Significant progress made to supply chain to
support cost improvements and scaling
Tivic Health® Systems, Inc. (“Tivic”) (Nasdaq: TIVC), a
commercial-phase health technology company that develops and
commercializes bioelectronic medicine, today announced it has hired
ALOM Technologies Corporation (“ALOM”), a leader in global supply
chain product and service delivery programs, to manage product
supply chain, assembly, and logistics.
Headquartered in the U.S., ALOM will be the company’s 3rd party
logistics (3PL) warehouse, fulfillment, and production partner
responsible for storing, packaging, and shipping Tivic product
orders. Operating out of 19 global locations, ALOM’s
technology-driven supply chain offerings include inventory
management, contract manufacturing, procurement, fulfillment,
warehouse operations, and logistics systems technology.
ALOM is a privately held, woman-owned company with a 25-year
history of operational, quality, and sustainability excellence,
including two consecutive years as a Multichannel Merchant Top 3PL
Provider, and a 2022 Manufacturing Leadership Award recipient by
the National Association of Manufacturers (NAM). In the medical
industry, ALOM is ISO 13485 certified with FDA-registered
facilities.
“ALOM’s relationship with Tivic Health brings together two
organizations that share a commitment to improving the quality of
people’s lives,” said Hannah Kain, president, and CEO, of ALOM.
“Leveraging ALOM’s medical supply chain expertise, we have created
a customized assembly, fulfillment, and reverse logistics program
that delivers on both companies’ core values of technology-driven
innovation, quality, and service level excellence.”
“Adding the expertise and technology stack of ALOM empowers us
to unify sales channels and optimize fulfillment and shipping so we
can focus on scalable growth and customer needs,” said Ryan Sabia,
COO of Tivic Health. “We are excited to add ALOM as our strategic
partner as we continue to streamline our omnichannel and e-commerce
operations.”
The company also recently announced additional cost reduction
and margin improvement steps, including:
- Execution of a manufacturing partnership with Microart Services
Inc., which is expected to reduce printed circuit board subassembly
costs by up to 70% while increasing scalability in
manufacturing.
- Implementation of a $20 increase in the manufacturer’s
suggested retail price (MSRP) per ClearUP unit.
“Improving gross margin and our scalability are areas of focus
for us in 2022. We believe the new relationships with Microart
Services and ALOM will help in our cost reduction implementation
processes creating a strong foundation for the company as we enter
the peak holiday season and the New Year,” added Sabia.
About ALOM
ALOM is a global supply chain management services and solutions
provider serving as a partner to its Fortune 500 clients in the
medical, life sciences, technology, automotive, government, and
utility/energy sectors. Headquartered in Fremont, CA, its expert
team of strategists, technology engineers, and supply chain
specialists operate globally from 19 locations. ALOM manages the
physical supply chain from procurement, inventory management,
contract assembly, digital media, and print as well as omnichannel
fulfillment. ALOM also manages the data supply chain with
e-commerce solutions, visibility tools, digital delivery tools,
data management, and strong back-end systems, as well as the
financial supply chain. ALOM is proud to deliver its clients’
products and services impeccably, enrich the end-user experience,
and uphold their brand reputations. http://www.alom.com
About Tivic
Tivic Health Systems, Inc. is a commercial-phase health
technology company delivering non-invasive bioelectronic treatments
that provide consumers with a choice in the treatment of
inflammation and certain other related conditions. For more
information visit https://tivichealth.com @TivicHealth.
Forward-Looking Statements
This press release may contain “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
“will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on Tivic Health
Systems, Inc.’s current expectations and are subject to inherent
uncertainties, risks, and assumptions that are difficult to
predict. Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
Actual results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: market and other conditions; supply
chain constraints; macroeconomic factors, including inflation; the
risks that the ongoing COVID-19 pandemic may disrupt Tivic’s
business more severely than anticipated; and unexpected costs,
charges or expenses that reduce Tivic’s capital resources. Given
these risks and uncertainties, you are cautioned not to place undue
reliance on such forward-looking statements. For a discussion of
other risks and uncertainties, and other important factors, any of
which could cause Tivic’s actual results to differ from those
contained in the forward-looking statements, see Tivic’s filings
with the SEC, including, its Annual Report on Form 10-K for the
year ended December 31, 2021, filed with the SEC on March 31, 2022,
under the heading “Risk Factors”; its Registration Statement on
S-1, filed with the SEC on October 26, 2022, under the heading
“Risk Factors”; as well as the company’s subsequent filings with
the SEC. Forward-looking statements contained in this press release
are made as of this date, and Tivic Health Systems, Inc. undertakes
no duty to update such information except as required by applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221201005164/en/
Media Contact: Cheryl Delgreco
Cheryl.Delgreco@tivichealth.com 617-429-6749
Investor Contact: Hanover International, Inc.
ir@tivichealth.com
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