one of the nation's best pediatric hospitals by U.S. News & World Report for the past 21 years. Children's is the primary pediatric teaching hospital of Harvard Medical School and the largest provider of health care to Massachusetts children. In addition to 395 pediatric and adolescent inpatient beds and 228 outpatient programs, Children's houses the world's largest research enterprise based at a pediatric medical center, where its discoveries benefit both children and adults. More than 1,100 scientists, including nine members of the National Academy of Sciences, 11 members of the Institute of Medicine and nine members of the Howard Hughes Medical Institute comprise Children's research community. For more information about the hospital visit: www.childrenshospital.org/newsroom.

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 Composer™, a surgical system that has a uniquely designed external robot and flexible instruments, and allows surgeons to overcome constraints of surgical procedures in small to medium spaces. Amadeus Maestro™, the Company's next generation 4-armed robotic surgical system with advanced communication and training, utilizes the Titan True Touch Technology and is targeted to surgical procedures in large spaces. Robotic surgery has developed over the past 10 years into a proven and growing method of treatment. The global robotic surgical market size is currently estimated to be 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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