05.12.11
Titan Medical Inc., based in Toronto, Canada, has entered a development agreement with Proven Process Medical Devices, Inc., a provider of medical device contract research and development, and manufacturing services.
Under terms of the agreement, Proven Process will develop certain proprietary components of Titan's Amadeus robotic surgical system.
"We are very pleased to be working with Proven Process Medical Devices on our proprietary surgical platform," said Dr. Reiza Rayman, president of Titan Medical. "Their extensive list of clients and advanced technologies, which are currently being used clinically is an affirmation that we have the right partner."
Ken Fine, president of Massachusetts-based Proven Process Medical Devices Inc., said: "Titan Medical is revolutionizing the robotic surgical industry and we are very excited to work with the company's team on finalizing their clinical grade robotic surgical system. We look forward to bringing Titan's concepts to the market and turning their vision into a reality."
Founded in 1994, Proven Process Medical Devices provides design, development, validation and manufacture services of Class II and Class III therapeutic and diagnostic medical devices.
Titan Medical Inc. develops robotic surgical technologies.
The current global robotic surgical market size is approximately $1 billion and is estimated to grow to $5 billion by 2015 with potential for placement of 6,000 robotic surgical systems, according to figures from Titan.
Under terms of the agreement, Proven Process will develop certain proprietary components of Titan's Amadeus robotic surgical system.
"We are very pleased to be working with Proven Process Medical Devices on our proprietary surgical platform," said Dr. Reiza Rayman, president of Titan Medical. "Their extensive list of clients and advanced technologies, which are currently being used clinically is an affirmation that we have the right partner."
Ken Fine, president of Massachusetts-based Proven Process Medical Devices Inc., said: "Titan Medical is revolutionizing the robotic surgical industry and we are very excited to work with the company's team on finalizing their clinical grade robotic surgical system. We look forward to bringing Titan's concepts to the market and turning their vision into a reality."
Founded in 1994, Proven Process Medical Devices provides design, development, validation and manufacture services of Class II and Class III therapeutic and diagnostic medical devices.
Titan Medical Inc. develops robotic surgical technologies.
The current global robotic surgical market size is approximately $1 billion and is estimated to grow to $5 billion by 2015 with potential for placement of 6,000 robotic surgical systems, according to figures from Titan.