web analytics
15.8 C
Munich
Saturday, July 24, 2021

Titan Medical Inc. (NASDAQ: TMDI) Medtronic’s Enos Run on the Global Surgical Robots Market

Titan Medical Inc. (NASDAQ: TMDI) is on a perfect dip since the stocks $2.04 highs as it continues to see higher highs and higher lows on growing and record breaking volume. Big things are happening at TMDI and Investors are taking notice now that the Company is once again in full compliance with NASDAQ having received written confirmation from NASDAQ earlier this month that the Company has cured the bid price deficiency and has regained full compliance with all applicable criteria for continued listing and trading on The Nasdaq Capital Market.

The big story on TMDI is the  development and license agreement with Medtronic a global powerhouse with over $100 billion in assets looking to break into the robot-assisted surgery space, which remains dominated by Intuitive Surgical (NSDQ:ISRG) and its da Vinci SP. Titan’s Enos™ single port robotic-assisted, minimally invasive surgical system represents a direct competitor to ISRG’s da Vinci surgical system and makes Titan a buyout target for Medtronic who is now completely dependent on TMDI’s intellectual property. Even if Medtronic doesn’t make a move to buy Titan out, these two cutting edge companies are now joined at the hip. Titan locked on to something big here given Medtronic global footprint and resources to move the market respecting this robotics market disrupter, and that means giving Intuitive a run for their money. TMDI is clearly headed in the right direction, its cash reserves have moved from well under a million a year ago to well over $25 million in the treasury today.

Titan Medical Inc. (NASDAQ: TMDI) operating out of Toronto, Ontario is focused on developing robotic assisted technologies for application in single access surgery. We are developing our Enos™ system to become the new standard of care in robotic single access surgery, with dual 3D and 2D high-definition vision systems, multi-articulating instruments, and an ergonomic surgeon workstation. The Company’s goals are to enable better patient outcomes by allowing faster recovery times and less trauma and scarring, and improved clinical performance, operating room efficiency and favorable hospital economics

Certain of Titan’s robotic assisted surgical technologies and related intellectual property have been licensed to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos system. With the Enos system, Titan intends to initially pursue gynecologic surgical indications. Enos™ is a trademark of Titan Medical Inc. Titan Medical owns a valuable intellectual property portfolio including 59 issued patents and 85 applications pending and growing.

Titan entered into a development and license agreement with Medtronic to develop robotic assisted surgical technologies, as well as a separate license agreement with Medtronic in respect of certain intellectual property of Titan. Under the terms of the separate license agreement, Medtronic has licensed certain robotic assisted surgical technologies from Titan for an upfront payment of U.S. $10 million. Medtronic a global powerhouse with over $100 billion in assets and 100,000 employees worldwide.

To Find out the inside Scoop on TMDI Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

TMDI

Titan and Medtronic are taking on Intuitive Surgical, the Company behind the da Vinci surgical system; one of the first robotic-assisted, minimally invasive surgical systems cleared by the FDA. The da Vinci surgical system is used by surgeons in all 50 U.S. states and 67 countries around the world. Currently ISRG has a monopoly on highly lucrative robotic-assisted, minimally invasive surgical systems.

Titan’s Enos™ single port robotic-assisted, minimally invasive surgical system could very well become the new standard of care in robotic single access surgery with dual 3D and 2D high-definition vision systems, multi-articulating instruments, and an ergonomic surgeon workstation.

In October Titan completed the first technical milestone under the development and license agreement with Medtronic and on October 28, the Company received the related $10 million license payment. Titan recently increased its office and lab space for the growing product development team at its subsidiary, Titan Medical USA Inc., in Chapel Hill, North Carolina. Drawing talent from the Research Triangle Park area, the team has grown to 8 technical experts who are focused on advancing the Enos system, including software development and implementation of enhancements to its camera systems, multi-articulated instruments, and patient cart.

On December 9 the Company’s president David McNally made a presentation at the Benzinga Global Small Cap Conference. Benzinga is a financial media company providing syndicated content to 70 partner websites, including Yahoo! Finance MSN, CNNMoney, Fox Business and MarketWatch. Dedicated to making information easier to consume, Benzinga is hosting its inaugural Global Small Cap Conference to help bridge the gap between publicly traded companies, investors, and traders, enabling small-cap companies to network and communicate with a broad and diverse investor base.

On December 24 TMDI reported on December 24, 2020, the Company received written notification from The Nasdaq Stock Market that the Company has cured the bid price deficiency and has regained full compliance with all applicable criteria for continued listing and trading on The Nasdaq Capital Market.

For more on TMDI Subscribe Right Now!

TMDI is on a perfect dip since the stocks $2.04 highs as it continues to see higher highs and higher lows on growing and record breaking volume. Big things are happening at TMDI and Investors are taking notice now that the Company is once again in full compliance with NASDAQ having received written confirmation from NASDAQ earlier this month that the Company has cured the bid price deficiency and has regained full compliance with all applicable criteria for continued listing and trading on The Nasdaq Capital Market. The big story on TMDI is the  development and license agreement with Medtronic a global powerhouse with over $100 billion in assets looking to break into the robot-assisted surgery space, which remains dominated by Intuitive Surgical (NSDQ:ISRG) and its da Vinci SP. Titan’s Enos™ single port robotic-assisted, minimally invasive surgical system represents a direct competitor to ISRG’s da Vinci surgical system and makes Titan a buyout target for Medtronic who is now completely dependent on TMDI’s intellectual property. Even if Medtronic doesn’t make a move to buy Titan out, these two cutting edge companies are now joined at the hip. Titan locked on to something big here given Medtronic global footprint and resources to move the market respecting this robotics market disrupter, and that means giving Intuitive a run for their money. TMDI is clearly headed in the right direction, its cash reserves have moved from well under a million a year ago to well over $25 million in the treasury today. Microcapdaily first covered TMDI in November as it was headed towards $1. We will be updating on TMDI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TMDI.

Sign Up now for our 100% FREE Penny Stock Newsletter

Disclosure: we hold no position in TMDI either long or short and we have not been compensated for this article

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.