Brief: Titan Medical Provides Corporate Update

Conavi Medical

08/02/2023 14:43

Feb 8 (Reuters) - Titan Medical Inc  TMD.TO :
    * TITAN MEDICAL PROVIDES CORPORATE UPDATE
    * TITAN MEDICAL INC - DETERMINED TO PRIORITIZE SALE OF ALL
OR A
PORTION OF COMPANY'S ASSETS
    * TITAN MEDICAL INC- HEATHER KNIGHT HAS RESIGNED AS A MEMBER
OF
BOARD OF DIRECTORS EFFECTIVE FEBRUARY 7, 2023
    * TITAN MEDICAL INC- REMAIN OPEN TO ALL STRATEGIC OPTIONS,
INCLUDING SALE OF ALL OR A PORTION OF COMPANY'S ASSETS, IN BEST
INTERESTS OF COMPANY
    * TITAN MEDICAL INC - WILL INITIATE FURTHER COST-CUTTING
MEASURES
INCLUDING A LAYOFF OF 48 EMPLOYEES AT CHAPEL HILL OPERATIONS OF
CO'S UNIT
    * TITAN MEDICAL INC - WILL CONSIDER FURTHER COST-CUTTING
MEASURES,
INCLUDING FURTHER REDUCTIONS IN WORKFORCE, AS NEEDED
    * TITAN MEDICAL INC - COMPANY HAS HALTED ALL EXPENDITURES
RELATED
TO DEVELOPMENT OF ITS ENOS™ SINGLE-ACCESS RAS SYSTEM

Source text for Eikon:  ID:nGNX3NfkS2 
Further company coverage:  TMD.TO 
 ((Reuters.Briefs@thomsonreuters.com;))