October 24, 2008
Minneapolis/St. Paul Business Journal Names Tactile Systems Technology Second Fastest Growing Private Company
Tactile Systems Technology was named the second fastest growing private company in the Twin Cities on the Minneapolis/St. Paul Business Journal's "Fast 50" list. The "Fast 50" designation is based on a company's rate of revenue growth from 2005 to 2007. Tactile Systems Technology's revenue grew 340 percent during that time. Today, the company employs 80 people.
Tactile Systems Technology develops, manufactures and markets products to treat vascular disorders such as lymphedema. Lymphedema is the abnormal accumulation of lymph fluid in body tissues, typically in the dermis of the arms or legs, due to blockage or inadequacy of lymph circulation. In addition to downgrading a person's quality of life, the resulting swelling makes infections and sores more likely.
Lymphedema is often the unintended consequence of cancer treatment. Approximately 25 percent of breast cancer survivors develop lymphedema within two years.
"We are honored by the recognition from Minneapolis/St. Paul Business Journal," said Gerald R. Mattys, Chief Executive Officer, Tactile Systems Technology. "We believe our company is providing an important product to a population that is estimated to be two million men and women."
Tactile Systems Technology's Flexitouch system delivers therapy at home that simulates manual lymphatic drainage (MLD) through garments covering an individual's limb and trunk. Preparing the trunk for lymphatic drainage is a unique feature of the Flexitouch system, which follows the principles of MLD as provided by therapists in clinical settings. In a recent study of 155 patients with lymphedema, published in the July 2008 Oncology Nursing Forum, 90 percent of the patients reported satisfaction with the Flexitouch system and 95 percent reported limb volume reduction or maintenance.
"In the coming year, we have plans in place to increase the size of our direct sales force, fund larger clinical trials and expand into new clinical indications, such as the treatment of chronic wounds," said Mattys. Two specific clinical studies are being planned - one to compare pumps on the market today and a second to measure changes in edema of the trunk during therapy.
In 2007, Tactile Systems Technology was named "Corporation of the Year" by the Lymphatic Research Foundation.
For more information, visit www.tactilesystems.com. For a summary of the patient satisfaction survey, contact Mary Rausch at [email protected]