TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) Is Back On Track For A Revaluation Or A Buyout

TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) might be a bargain at current prices. The company pretty much fell through the floor over the last few quarters after the temporary suspension of its SPORT development program, but the last few weeks have seen things get moving again, and it can only be a matter of time before the positive news stream starts to flow and the company starts to attract some positive speculative volume.Titan is a medical device company with a specialized focus on robotic surgery. It has developed a technology that it calls the SPORT Surgical System, which is designed to aid surgeons undertake minimally invasive surgery (single point of entry) in patients electrically. The system includes a surgeon workstation that provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and provides a 3D high-definition endoscopic view of inside a patient's body. It's a smart product, but it's not yet approved fro use anywhere in the world.The company is working on this latter point, but had to suspend development back in August on some financing concerns. It was supposed to pick up a $16 million investment from a Chinese investment fund, with the deal initially slated to close on June 30. At June 30, management reported that this had been delayed to mid August, and then on August 15, the company announced that the money had still not come in and that it was uncertain if the deal would close.This meant it couldn’t guarantee the paying of the entity it has recruited to do the testing, and this, in turn, meant that the process had to be suspended.Fast forward to September 20, and the company closed on an offering that saw it pick up $7.2 million from US and Canadian investors – a deal that brought its cash balance at the end of September to a little over $8.5 million. This is enough to get the ball rolling again on the development side of things, and that's where our near term bull thesis lies.Chances are that this cash isn’t going to be enough to carry through to completion, but that the testing process is back underway will at least give the company something with which to approach other investors, and we're hoping for something of a snowball effect across the next two or three quarters to both improve the company's stock price, and its cash position.The key thing here is momentum. The company is going to be entering what is essentially a three horse market, with the leader already having established itself across the last decade. It's product is going to be priced mid-way between the two alternatives (Transenterix Inc (NYSEMKT:TRXC)'s ALF and Intuitive Surgical, Inc. (NASDAQ:ISRG)'s DaVinci). The quicker it can start forging some sort of penetration, the better.That's why the delay had the impact it did – investors recognize that speed is very much a factor here, and that if Titan is going to be able to compete with its peers it needs to get to market as soon as possible.We think there's probably more potential in Titan if it carries its technology to market on its own, at least from an upside on current valuation perspective, but there's a near term chance that it may be acquired by a larger entity, and this could serve up some quick (but probably not as big) gains. Alphabet Inc (NASDAQ:GOOG) has expressed interest in robotic surgery in the past, as has International Business Machines Corp. (NYSE:IBM) and a handful of others, and there's every chance any of these would be willing to pick up Titan at a two to three times multiple of its current price to gain expedited entry into the market. As outlined, there's probably more than that from an upside perspective if Titan gets to market alone, but an acquisition would limit dilution.Two potential upside plays, both different but both rewarding.Subscribe below and we will keep you updated as to how well Titan is able to get its program back on track, and what it means for the company going forward.Disclosure: We have no position in TITXF and have not been compensated for this article.