The Trendlines Group (Trendlines) (SGX:42T
) announced that its portfolio company, ElastiMed Limited, has entered into an exclusive US distribution agreement with Tactile Systems Technology, Inc. (Tactile Medical), which is a Nasdaq-listed medical technology company.
Under the agreement, Tactile Medical will be ElastiMed’s exclusive US distribution partner to bring MyoSleeve, a discreet, wearable non-pneumatic compression device for the lower leg, to Department of Veterans Affairs (VA) and Department of Defense (DoD) patients at select VA and DoD facilities across the US.
According to Trendlines, this agreement marks a major milestone in ElastiMed’s US commercial launch strategy, providing immediate access to a large, underserved patient population.
Trendlines add that ElastiMed’s MyoSleeve combines clinical-grade compression with comfort and connectivity in a breakthrough, low-profile wearable device, intended to promote compliance and support optimal clinical outcomes for the treatment of venous and lymphatic conditions.
“A commercial agreement with a Nasdaq-listed medical technology company is strong validation of ElastiMed’s technology and of Trendlines’ model of transforming early-stage innovations into commercial businesses, supporting long-term value creation for our shareholders,” says Haim Brosh, CEO of Trendlines.
Shares of Trendlines closed flat at 5.8 cents on July 14.
