Titan Medical closes $2m deal with Chinese investor

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Titan MedicalTitan Medical (TSX:TMD) said today that it closed a deal with Longtai Medical to convert a $2 million distributorship deposit to equity. The move makes Longtai the robotic surgical company’s largest shareholder.

In May of 2015, Titan Medical and Longtai, a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade Co., inked a deal to make Longtai the company’s exclusive distributor of its Sport robotic surgical platform in China.

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