|By Marketwired .||
|May 20, 2014 07:30 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/20/14 -- Titan Medical Inc. ("Titan" or the "Company") (TSX VENTURE:TMD)(OTCQX:TITXF) is pleased to provide an update on the ongoing progress of the Single Port Orifice Robotic Technology (SPORT(TM)) Surgical System. Today, the Company is releasing a video clip demonstrating electrocautery, tissue suturing and instrument swaps. The video may be viewed at www.titanmedicalinc.com.
"This video depicts a significant advancement of our SPORT(TM) Surgical System," said John Hargrove, Chairman and CEO. "SPORT(TM) now has instrumentation that can deliver electrocautery. Additionally, the system and instrumentation are capable of tissue suturing, considered to be one of the most complex maneuvers performed in any minimally invasive procedure. We are very proud of these accomplishments and remain committed to our development timeline."
SPORT(TM) Surgical System testing and development is continuing and remains on schedule. The video and related information will be presented at Titan Medical's Annual General Meeting on May 21, 2014 at 2 PM EST.
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company (TSX VENTURE:TMD)(OTCQX:TITXF) focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's robotic surgical system, currently under development, comprises 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 robotic surgical system is being designed to expand robotic surgery into areas of surgical specialties and simple and complex procedures that are currently under-serviced, and to allow surgeons to perform procedures within small to medium size surgical spaces such as general surgery and cholecystectomy. 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 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.
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.