Tactile Systems this week announced that it has acquired the assets of the AffloVest respiratory therapy business from International Biophysics. Minneapolis-based Tactile Medical financed the transaction through a combination of cash on hand and $55 million of borrowings under an existing credit facility. The credit facility is provided by Wells Fargo Bank. AffloVest is a […]
Tactile Systems Technology
Tactile Systems Technology names new president and CEO
Tactile Medical (NSDQ: TCMD) this week appointed Daniel Reuvers as president and CEO, effective June 8. Reuvers succeeds Gerald Mattys who is retiring who will serve as a consultant for the company until June 2021. “After a comprehensive search process which yielded several highly qualified candidates, I am very pleased to announce that the Board of Directors […]
Tactile Systems up despite 1Q losses
Tactile Systems Technology (NSDQ: TCMD) shares crept up today on mixed first-quarter results that included a slide from profits to losses. The Minneapolis-based company posted losses of -$1.3 million, or -7¢ per share, on sales of $43.7 million for the three months ended March 31, 2020, for a bottom-line into the red from profits of $1.5 million […]
Competitor’s lawsuit against Tactile Medical can proceed
A U.S. District Court judge in southern Texas has denied a motion from Tactile Medical (NSDQ: TCMD) to dismiss a competitor’s qui tam complaint. Veterans First Medical Supply (Houston) claimed in its lawsuit filed in early 2019 that Tactile is defrauding Medicare and Medicaid because it contracts with hundreds of clinicians to provide at-home setup […]
Tactile Medical CEO announces retirement in 2020
Tactile Medical CEO Jerry Mattys this week announced his intention to retire later this year. Mattys has served as the CEO of Tactile Medical since 2005, which has shown financial growth of 21% to 22% year-over-year. “After a 38-year career in the healthcare industry, I am announcing my intention to retire in 2020. It has […]
Huennekens out, Azarbarzin in at Verb Surgical | Personnel Moves, July 24, 2019
Veteran medtech executive Scott Huennekens is out as CEO of Verb Surgical, the robot-assisted surgery joint venture between Johnson & Johnson (NYSE:JNJ) and Google parent Alphabet (NSDQ:GOOGL), which today installed Kurt Azarbarzin in the corner office. Azarbarzin, himself a medical device industry longtimer, was co-founder & CEO of SurgiQuest until its 2016 acquisition by ConMed (NSDQ:CNMD), where he was named […]
Nevro taps ex-Thoratec CEO Grossman | Personnel Moves, March 20, 2019
Nevro Corp. (NYSE:NVRO) said yesterday that it named former Thoratec CEO Keith Grossman to replace president & CEO Rami Elghandour after striking a deal with one of its investors, Broadfin Capital. Grossman re-joined Thoratec after taking over at Conceptus in December 2011 and leading it to a $1.1 billion sale to Bayer in June 2013 (he’d […]
Globus Medical gains on Street-beating prelims | Wall Street Beat
Globus Medical (NYSE:GMED) shares closed up yesterday after the orthopedics company reported preliminary fourth-quarter and 2018 sales numbers that beat the consensus forecast on Wall Street. Audubon, Pa.-based Globus said it expects to post Q4 revenues of $195.5 million and full-year sales of $712.5 million; analysts on The Street were looking for quarterly sales of $188.2 million and […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
Fujifilm Sonosite taps Ueda as chair, CEO | Personnel Moves – August 9, 2018
Fujifilm‘s (TSE:4901) SonoSite subsidiary said earlier this week it appointed Fujifilm vet and current Fujifilm Medical Systems USA and Fujifilm New Development USA prez Takaaki Ueda as its new chair and CEO. Previously, Ueda has also served as Fujifilm global endoscopy systems division GM, the company said. Ueda will replace the departing Masayuki Higuchi who […]
Tactile Medical shareholders ready $109 million offering
Tactile Systems Technology said this week that its investors have priced a new offering, looking to raise approximately $109 million. In the offering, investors in the Minneapolis, Minn.-based company will look to offer 3.3 million shares of common stock at approximately $33 per share. The offering will also include an underwriters option to purchase an additional […]
