The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Humanoids
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Business
    • Financial
      • Investments
      • Mergers & Acquisitions
      • Earnings
    • Markets
      • Agriculture
      • Healthcare
      • Logistics
      • Manufacturing
      • Mining
      • Security
    • RBR50
      • RBR50 Winners 2025
      • RBR50 Winners 2024
      • RBR50 Winners 2023
      • RBR50 Winners 2022
      • RBR50 Winners 2021
  • Resources
    • Automated Warehouse Research Reports
    • Digital Issues
    • eBooks
    • Publications
      • Automated Warehouse
      • Collaborative Robotics Trends
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
  • Advertise
  • Subscribe

Titan Medical to begin strategic review, may explore sale

By Sean Whooley | November 30, 2022

titan medical

Titan Medical’s Enos single-acces robotic-assisted surgery system. | Source: Titan Medical

Titan Medical (Nasdaq:TMDI) announced today that it plans to review and evaluate strategic alternatives to unlock shareholder value.

Toronto-based Titan develops single-access robotic-assisted surgery technology. It consulted with financial and legal advisors to determine that the review is in the company’s and stakeholders’ best interest.

According to a news release, Titan’s board plans to consider a full range of strategic alternatives. That may include a corporate sale, merger or other business combination. It could also lead to a sale of all or a portion of its assets, strategic investment or other significant transaction.

Titan Medical earlier this month announced a plan to hold a virtual shareholder meeting on Jan. 12, 2023. The goal is to seek approval for a share consolidation plan to maintain the company’s Nasdaq listing.

As part of the strategic review, Titan engaged Raymond James as a financial advisor. Raymond James’ role includes advising the company in the review and analyzing strategic alternatives.

No guarantees out of the review

Titan did not set a timetable for the completion of this process. The company said it does not intend to provide updates on developments until it executes a definitive agreement. An exception could come should the board determine that an update is appropriate or required.

The company intends to evaluate all options fairly to maximize shareholder value. However, it said it couldn’t assure that the process will result in any transaction. In addition, should the company undertake a transaction, it has no guarantees regarding its terms or timing.

“Our management team is completely aligned with the board’s decision to explore options to maximize shareholder value,” said Titan President and CEO Cary Vance. “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.”

Could prior relationships come into play?

Titan has a longstanding relationship with medtech giant Medtronic, including a range of purchase orders, milestone payments and more. That relationship could be worth keeping an eye on as Titan’s review process plays out.

In September, Titan and Medtronic entered into a development deal on surgical robots. The agreement built on a 2020 development and license deal. Titan achieved all three milestones in the agreement, including raising $18 million in capital in October 2020. In May, Titan signed a $2.6 million purchase order from Medtronic to provide instruments and cameras for preclinical activities.

“Medtronic’s interest has been in Titan’s ability to innovate,” Vance told MassDevice in October. “That was the genesis of the arrangement we had about two-and-a-half years ago when we were asked to develop some technology for them.”

Editor’s Note: This article first appeared on sister website MassDevice and was republished with permission.

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

The humanoid robot market is about to experience a boom, with projections indicating a substantial and sustained increase over the next decade, says Freudenberg.
Humanoid robots can benefit from high-performance seals, says Freudenberg
Two Standard Bot robot arms in a white room.
Standard Bots launches 30kg robot arm and U.S. production facility
Headshot of Giovanni Campanella and podcast logo.
Safety and efficiency in robotics design
An image of ABB's Flexly P604 Visual Slam AMR.
ABB upgrades Flexley Mover AMR with visual SLAM capabilities

RBR50 Innovation Awards

“rr
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest info on technologies, tools and strategies for Robotics Professionals.
The Robot Report Listing Database

Latest Episode of The Robot Report Podcast

Automated Warehouse Research Reports

Sponsored Content

  • Sager Electronics and its partners, logos shown here, will exhibit at the 2025 Robotics Summit & Expo. Sager Electronics to exhibit at the Robotics Summit & Expo
  • The Shift in Robotics: How Visual Perception is Separating Winners from the Pack
  • An AutoStore automated storage and retrieval grid. Webinar to provide automated storage and retrieval adoption advice
  • Smaller, tougher devices for evolving demands
  • Modular motors and gearboxes make product development simple
The Robot Report
  • Mobile Robot Guide
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Humanoids
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Business
    • Financial
      • Investments
      • Mergers & Acquisitions
      • Earnings
    • Markets
      • Agriculture
      • Healthcare
      • Logistics
      • Manufacturing
      • Mining
      • Security
    • RBR50
      • RBR50 Winners 2025
      • RBR50 Winners 2024
      • RBR50 Winners 2023
      • RBR50 Winners 2022
      • RBR50 Winners 2021
  • Resources
    • Automated Warehouse Research Reports
    • Digital Issues
    • eBooks
    • Publications
      • Automated Warehouse
      • Collaborative Robotics Trends
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
  • Advertise
  • Subscribe