Tactile Medical Systems acquires Afflovest

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 portable, wearable vest that International Biophysics designed to treat patients with chronic respiratory conditions, such as COPD-associated breathing conditions, or conditions resulting from neuromuscular disorders and cystic fibrosis. It manages airway clearance and is battery-powered with high-frequency chest wall oscillation.

“The addition of AffloVest represents an ideal strategic fit for Tactile Medical as it aligns well with our focus of treating patients with underserved chronic conditions in the home,” Tactile Medical president and CEO Dan Reuvers said in a news release. “We e…

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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 has voted unanimously to appoint Dan Reuvers to the role of President and Chief Executive Officer,” chairperson of the board Peter Soderberg said in a news release. “With more than 30 years of experience in the medical device industry, a proven track record of leading global medical device businesses and company leadership experience with our direct prescriber-to-payer-to-patient business model, we believe Dan is the ideal executive to lead Tactile Medical during its next stage of growth and value creation.”

Reuvers has more than 20 years of leadership experience in the life sciences ind…

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