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Minneapolis-Based Tactile Systems Technology Named ''Corporation of the Year'' By National Lymphatic Research Foundation

Posted on: Friday, 11 May 2007, 09:00 CDT

Tactile Systems Technology, headquartered in St. Louis Park, Minn., received the first "Corporation of the Year" award yesterday in New York from the Lymphatic Research Foundation. The award was in recognition of the company's Flexitouch® system, an innovative home therapy to treat patients with lymphedema, a chronic, progressive medical condition resulting from accumulation of fluid in the extremities. The system simulates and sustains the manual lymphatic drainage (MLD) procedure usually provided by clinical therapists, but in a more cost-effective, convenient setting that enhances compliance.

Tactile Systems Technology was founded in 1995 by Irene Waldridge, MLD therapist and vice president of product strategy. In accepting the award, she said, "Little did I imagine back in 1995, when I sewed the first garments on the floor of my living room, that I would be accepting an award on behalf of a company selling my products. All I ever wanted to do was to help ease the pain of others."

Lymphedema, which affects one million people in the United States, is often an unintended consequence of cancer treatment. Twenty-six percent of the 3.3 million breast cancer survivors in the United States develop lymphedema in an arm, according to the American Cancer Society. Lymphedema can also develop in the legs and feet as a result of surgery, malformation of the lymphatic system or trauma.

Tactile Systems Technology received U.S. Food and Drug Administration (FDA) marketing clearance for its Flexitouch system in 2002. During its last four fiscal years, the company has averaged 175 percent annual revenue growth and 209 percent annual growth in the number of units sold. The number of lymphedema therapists recommending the system has grown an average of 354 percent per year over the past three years. Flexitouch recently received FDA marketing clearance for the treatment of wounds.

"We were honored to be the first company to receive the 'Corporation of the Year' award," said Gerald R. Mattys, chief executive officer, Tactile Systems Technology, Inc. "We consider it a privilege to be making a difference in the lives of individuals affected by lymphedema."

The Lymphatic Research Foundation is a non-profit organization created to advance lymphatic system research and find the cause of and cure for lymphatic diseases, lymphedema and related disorders.

Source: Business Wire

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