Tactile Systems Technology Named Finalist In 2008 Minnesota Tekne Awards
Minneapolis — October 25, 2008 — Tactile Systems Technology was named one of the finalists in the 2008 Minnesota Tekne Awards, which will be presented on October 30 at the Minneapolis Convention Center. These awards celebrate superior technological innovation and leadership in Minnesota and are presented by the Minnesota High Tech Association (MHTA) in partnership with Enterprise Minnesota and LifeScience Alley.
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. It affects an estimated two million men and women, including 25 percent of breast cancer survivors.
“We are pleased to be among the finalists for this award,” said Gerald R. Mattys, Chief Executive Officer, Tactile Systems Technology. “We are proud of our accomplishments and believe our company is providing an important product to a growing market.” The company was nominated in the “Medical Technology” award category among small and growing companies with annual revenues of less than $50 million.
Tactile Systems Technology’s primary product is its Flexitouch system, which delivers therapy 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. During the coming year, Tactile Systems Technology plans to increase the size of its direct sales force, fund larger clinical trials and expand into new clinical indications, such as the treatment of chronic wounds.
The Tekne awards annually recognize Minnesota’s leading technology users and developers in innovation, development, education, commercialization and management of technology in Minnesota. On October 30, one recipient from a pool of three finalists will be named in 17 categories. “The Tekne awards have served as a sign of Minnesota’s technological prominence for nearly a decade, and the accomplishments of this year’s group of finalists continue that tradition,” said Kate Rubin, president of MHTA.
Tactile Systems Technology, Inc. was founded in 1995 to develop and market a medical device for the effective treatment of lymphedema and venous insufficiencies. It received U.S. Food and Drug Administration (FDA) marketing clearance for the device in 2002. The Flexitouch system has been proven effective in relieving the symptoms of lymphedema and has recently received marketing clearance from the FDA for the treatment of wounds. In 2007, Tactile Systems Technology was named “Corporation of the Year” by the Lymphatic Research Foundation.
MHTA accelerates the growth, sustainability and global competitiveness of Minnesota’s technology-based economy through public policy advocacy, member collaboration and education, and community outreach. Members include organizations involved in technology, creation, production, application and education. For more information on the Tekne awards, including a list of finalists, visit www.tekneawards.org.