Titan Medical Inc. Announces Appointment of John E. Barker as Strategic Advisor
Seasoned Financial Executive with Track Record of Building and Managing World-Class Companies
TORONTO, ONTARIO -- (MARKET WIRE) -- 11/06/08 -- Titan Medical Inc. ("the Company") (TSX VENTURE: TMD) is pleased to announce that it has entered into a consulting agreement with Mr. John E. Barker as a strategic advisor for the Company. As former Senior Vice President of Finance and Chief Financial Officer of Zenon Environmental Inc., having had sales exceeding $230 million and 1,480 employees, Mr. Barker was responsible for managing the finance and information technology of over 35 subsidiary companies in 25 different countries. Most notably, he led teams that raised over $140 million between 2002 and 2004, and managed to assist the sale of Zenon Environmental Inc. to General Electric Company for a 50% premium over the share price.
In his role, Mr. Barker's will provide strategic guidance, participate in the Company's fundraising efforts, represent the Company in discussions with potential investors, and provide counsel as required to promote the growth of the Company. In addition, the Company expects to add Mr. Barker as a nominee of management for election as a director at the next Annual Meeting.
"We are very pleased to have John Barker join the Company as a strategic advisor to the executive team. Mr. Barker brings invaluable management and board experience acquired at a major Canadian public company. He will play a key role in our financial and corporate development as we near our development of our next generation robotic surgical platform" said Craig Leon, Chief Executive Officer of Titan Medical Inc.
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 6, 2008