Tivic Cuts Final Assembly Production Costs by 40%, Completes First Key Supplier Qualification
March 14 2023 - 8:00AM
Business Wire
Tivic Health® Systems, Inc. (“Tivic”) (Nasdaq: TIVC), a
commercial-phase health technology company that develops and
commercializes bioelectronic medicine, today announced it has
completed the supplier qualification and first article inspection
of ALOM, one of two new partners announced in Q4 of 2022.
The supplier qualification and successful first article
inspection help confirm that Tivic’s production process is under
statistical control and produces safe, high-quality products in
compliance with Tivic’s specifications and applicable regulatory
requirements.
“This is an important advancement that supports our initiative
to reduce costs and improve margins,” said Ryan Sabia, COO of
Tivic. “Working with ALOM will allow us to decrease our third-party
logistics costs by up to 30% and we have reduced our overall final
assembly production costs by 40% per unit.”
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
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“will” “would,” or the negative of these words or other similar
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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. Given the
existence of risks and uncertainties, you are cautioned not to
place undue reliance on such forward-looking statements. For a
discussion of certain risks and uncertainties, and other important
factors, relevant to the company, 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, and amendments thereto, 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/20230314005244/en/
Media Contact: Kayleigh Westerfield 949-632-3439
Kayleigh.Westerfield@tivichealth.com
Investor Contact: Hanover International, Inc.
ir@tivichealth.com
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