Tactile Medical Announces CEO Transition and Preliminary First Quarter 2024 Revenue

• CEO Dan Reuvers to retire; Healthcare veteran and board director Sheri Dodd appointed as Chief Executive Officer
• Preliminary, unaudited total revenue for first quarter of 2024 expected to be approximately $61 million
• Management to host conference call on May 6, 2024 to discuss first quarter 2024 financial results
  

MINNEAPOLIS, April 23, 2024 (GLOBE NEWSWIRE) -- Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that Dan Reuvers will retire as the Company’s Chief Executive Officer, effective June 30, 2024. Concurrently, the Company announced the appointment of Sheri Dodd, a member of the Company’s board of directors, as Chief Executive Officer, effective July 1, 2024. Following such date, Mr. Reuvers will serve as an advisor to Ms. Dodd through March 31, 2025 in support of the transition, as well as remain a member of the Company’s board of directors.

“Sheri brings the ideal blend of experience leading businesses within the chronic care space, expertise in health economics & reimbursement, and a deep familiarity with Tactile Medical through her service as a member of our board of directors. Prior to her most recent role as President of Medtronic Canada, Sheri led Medtronic’s Care Management Services business, focused on caring for complex patients in the home, as well as leading Medtronic’s non-intensive diabetes therapy business. In addition to general management positions, Sheri also led global clinical research, health economics, reimbursement and policy for Medtronic across multiple cardiac and vascular businesses. Sheri’s leadership roles at both Johnson & Johnson and the World Health Organization contributed to her understanding of the complex payer climate. Sheri has been a thoughtful and respected voice on our board, and I am confident Tactile will benefit from her leadership as our new CEO,” said William W. Burke, Chairman of the board of Tactile Medical.

Mr. Burke added, “We are grateful to Dan for his impact over the past four years. Under his leadership, our portfolio has been revitalized, a world-class leadership team has been assembled, and revenue and profitability have grown, all while serving thousands of new patients. Tactile’s strong balance sheet is poised to support continued growth. We are pleased that Tactile will continue to benefit from Dan’s involvement as an advisor to Sheri and as a member of our board of directors.”