Titan Medical Inc. Announces Telesurgery Collaboration With Bell Canada
World Leader in Telesurgery Validates and Advances Development of Next Generation Robotic Surgery Platform
TORONTO, ONTARIO -- (MARKET WIRE) -- 11/19/08 -- Titan Medical Inc. ("the Company") (TSX VENTURE: TMD) is pleased to announce that it has entered into a definitive agreement with Bell Canada's (TSX: BCE) Health unit to develop, integrate and service telesurgery capabilities for Amadeus®, a next generation robotic surgical system currently being developed to revolutionize keyhole robotic minimally invasive surgery. In February 2003, Bell was a major sponsor for the world's first hospital-to-hospital telerobotic surgery performed between North Bay and Hamilton.
Under the terms of the agreement, Bell Canada will make its industry-leading IP-VPN bandwidth available to the Company and Bell will be responsible for maintaining high level network performance and reliability necessary for real-time remote manipulation of Amadeus®. In addition, Bell will assist in the design, development and management of all aspects of telesurgery capabilities of Amadeus® including the integration of all connectivity software, cabling, end-to-end network management and engineering expertise.
Dr. Reiza Rayman, President of Titan Medical Inc., commented as follows:
"We are delighted to have Bell Canada as our partner for telesurgery. Bell is a world leader in telesurgery and their networking expertise and ongoing commitment in the research, development and deployment of telesurgery makes them the ideal partner in our quest to revolutionize robotic surgery. More notably, our collaboration with Bell validates the potential of Amadeus® and its innovative offerings it will bring to an operating room in the near future."
About Telesurgery: Telesurgery is the ability for a surgeon to perform surgery on a patient from a different location. Telesurgery is a combination of advanced elements of robotics, communication technologies and management information systems. Currently in the field of robotic surgery, most of robots are controlled by surgeons at the location of the surgery.
Telesurgery, on the other hand, offers the promise for patients to have access to surgeons from around the world, without the need for patients to travel beyond their local hospital for surgery.
About Bell Canada.
Bell is Canada's largest communications company, providing consumers with solutions to all their communications needs, including telephone services, wireless communications, high-speed Internet, digital television and voice over IP. Bell also offers integrated information and communications technology (ICT) services to businesses and governments, and is the Virtual Chief Information Officer (VCIO) to small and medium businesses (SMBs). Bell delivers healthcare solutions to the Canadian Healthcare market through the Bell Health, Centre for Healthcare Innovation. Bell is proud to be a Premier National Partner and the exclusive Telecommunications Partner to the Vancouver 2010 Olympic and Paralympic Winter Games. Bell is wholly owned by BCE Inc. For information on Bell's products and services, please visit www.bell.ca. For corporate information on BCE, please visit www.bce.ca.
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 global robotic surgical market size is currently estimated to be $3.4 billion 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" 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 Filing Statement dated July 8, 2008 (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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Titan Medical Inc. Craig Leon Chief Executive Officer (416) 548-7522 (ext. 151) (416) 368-1608 (FAX) Email: cleon@titanmedicalinc.com Website: www.titanmedicalinc.com
Released November 19, 2008