SOURCE: Titan Medical Inc.

Titan Medical Inc.

March 17, 2015 17:07 ET

Titan Medical Inc. Completes the Next Major Milestone in the Development of the SPORT™ Surgical System -- The Design and Test of a Feasibility Prototype

TORONTO, ON--(Marketwired - March 17, 2015) - Titan Medical Inc. ("Titan" or the "Company") (TSX: TMD) (OTCQX: TITXF) today announced that it has completed the next major milestone in the development of the SPORT™ Surgical System -- the design and test of a feasibility prototype. It demonstrates feasibility to build a next generation workstation and advanced instruments, and it enables expanded use of the SPORT Surgical System.

Dennis Fowler, Executive Vice President, Clinical and Regulatory Affairs of Titan Medical Inc., commented, "We are very pleased to complete this important milestone as planned. The SPORT Surgical System will provide highly dexterous instruments on a smaller, affordable and mobile platform that includes 3D high definition imaging and an ergonomic workstation with customized master controllers and hand pieces. We believe that the SPORT Surgical System will be used for a broad array of abdominal surgery indications including general surgery, gynecologic, and urologic procedures."

"The features of the SPORT Surgical System have been validated by 'voice of customer' input. We are very pleased that the SPORT Surgical System, as designed, will enable the customer to achieve a very significant return on investment clinically, financially, and operationally," said John Hargrove, Chairman and Chief Executive Officer of Titan Medical Inc. "I want to congratulate our entire team on this significant accomplishment, and I look forward to working with them and making further progress in the development of our technology."

About Titan Medical Inc.

Titan Medical Inc. is a Canadian public company focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's Single Port Orifice Robotic Technology, SPORT™ Surgical System, currently under development, is comprised of a surgeon-controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient's body during MIS procedures. The SPORT™ Surgical System is being designed to expand robotic surgery into both simple and complex areas of surgical specialties and procedures that are currently under-serviced. It is also being designed to allow surgeons to perform procedures within small- to medium-size surgical spaces for general abdominal, gynecologic, and urologic indications. 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 April 4, 2014 (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.

Contact Information