Titan Medical Inc. Signs Service Agreement with SenseGraphics AB
TORONTO, ONTARIO -- (MARKET WIRE) -- 04/13/11 -- Titan Medical Inc. ("the Company") (TSX VENTURE: TMD) announced today that it has signed a service agreement with SenseGraphics AB, a leader in 3D and haptic software simulation.
Under terms of the agreement, SenseGraphics AB will develop novel and customized simulation software that will be integrated with the Company's next generation robotic surgical system, Amadeus™. Additionally, SenseGraphics will provide for Titan Medical a unique simulation program that will allow a real time 3D task and anatomy based simulation training program.
Dr. Reiza Rayman, President of Titan Medical Inc., commented, "We are delighted to be working with SenseGraphics, a leader in the simulation software industry, on the development of our novel simulation training program that will be a focal point for our next generation robotic surgery system."
Tommy Forsell, CEO of SenseGraphics, said, "We are excited to be selected by Titan Medical for the development of simulation software for its cutting edge robotic surgery system."
About SenseGraphics AB
SenseGraphics represents over twenty years of experience in the haptics (force feedback) and graphics industry. SenseGraphics' development platform H3D, offers the complete set of technologies needed to initiate 3D and/or haptics application development. SenseGraphics H3D-platform and its services are already used by many companies like MOOG (dental simulation), Curictus (stroke rehabilitation) and MedaPhor (ultrasound training simulation). For more information visit the SenseGraphics web site at www.sensegraphics.com and its "Hall of Fame."
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company (TSX VENTURE: TMD) focused on the development and commercialization of robotic surgical technologies. The Company is currently developing Amadeus™, a next generation 4-armed robotic surgical system, with the objective of enabling surgeons to remotely manipulate surgical instruments. Robotic surgery has developed over the past 10 years into a proven and growing method of treatment. 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. The Company is researching and developing innovative technologies to empower surgeons to use robots in the operating room of the future. 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 March 31, 2011 (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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Titan Medical Inc. Craig Leon Chief Executive Officer (416) 548-7522 (ext. 151) cleon@titanmedicalinc.com www.titanmedicalinc.com ICR, LLC Sherry Bertner Managing Director (646) 277-1247 Sherry.Bertner@icrinc.com
Source: Titan Medical Inc.
Released April 13, 2011