Tivic Health Systems, Inc. Cuts Component Manufacturing Costs by 70%, Completes Second Key Supplier Qualification
29 Março 2023 - 11:03AM
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 Microart Services, Inc., 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.
“Working with Microart has allowed us to reduce our printed
circuit board manufacturing costs by 70% and increase production
capacity by 25X,” said Ryan Sabia, COO of Tivic. “We expect that
this will be an accelerator for scalable growth.”
Tivic’s partnership with two new suppliers, Microart and ALOM,
has resulted in:
- Up to a 30% reduction in 3PL costs
- A 40% reduction in final assembly production costs per
unit
- Up to 25x increased production capacity
- An overall COGs reduction forecast for 2023 of 37%
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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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/20230329005679/en/
Media Contact: Kayleigh Westerfield 949-632-3439
Kayleigh.Westerfield@tivichealth.com
Investor Contact: Hanover International, Inc.
ir@tivichealth.com
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