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Tivic Health Systems, Inc. Cuts Component Manufacturing Costs by 70%, Completes Second Key Supplier Qualification

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

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. 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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