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Tactile Systems Technology, Inc. reports news as a medical technology company that develops and markets at-home therapies for chronic disorders. Its updates center on lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease, including products and platforms such as Flexitouch Plus, AffloVest airway clearance devices and LymphaTech's digital 3D measurement and monitoring technology.
Recurring company developments include quarterly financial results, clinical evidence for home-based therapies, FDA device clearances, product portfolio expansion, order-management and reimbursement workflow initiatives, acquisitions, share repurchase activity and board governance changes. The company's news also describes its work with clinicians to expand awareness and access to care for patients using at-home therapy systems.
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Tactile Systems Technology, Inc. (TCMD) will release its financial results for the first quarter of fiscal year 2023 on May 8, 2023, before market open.
Management will host a conference call at 5:00 p.m. ET to discuss these results, available via phone and live webcast. Tactile Medical specializes in therapies for chronic disorders like lymphedema and chronic pulmonary disease, focusing on enhancing patient care and reducing healthcare costs. The company's commitment to improving quality of life continues as it collaborates with clinicians to expand clinical evidence and access to care.
Tactile Systems Technology (TCMD) announced the appointment of Elaine Birkemeyer as Chief Financial Officer, effective March 20, 2023. She succeeds Brent Moen, who is retiring. With over 25 years of experience in finance and leadership roles at Fortune 500 companies, Birkemeyer is expected to contribute significantly to Tactile's growth strategy. She previously held key positions at UnitedHealth Group and Best Buy. The company emphasizes its leadership in at-home therapies for chronic conditions, highlighting a large addressable market and a recently strengthened financial position.
Tactile Systems Technology (Nasdaq: TCMD) has announced its participation in two upcoming virtual investor conferences:
- 33rd Oppenheimer Annual Healthcare Conference on March 13-15, with a fireside chat scheduled for March 13 at 12:40 p.m. ET.
- Sidoti Small-Cap Conference on March 22-23, with management presenting on March 22 at 2:30 p.m. ET.
Live audio webcasts of the presentations will be accessible on the company's investor relations website, along with archived replays post-conference. Tactile Medical focuses on therapies for chronic conditions, enhancing care and quality of life for patients.
Tactile Medical (TCMD) has announced a public offering of 2,500,000 shares of common stock at $13.00 per share, aiming to raise approximately $32.5 million before expenses. The underwriter, William Blair & Company, has a 30-day option to purchase an additional 375,000 shares. Proceeds from the offering will be used for expanding commercial activities, funding milestone payments, supporting new product development, and enhancing reimbursement coverage. The offering is expected to close by February 28, 2023, subject to customary conditions. This offering is conducted under a previously filed shelf registration statement with the SEC.
Tactile Medical (Nasdaq: TCMD) announced its intention to conduct an underwritten public offering of its common stock, granting underwriters a 30-day option to purchase an additional 15% of shares offered. The proceeds will fund various initiatives, including expanding commercial activities, supporting new product development, and potential acquisitions. The offering is under a shelf registration effective since January 25, 2023. William Blair & Company is the sole book-running manager. The offering is subject to market conditions, and Tactile Medical cautions investors about forward-looking statements regarding the offering and its business prospects.
Tactile Systems Technology, Inc. (TCMD) reported a 20% increase in fourth quarter revenue to $73.9 million, driven by strong performances in both lymphedema and airway clearance products.
The full-year revenue rose 19% to $246.8 million. Lymphedema product revenue grew 5%, while airway clearance products surged 90% to $34.5 million for the year.
Despite operational improvements, the company recorded a net loss of $17.9 million for 2022. Looking ahead, TCMD projects a revenue increase of 9% to 11% for 2023, totaling between $269.0 million and $273.0 million.
Tactile Systems Technology, Inc. (TCMD) announced that Chief Financial Officer Brent Moen plans to retire in 2023 for personal reasons. His resignation is not linked to any disagreements with the company. Moen has played a vital role in guiding the company through challenges such as the COVID-19 pandemic and integrating the acquisition of AffloVest. Tactile Medical is now searching for a successor while Moen will continue in his role until one is appointed. The company specializes in at-home therapies for chronic conditions, aiming to improve patients' quality of life.
Tactile Systems Technology, Inc. (Nasdaq: TCMD) has announced that it will release its fourth quarter and fiscal year 2022 financial results on February 21, 2023, before market opening. The management will conduct a conference call at 8:00 AM ET on the same day, where they will discuss the quarter's performance. Participants can join via phone or through a live webcast available on the company's investor relations website. Tactile Medical specializes in at-home therapies for chronic conditions such as lymphedema and chronic venous insufficiency, aiming to enhance patient quality of life and improve healthcare accessibility.
Tactile Systems Technology (NASDAQ: TCMD) has appointed Carmen Volkart to its Board of Directors, effective January 5, 2023. Volkart brings over 40 years of financial and managerial experience, notably from her roles as CFO at various medical device companies. Bill Burke, Chairman of the Board, expressed confidence in her expertise to enhance Tactile Medical's strategic direction. The company specializes in at-home therapies for chronic conditions, aiming to improve patient care and reduce healthcare costs.