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Profitable medical device maker Tactile Systems prices IPO at $10, cut from previous range

July 28, 2016
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Tactile Systems Technology, which sells at-home compression therapy devices for vascular swelling, raised $40 million by offering 4 million shares at $10, cut from the original $14-$16 range. Tactile Systems Technology plans to list on the Nasdaq under the symbol TCMD. Piper Jaffray, William Blair and Canaccord Genuity acted as lead managers on the deal.