Titan Medical Inc. Retains Raymond James & Associates, Inc. for Financial Advisory Services

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TORONTO, ONTARIO -- (Marketwired) -- 07/16/13 -- Titan Medical Inc. ("Titan" or the "Company") (TSX VENTURE:TMD) (OTCQX:TITXF) announced today that it has retained Raymond James & Associates, Inc. ("Raymond James") to provide financial advisory services to the Company in connection with its evaluation of strategic alternatives with a view to enhancing shareholder value. These may include, but are not limited to, strategic relationships, combinations and transactions that would enhance Titan's development and commercialization efforts.

As Titan continues with its development towards commercialization of its SPORT™ (Single Port Orifice Robotic Technology) Surgical System, it is regularly in discussions with significant players in both the health care and medical device fields to consider opportunities that may be appropriate for Titan. Management looks forward to working with Raymond James to expand the breadth and scope of potential strategic alternatives as well as their assistance in evaluating the responses received.

There can be no assurance that this process will result in any specific action or transaction. While undertaking this process, Titan's board and management remain committed to the ongoing development and commercialization of its SPORT™ Surgical System. The Company does not undertake any obligation to update this information but it intends to do so when it deems appropriate.

About Titan Medical Inc.

Titan Medical Inc. is a Canadian public company (TSX VENTURE:TMD) (OTCQX:TITXF) focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's robotic surgical system, currently under development, comprises a surgeon-controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient's body during MIS procedures. The robotic surgical system is being designed to expand robotic surgery into areas of surgical specialties and simple and complex procedures that are currently under-serviced, and to allow surgeons to perform procedures within small to medium size surgical spaces such as general surgery and cholecystectomy. For more information, visit the Company's website at www.titanmedicalinc.com.

Forward Looking Statements

This news release contains "forward-looking statements" which reflect the current expectations of management of the Company's future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, those listed in the "Risk Factors" section of the Company's Annual Information Form dated April 10, 2013 (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Titan Medical Inc.
John Hargrove
Interim Chief Executive Officer
(416) 548-7522 (ext. 151)
John.Hargrove@titanmedicalinc.com
www.titanmedicalinc.com
CPHS Consulting Inc.
Hugh Samson
416-409-6484
hugh.samson@cphs.ca
Beverly Brooks
416-482-8889
brooks.communications@rogers.com

Source: Titan Medical Inc.

Released July 16, 2013