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Titan Medical Announces Start of Strategic Review Process, Canadian Business Journal

TORONTO, Nov. 30, 2022 (GLOBE NEWSWIRE) — Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD) (“Titan” or the “Company”) announced today that Single Access Robotic Assisted Surgery (RAS) has been appointed to the Board of Directors (or “Board of Directors”) has determined that it is in the best interests of the Company and its stakeholders to review and evaluate strategic alternatives, in consultation with financial and legal counsel and shareholders. What we may be able to use to unlock value. As part of the process, the Board considers all strategic options, including corporate divestitures, mergers or other business combinations, sale of all or part of company assets, strategic investments, or other significant transactions. .

As part of our strategic review process, we engaged Raymond James as our financial advisor to advise us in connection with our extensive and comprehensive review and analysis of our strategic options.

Cary G. Vance, President and CEO of Titan, commented: To maximize shareholder value, we believe it is prudent to conduct a strategic option review to determine the best path to realizing the value of innovation in single-access robot-assisted technology. Our Board and management remain committed to our strategy of delivering innovative and improved surgical experiences to patients, surgeons and hospitals. ”

We have not set a timetable for process completion and will provide updates on developments until we have finalized agreement on the process or unless the Board deems an update appropriate or necessary I don’t mean to.

While we intend to fairly evaluate all options to maximize shareholder value, there is no guarantee that our strategic review process will result in any transaction.

About Titan Medical

Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD) is a medical device company headquartered in Toronto, Ontario with operations in Chapel Hill, North Carolina that uses innovative single-access, robotic-assisted technology to We are focusing on strengthening surgery (RAS). point. The Enos™ Single-Access RAS System has been developed with a focus on ergonomics to provide a surgical experience that mimics the real-world movements demanded by surgeons. The Enos system includes articulated instruments designed to help surgeons increase range of motion in confined spaces and develop the dexterity and force needed to complete common surgical tasks. Titan initially plans to pursue gynecological surgical indications with the Enos system.

Enos™ is a trademark of Titan Medical Inc.

For more information, see: www.titanmedicalinc.com and follow @Titan Medical Twitter or LinkedIn.

Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable Canadian and US securities laws. It reflects management’s current expectations of the company’s future growth, operating results, performance and business prospects and opportunities. Forward-looking statements are, but not always, “may,” “could,” “may,” “will,” “expect,” “believe,” , “expects”, “intends”, etc. ”, “presumed”, “probable” and similar expressions. However, these words do not constitute all forward-looking statements. Forward-looking statements in this release may include, but are not limited to, references to the following: The company focuses on single-access, robotic-assisted surgery. The Enos system provides a surgical experience that mimics real-life motion. The Enos platform is designed to promote faster recovery, shorter hospital stays, lower risk of infection, fewer scars and less post-operative pain. Titan’s mission to improve outcomes for patients, hospitals and surgeons. And initially he said the company’s intention to pursue gynecological surgical indications with the Enos system.

These forward-looking statements reflect management’s current views regarding future events and are based on information currently available to management. These information were believed to be reasonable by management at the time the statements were made, but are subject to material business, economics and circumstances. competitive uncertainties and contingencies that could cause actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements; Forward-looking statements involve significant risks, uncertainties and assumptions and many factors cause the Company’s actual results, performance or achievements to be either expressed or implied by forward-looking statements. Future results, performance or achievements may differ materially. Such factors and assumptions include, but are not limited to, our ability to retain key personnel. Ability to execute business plans and strategies. The adequacy of working capital to continue to fund the business during the strategic review process and the risk factors described in the Company’s Annual Report for the fiscal year ended December 31, 2021. other factors (at www.sedar.com and www.sec.gov). If one or more of these risks or uncertainties materializes or the assumptions underlying the forward-looking statements prove incorrect, the actual results, performance or achievements of this news release may differ. may differ materially from those expressed or implied by the forward-looking statements contained herein. These factors should be considered carefully and prospective investors should not place undue reliance on forward-looking statements.

Forward-looking statements contained in news releases are based on what management currently believes to be reasonable assumptions, and the company does not believe that actual actions, events, circumstances, results, performance or achievements may actually be true. Although we have attempted to identify important factors that could cause the actual results, performance or achievements described in the forward-looking statements to differ materially from those described in these forward-looking statements. We cannot guarantee to prospective investors that it will match. Except as required by law, we expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A home should not place undue reliance on forward-looking statements. All forward-looking statements are expressly qualified by the foregoing cautionary statement.

contact
Kristen Galfetti
Vice President of Investor Relations
& Corporate Communications
+1-781-869-2553
[email protected]

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Titan Medical Announces Start of Strategic Review Process, Canadian Business Journal

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