Sam Brusco, Associate Editor12.02.22
Single access robotic-assisted surgery (RAS) company Titan Medical began a review and evaluation of strategic alternatives available to the company to unlock shareholder value.
The company said the Board will consider strategic alternatives including corporate sale, merger or business combination, a sale of all or a portion of assets, strategic investment, or another significant transaction.
Cary G. Vance, Titan’s President and CEO, told the press, “Our management team is completely aligned with the Board's decision to explore options to maximize shareholder value. We believe it is prudent to undertake a review of our strategic options to determine the best path forward to realize the value of our innovations in single-access robotic-assisted technologies to maximize shareholder value. Our Board and management team remain committed to our strategy of providing patients, surgeons and hospitals with an innovative improved surgical experience."
Titan Medical hasn’t yet set a timetable for completing the process and doesn’t intend to provide updates on developments until a definitive agreement is executed, or if the Board determines an update is appropriate or needed.
The company advised that there can be no assurance the strategic review process will result in any transaction, or if one is undertaken, as to its terms or timing.
Titan’s Enos single-access RAS system is being developed to provide a surgical experience that imitates real-life movements that surgeons demand. It includes multi-articulating instruments designed to allow surgeons increased range of motion in a confined space, with dexterity and the ability to exert forces necessary to complete common surgical tasks. Titan intends to initially pursue gynecological surgical indications with Enos.
The company said the Board will consider strategic alternatives including corporate sale, merger or business combination, a sale of all or a portion of assets, strategic investment, or another significant transaction.
Cary G. Vance, Titan’s President and CEO, told the press, “Our management team is completely aligned with the Board's decision to explore options to maximize shareholder value. We believe it is prudent to undertake a review of our strategic options to determine the best path forward to realize the value of our innovations in single-access robotic-assisted technologies to maximize shareholder value. Our Board and management team remain committed to our strategy of providing patients, surgeons and hospitals with an innovative improved surgical experience."
Titan Medical hasn’t yet set a timetable for completing the process and doesn’t intend to provide updates on developments until a definitive agreement is executed, or if the Board determines an update is appropriate or needed.
The company advised that there can be no assurance the strategic review process will result in any transaction, or if one is undertaken, as to its terms or timing.
Titan’s Enos single-access RAS system is being developed to provide a surgical experience that imitates real-life movements that surgeons demand. It includes multi-articulating instruments designed to allow surgeons increased range of motion in a confined space, with dexterity and the ability to exert forces necessary to complete common surgical tasks. Titan intends to initially pursue gynecological surgical indications with Enos.