SAN FRANCISCO – March 29, 2023 – 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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Media Contact:
Kayleigh Westerfield
949-632-3439
Kayleigh.Westerfield@tivichealth.com
Investor Contact:
Hanover International, Inc.
