TORONTO, ON--(Marketwired - August 29, 2016) - Titan Medical Inc. (TSX: TMD) (OTCQX: TITXF), a medical device company focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"), today announced that Dr. Dennis Fowler will resign from Titan effective August 31, 2016. Dr. Fowler has been with Titan since March 2014, most recently as Executive Vice President of Clinical and Regulatory Affairs. James Shore, Director of Quality, and Christopher Seibert, Vice President of Corporate Accounts, will be assuming Dr. Fowler's responsibilities on an interim basis while a search is initiated. Mr. Shore, in addition to his responsibilities in quality will assume responsibility for regulatory matters. Mr. Seibert, in addition to his responsibility for corporate accounts, will take on the role of Project Manager for the development of Titan's robotic surgical system. Both James and Christopher possess industry related experience relevant to their new areas of responsibility. Dr. Fowler is willing to be available to Titan as a consultant.
"I have enjoyed leading the development of the SPORT Surgical System and believe that it has significant potential for both clinical and economic success," said Dr. Fowler.
"On behalf of the Board of Directors and entire Titan team, I'd like to thank Dr. Fowler for his contributions to the development of the SPORT™ Surgical System and wish him the best in his future endeavors," said John Hargrove, Chief Executive Officer.
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 MIS. The Company's SPORT™ Surgical System, currently under development, includes a surgeon-controlled robotic platform that incorporates a 3D high-definition vision system and multi-articulating instruments for performing MIS procedures through a single incision. The surgical system also includes a surgeon workstation that provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and provides a 3D high-definition endoscopic view of inside a patient's body. The SPORT™ Surgical System is designed to enable surgeons to perform a broad set of surgical procedures for general abdominal, gynecologic, and urologic indications. For more information, visit the Company's website at www.titanmedicalinc.com.
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 30, 2016 (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.