TORONTO–(Enterprise WIRE)–Jan 11, 2022–
Titan Medical Inc. (Nasdaq: TMDI TSX: TMD), a clinical engineering business focused on the design and progress of innovative surgical technologies for robotic single obtain surgical procedures, introduced these days that it has signed a producing and supply agreement with Benchmark Electronics, Inc. (NYSE: BHE) to develop Titan’s ground breaking Enos™ robotic solitary access surgical technique workstations and individual carts. These Benchmark made solutions will be integrated with Titan’s proprietary patented and patent-pending cameras and multi-articulating devices planned to be produced by Titan at its Chapel Hill, North Carolina facility.
This announcement varieties component of Titan’s product or service improvement and regulatory approach for the production of surgeon workstations and patient carts that will be utilised in human scientific tests envisioned to start out in 2023. These reports are expected to help the company’s prepared De Novo software to the Food and drug administration for marketing and advertising clearance. Benchmark was chosen as a manufacturing associate for its deep working experience and vertical integration in elaborate professional medical device engineering, manufacturing and assembly, and its capacity to scale manufacturing with demand from customers. Benchmark will leverage its entire suite of products and services for assembly and tests of Titan’s Enos method, from significant good quality manufacturing and source chain providers, assembly and test tooling advancement, and packaging and fulfillment to empower Titan’s prepared commercialization of its Enos system.
“Titan is fired up to partner with Benchmark, a corporation that has served the medical machine market for additional than 40 years. Their detailed engineering, manufacturing and offer chain capabilities are uniquely suited to structure and make superior-excellent, complex electromechanical clinical systems. Amongst engineering and manufacturing businesses, Benchmark is also differentiated by its experience in the layout and manufacture of visualization units. This possibly adds further benefit to our marriage with main knowledge in a technology that is strategic to our Enos program. Benchmark will develop upon the extensive product advancement perform that has preceded their engagement, and most a short while ago done by our specialist engineering group in Chapel Hill,” explained Paul Cataford, interim president and main executive officer of Titan. “We are self-assured that Benchmark will provide merchandise high quality that is reflective of our place as an innovation chief in robotic solitary accessibility operation.”
As just one of the world’s major suppliers of engineering, design and style, and manufacturing expert services, Benchmark generates professional medical products and solutions for some of the most highly regarded makes which embody complicated electromechanical units and sensing technologies, like magnetic resonance imaging models, computed tomography systems, strength shipping and delivery gadgets for surgical procedures, handhelds and linked healthcare gadgets.
“Benchmark shares Titan Medical’s passion for innovation and its drive to increase individual results employing new progressive professional medical gadget know-how,” stated Jeff Benck, president and chief government officer of Benchmark. “The Enos procedure showcases our determination to starting to be a dependable husband or wife to progressive, market place-major businesses by leveraging our competencies in electronics engineering, production, take a look at, complicated electromechanical assembly and facilitating advanced techniques integration.”
About Titan Health-related
Titan Professional medical Inc. (Nasdaq: TMDI TSX: TMD), a medical technologies business headquartered in Toronto, Ontario and with R&D amenities in Chapel Hill, North Carolina, is focused on improving robotic assisted surgery applying revolutionary systems. The Enos™ robotic solitary entry surgical procedure is being formulated with an ergonomic emphasis to deliver a surgical working experience that imitates actual-existence actions that surgeons demand and involves multi-articulating instruments created to let surgeons an greater selection of motion in a confined room, with dexterity and the potential to exert the forces important to finish prevalent surgical responsibilities. With the Enos system, Titan intends to initially pursue gynecologic surgical indications. Sure of Titan’s robotic assisted surgical technologies and similar intellectual residence have been licensed to Medtronic plc, while retaining earth-huge rights to commercialize the systems for use with the Enos procedure.
Enos™ is a trademark of Titan Health-related Inc.
For more details, visit www.titanmedicalinc.com.
Benchmark provides complete answers throughout the full product life cycle top through its impressive technological innovation and engineering structure providers leveraging its optimized international supply chain and offering globe-class producing products and services in the adhering to industries: commercial aerospace, protection, innovative computing, following technology telecommunications, sophisticated industrials, health care, and semiconductor cash devices. Benchmark’s worldwide functions involve services in 7 nations and its popular shares trade on the New York Inventory Exchange under the symbol BHE.
Titan Clinical Forward-Looking Statements
This news release has “forward-looking statements” inside of the indicating of applicable Canadian and U.S. securities legislation. These types of statements replicate the existing expectations of administration of the company’s upcoming growth, effects of functions, general performance and company prospective clients and opportunities. Forward-hunting statements are frequently, but not often, recognized by terms these types of as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “potential for” and related expressions, while these words and phrases may perhaps not be current in all forward-seeking statements. Ahead-wanting statements that surface in this launch may consist of, with no limitation, references to: the company’s concentrate on the style and improvement of surgical technologies for robotic one accessibility surgical procedures the integration of Benchmark’s producing solutions with Titan’s cameras and multi-articulating devices the prepared producing by Titan of cameras and devices, and the commercialization of the Enos system the company’s designs for human experiments and De Novo software with the Food and drug administration for marketing clearance the probable of including value to the Enos method by way of the romantic relationship with Benchmark and Benchmark’s experience in visualization units the company’s intention to in the beginning pursue gynecologic surgical indications with the Enos method and the license of certain of Titan’s robotic assisted surgical systems and relevant intellectual assets to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos procedure. These statements replicate management’s recent beliefs with regard to future functions and are centered on info now offered to management. Ahead-wanting statements require important challenges, uncertainties and assumptions. A lot of factors could lead to the company’s real final results, performance or achievements to be materially distinctive from any long term success, overall performance or achievements that may perhaps be expressed or implied by these ahead-on the lookout statements, together with, without limitation, all those outlined in the “Risk Factors” area of the company’s Annual Details Variety and Kind 40-F for the fiscal calendar year finished December 31, 2020, as effectively as the assumptions discussed below the section titled “Development Plan” of the company’s Management’s Dialogue & Evaluation (MD&A) for the fiscal period ended September 30, 2021 (which may be seen at www.sedar.com and at www.sec.gov ). Should really one or more of these dangers or uncertainties materialize, or need to assumptions underlying the forward-on the lookout statements confirm incorrect, precise benefits, performance, or achievements may differ materially from all those expressed or implied by the forward-seeking statements contained in this news launch. These variables need to be regarded as diligently, and possible investors ought to not area undue reliance on the ahead-looking statements. Whilst the forward-wanting statements contained in the news launch are dependent on what management presently believes to be fair assumptions, the organization cannot guarantee possible traders that actual outcomes, overall performance or achievements will be constant with these forward-searching statements. Apart from as expected by legislation, the organization expressly disclaims any intention or obligation to update or revise any forward-looking statements irrespective of whether as a final result of new information, long term occasions or normally.
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PUB: 01/11/2022 07:30 AM/DISC: 01/11/2022 07:32 AM