Titan Medical Inc.

Titan Medical Inc.

May 03, 2011 08:00 ET

Titan Medical Inc. Announces Testing Results for Beta Console Early User Study

TORONTO, ONTARIO--(Marketwire - May 3, 2011) - Titan Medical Inc. (the "Company") (TSX VENTURE:TMD) announced today testing results for its Beta Console early user study. Key opinion leaders in urology and cardiac surgery participated in the initial study and provided their feedback.

The Beta Console prototype was tested through task-based simulations and bench models that cover common robotic surgical maneuvers, such as clutch and camera movement for the surgeon to explore the functionality of the console. During the study, the Beta Console sub-systems, including the console workspace, graphical user interface (GUI), 3-D HD vision system, hand-grips, intelligent arm rest, camera, endoscope and haptics feedback, were reviewed as well.

John R. Valvo, M.D., F.A.C.S., Director of Robotics, Division Head of Urology at Rochester General Hospital, commented, "It was with great anticipation I recently beta tested Titan's new robotic operative console. It did not disappoint. Using suggestions from surgeons in the field, the engineers from Titan have listened and have done a remarkable job as an initial offering. Robotic surgery is really about information. This console allows the surgeon to be totally immersed in the most critical data to successfully navigate the operative experience more precisely and safely. I'm sure further modifications will build on what promises to be an outstanding look into the future."

Hiep Nguyen, M.D., Associate Professor in Surgery (Urology) at Harvard Medical School and the Director of Robotic Surgery, Research and Training Center at Children's Hospital Boston, added, "If the prototype is any indication of the final product, we will finally have a surgical robotic system that is adaptive to the needs of the surgeon rather than being limited by technology. The Titan robotic system addresses many of the limitations of current robotic systems and, in addition, provides novel technology such as haptic feedback. The design of the Titan robotic system truly has the surgeon and the patient in mind. The Titan robotic system will allow more surgeons to utilize robotic surgery and, thus, will allow more patients to receive the benefits of minimally invasive surgery."

"Receiving such positive feedback from Drs. Valvo and Nguyen is a clear testament to our commitment and ability to bringing surgery to a completely new level," said Craig Leon, Chief Executive Officer of Titan Medical Inc. "We look forward to hearing from many other surgeons and building upon their valuable opinions to bring Amadeus to a new level of its development process."

Amadeus(TM) Robotic Surgical System is the Company's next generation 4-armed robotic surgical platform. The surgical console is a new design, force feedback and enhanced vision system, enabling unprecedented ease of instrument control and system functions. Other elements that make up the Amadeus(TM) Robotic Surgical System include multi articulating arms, communications, simulation systems and advanced instrumentation.

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(TM), 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 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" 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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