Titan Medical Ends Negotiations With Longtai Medical for Sport Distribution in Asia Pacific

TORONTO, ON--(Marketwired - April 28, 2017) - Titan Medical Inc. (TSX: TMD) (OTCQX: TITXF) (Titan), a medical device company focused on the design, development and commercialization of a robotic surgical system for application in minimally invasive surgery (MIS), announces it has terminated its negotiations with Longtai Medical, Inc. (Longtai), a Canadian subsidiary of Ningbo Long Hengtai International Trade Co. Ltd., for distribution of the SPORT single port surgical system in the Asia Pacific region. Titan has determined to focus on execution for initial commercialization in the United States and the European Union, and will return a $2 million deposit to Longtai.

David McNally, Chief Executive Officer of Titan Medical, said, "We are focused on our largest target markets in the United States and Europe. It is worth noting that lengthy discussions with Longtai began in October 2015 and included a good faith $2 million deposit and two term extensions, but with initial priority the United States and Europe, other partnering opportunities and our commitment to focus the contemplated distribution agreement is not in the best interests of Titan. We part ways with Longtai amicably and look forward to reporting on additional milestone progress in the near-term."

About Titan Medical Inc.

Titan Medical Inc. is focused on the design and development through the planned commercialization of a robotic surgical system for use in MIS. The Company's SPORT Surgical System, currently under development, includes a surgeon-controlled robotic platform that features multi-articulating instruments for performing MIS procedures through a single incision. The surgical system also includes a workstation that provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and provides a 3D high-definition endoscopic view inside a patient's body. The SPORT Surgical System is designed to enable surgeons to perform a broad set of general abdominal, gynecologic and urologic procedures. For more information, visit the Company's website at www.titanmedicalinc.com.

Forward-Looking Statements

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