Lexology April 8, 2024
Titan Medical Inc. (“Titan”) announced on March 18, 2024, that it is merging with Conavi Medical Inc. (“Conavi”).
Titan is a medical technology licensing company based in Toronto with an extensive patent portfolio focusing on robotic assisted surgery. Conavi is a medical device company specializing in minimally invasive image-guidance technology for cardiovascular procedures.
The agreement provides that Titan will exchange its own stock for all of Conavi’s outstanding shares, imputing a $69.8 million value for Conavi.
According to Titan’s press release, “[t]he combined company will focus on continuing to commercialize Conavi’s Novasight Hybrid™ System designed to guide common minimally invasive coronary procedures.” The Novasight Hybrid™ System utilizes both intravascular ultrasound and optical coherence tomography to perform imaging of coronary arteries,...
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