Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical technology company focused on the design and development of innovative surgical technologies for robotic single access surgery, announced today that it has signed a manufacturing and supply agreement with Benchmark Electronics, Inc. (NYSE: BHE) to produce Titan’s innovative Enos™ robotic single access surgical system workstations and patient carts. These Benchmark manufactured solutions will be integrated with Titan’s proprietary patented and patent-pending cameras and multi-articulating instruments planned to be manufactured by Titan at its Chapel Hill, North Carolina facility.
This announcement forms part of Titan’s product development and regulatory plan for the manufacturing of surgeon workstations and patient carts that will be used in human studies expected to begin in 2023. These studies are expected to support the company’s planned De Novo application to the FDA for marketing clearance. Benchmark was selected as a manufacturing partner for its deep experience and vertical integration in complex medical device engineering, manufacturing and assembly, and its capacity to scale production with demand. Benchmark will leverage its full suite of services for assembly and testing of Titan’s Enos system, from high quality manufacturing and supply chain services, assembly and test tooling development, and packaging and fulfillment to enable Titan’s planned commercialization of its Enos system.
“Titan is excited to partner with Benchmark, a company that has served the medical device industry for more than 40 years. Their comprehensive engineering, manufacturing and supply chain capabilities are uniquely suited to design and produce high-quality, complex electromechanical medical systems. Among engineering and manufacturing companies, Benchmark is also differentiated by its expertise in the design and manufacture of visualization systems. This potentially adds additional value to our relationship with core expertise in a technology that is strategic to our Enos system. Benchmark will build upon the extensive product development work that has preceded their engagement, and most recently performed by our expert engineering team in Chapel Hill,” said Paul Cataford, interim president and chief executive officer of Titan. “We are confident that Benchmark will deliver product quality that is reflective of our position as an innovation leader in robotic single access surgery.”
As one of the world’s leading providers of engineering, design, and manufacturing services, Benchmark produces medical products for some of the most respected brands which embody complex electromechanical systems and sensing technologies, including magnetic resonance imaging units, computed tomography systems, energy delivery devices for surgery, handhelds and connected medical devices.
“Benchmark shares Titan Medical’s passion for innovation and its drive to improve patient outcomes utilizing new innovative medical device technology,” said Jeff Benck, president and chief executive officer of Benchmark. “The Enos system showcases our dedication to becoming a trusted partner to innovative, market-leading companies by leveraging our competencies in electronics engineering, manufacturing, test, complex electromechanical assembly and facilitating complex systems integration.”