# Titan Medical and Medtronic agree to cooperate on surgical robotics

Titan Medical Inc. announced an agreement with Medtronic PLC to advance the design and development of surgical robots, including a licensing agreement for Titan's intellectual property. Titan will receive up to $31 million in milestone payments, and Medtronic provided a $1.5 million loan.

- Type: Partnership
- Announced: 2020-06-04
- Value: $31.0M
- Status: announced
- Products: robot-assisted surgical systems
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Medtronic plc](https://endata.com/companies/19071.md) (partner)
- [Titan Medical](https://endata.com/companies/47681.md) (partner)

## Sources

- [robohub.org](https://robohub.org/titan-medical-medtronic-agree-to-cooperate-on-surgical-robotics-development/), 2020-06-04: "Titan Medical Inc. announced an agreement with Medtronic PLC to advance the design and development of surgical robots."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.