Why Is Tivic Health Systems Stock Shooting Higher Today

Tivic Health Systems, Inc. TIVC shares are trading higher after the company inked an agreement with Cardinal Health, Inc. CAH for the distribution of its products.

"We are pleased to be adding our highly effective, clinically proven bioelectronic sinus device to the Cardinal Health at-home portfolio," said Jennifer Ernst, CEO of Tivic Health. 

With the latest deal, Tivic Health will leverage Cardinal Health's robust network of 3.4 million patients. 

Also Read: Cardinal Health's Outcomes Business Merges With Transaction Data Systems, Marking New Chapter

Cardinal Health supplies medical and laboratory products to nearly 90% of U.S. hospitals, over 60,000 U.S. pharmacies, and over 10,000 specialty physician offices and clinics.

"Cardinal Health is a highly regarded name in the medical field. Execution of this agreement is one of our key steps in expanding distribution and marketing targeted at healthcare professionals," Ernst Added.

Tivic's first commercial product ClearUP is an FDA-approved handheld bioelectronic sinus device. 

Price Action: TIVC shares are trading higher by 62.5% to $0.1627 on the last check Tuesday.