Tactile Systems Technology Inc., a Minneapolis-based provider of at-home lymphedema treatment, has raised $10.4m in Series B financing.
The round was led by Radius Ventures, with participation from Galen Partners.
The company plans to use the capital to acquire a new product and intellectual property rights for additional lymphedema technology. With the new technologies, Tactile Systems will be able to update its solutions and also expand into at-home treatments for patients with other vascular diseases. The acquired technology has 510(k) market clearance and an assigned Medicare reimbursement code.
Led by Jerry Mattys, CEO, the company focuses on advancing the standard of care for the at-home treatment of edema and vascular disease. Its Flexitouch® system is a programmable pneumatic compression device designed to help patients improve their overall health and enjoy a higher quality of life.