Titan Medical To Evaluate Strategic Alternatives

(RTTNews) - Titan Medical Inc. (TMDI, TMD.TO) said its Board has determined that it is in the best interest of the company and its stakeholders to undertake a review and evaluation of strategic alternatives that may be available to the company to unlock shareholder value. The Board will consider a full range of strategic alternatives including corporate sale, merger or other business combination, a sale of all or a portion of the company's assets, strategic investment or other significant transaction.

Cary Vance, Titan's CEO, said: "Our management team is completely aligned with the Board's decision to explore options to maximize shareholder value."

Shares of Titan Medical are up 8% in pre-market trade on Wednesday.