TORONTO, ONTARIO, Oct. 7, 2010 (Marketwire) -- Titan Medical Inc. (the "Company") (TSX VENTURE:TMD) is pleased to announce that it has engaged Gleacher & Company Securities, Inc. to act as Titan's exclusive financial advisor, lead manager and/or placement agent in connection with a potential financing of Titan by way of an offering of Titan's securities.
The terms of the financing have not been determined.
Craig Leon, Chairman and CEO of Titan Medical, commented, "It is gratifying that a well-regarded investment bank like Gleacher & Company, with its strong healthcare division, has shown confidence in our business. This agreement puts our company in a stronger position to continue to pursue development and commercialization of Amadeus, and to build value for our shareholders."
About Gleacher & Company Securities, Inc.
Gleacher & Company Securities, Inc. is a broker-dealer subsidiary of Gleacher & Company, Inc. Gleacher & Company, Inc. (NASDAQ:GLCH) is an independent, full service investment bank that provides corporate and institutional clients with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization, and strategic alternative analysis, as well as securities brokerage services. For more information, please visit http://www.gleacher.com.
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 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" 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 9, 2010 (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.
Chief Executive Officer
(416) 548-7522 (ext. 151)