Titan Medical Inc. (TMDI) Announces $2.6M Purchase Order from Medtronic (MDT)

Titan Medical Inc. (Nasdaq: TMDI), a medical device company focused on the development and commercialization of innovative surgical technologies for single access robotic-assisted surgery (RAS), today announced receipt of a $2.6 million purchase order from Medtronic plc (NYSE: MDT), a global leader in healthcare technology.

The order covers the purchase of instruments and cameras that will be used in preclinical activities and the evaluation of Titan Medical as a potential manufacturing and supply partner for Medtronic.

“Medtronic has been a great partner for Titan since 2020 and we’re excited about this opportunity to further our work together,” said Paul Cataford, Interim President and CEO of Titan. “Our manufacturing team and capabilities continue to expand at our operations in Chapel Hill. With this order, we will produce instruments and cameras for Medtronic’s evaluation and testing in addition to producing instruments and cameras for our own single-access RAS platform, Enos.”

For clarity, these agreements are between Medtronic and Titan Medical Inc. Titan Medical is not affiliated with Titan Spine, which Medtronic acquired in 2019.

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