Tactile Systems Technology, Inc. Reports Preliminary First Quarter 2020 Revenue Results, Withdraws Full Year 2020 Financial Outlook and Provides COVID-19 Business Update - Seite 2

Mr. Mattys continued: “As most of our clinician customers practice outside of the hospital, they can respond to patient requests for therapy and interact with us virtually. To date, our supply chain has been functioning well, and we have multiple safeguards in place designed to satisfy future demand for our products. Finally, we expect COVID-19 will continue to impact our near-term financial results; however, we remain confident in our long-term opportunity related to the $5+ billion U.S. lymphedema market and plan to continue expanding our commercial organization this year to further enhance our growth profile. With differentiated products supported by strong clinical evidence, multiple tailwinds driving our long-term growth and a solid balance sheet to support our future initiatives, we believe we are positioned to continue our track record of delivering sustained and profitable growth as this crisis subsides.”

Health & Safety:

Tactile Medical’s goal is the safety of its employees, clinicians and patients. To meet this goal and the needs of our customers, we are taking important actions to help mitigate potential risks created by COVID-19, including:

• Adjusting work and operations to keep employees safe while continuing to serve our clinicians and patients. As an essential business under federal guidelines, Tactile Medical continues to manufacture product and has implemented multiple, smaller rotational shifts and other best practices to protect the health and safety of our workforce.
• Implementing remote and flexible work arrangements for employees wherever possible, including real-time, on-line training of our new sales reps.
• Initiating employee travel and contact restrictions to reduce exposure.
• Collaborating with payers to modify coverage requirements by serving patients virtually.
• Postponing large medical education programs and conducting virtual meetings whenever possible, including virtual patient demonstrations and trainings.
• When in-person visits are required, Tactile Medical is supporting customers and patients by using rigorous infection control practices.

The financial information in this release is preliminary and subject to completion of the Company’s financial reporting processes and review. Tactile Medical intends to report its first quarter 2020 financial results on May 4, 2020.