NanoVibronix Announces Exclusive Agreement for Distribution of PainShield® and WoundShield® in Israel
June 05 2018 - 7:00AM
NanoVibronix, Inc., (NASDAQ:NAOV), a medical
device company utilizing the Company’s proprietary and patented low
intensity surface acoustic wave (SAW) technology, today announced
it has entered into an exclusive agreement with M.D.S. Pharm Ltd.
to market and distribute NanoVibronix’s PainShield® and
WoundShield® in Israel.
M.D.S. Pharm Ltd. is a leading distributor of
medical equipment for home-care and self-diagnostics. An integral
element of the company’s mission is to provide customers with
alternatives to medication and/or pain relief drugs. M.D.S. has an
established distribution network in Israel that includes health
insurance providers, private pharmacies, health stores, beautician
centers, private clinics, and leading health websites.
Dorit Grinberg, CEO of MDS Pharm Ltd. stated,
“We are excited to partner with NanoVibronix to market and
distribute PainShield and WoundShield in Israel. There is a
growing body of clinical evidence that demonstrates the products’
ability to treat pain and induce soft tissue healing in targeted
areas, in many cases as an alternative to opioids and other pain
medications.”
Brian Murphy, CEO of NanoVibronix, commented,
“We are excited to partner with M.D.S. in Israel, as they bring an
established distribution network that spans a variety of sales
channels, ranging from insurance and health care providers to
retail pharmacies and stores, as well as a variety of online
distribution points.”
PainShield and WoundShield are ultrasound
devices each consisting of a reusable driver unit and a disposable
patch, which contains a proprietary therapeutic transducer.
PainShield and WoundShield deliver a localized ultrasound effect to
treat pain and induce soft tissue healing in a targeted area, while
keeping the level of ultrasound energy at a safe and consistent
level. Its range of applications includes acute and chronic pain
resolution through its many mechanisms of action. PainShield, which
has broad applications for sports injuries, has been acknowledged
by several sports icons. Both PainShield and WoundShield can be
used by patients at home or work or in a clinical setting and can
be used even while the patient is sleeping. Patient benefits noted
in our clinical studies include ease of application and use, faster
recovery time, high compliance, and mechanisms of action that
affect soft tissue repair.
About NanoVibronix
NanoVibronix Inc. (NASDAQ:NAOV) is a medical device company
headquartered in Elmsford, NY with research and development in
Nesher, Israel, that is focused on developing medical devices
utilizing its proprietary and patented low intensity surface
acoustic wave technology. The company's technology allows for the
creation of low-frequency ultrasound waves that can be utilized for
a variety of medical applications, including the disruption of
biofilms and bacteria colonization, as well as providing pain
relief. The devices can be administered at home without the
assistance of medical professionals. The company's primary products
include PainShield®, UroShield™ and WoundShield™. Additional
information about the company is available at:
www.nanovibronix.com.
Forward-looking StatementsThis press release
contains “forward-looking statements.” Such statements may be
preceded by the words “intends,” “may,” “will,” “plans,” “expects,”
“anticipates,” “projects,” “predicts,” “estimates,” “aims,”
“believes,” “hopes,” “potential” or similar words. Forward-looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company’s
control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks and uncertainties
associated with (i) market acceptance of our existing and new
products, (ii) negative clinical trial results or lengthy product
delays in key markets, (iii) an inability to secure regulatory
approvals for the sale of our products, (iv) intense competition in
the medical device industry from much larger, multinational
companies, (v) product liability claims, (vi) product malfunctions,
(vii) our limited manufacturing capabilities and reliance on
subcontractors for assistance, (viii) insufficient or inadequate
reimbursement by governmental and other third party payers for our
products, (ix) our efforts to successfully obtain and maintain
intellectual property protection covering our products, which may
not be successful, (x) legislative or regulatory reform of the
healthcare system in both the U.S. and foreign jurisdictions, (xi)
our reliance on single suppliers for certain product components,
(xii) the fact that we will need to raise additional capital to
meet our business requirements in the future and that such capital
raising may be costly, dilutive or difficult to obtain and (xiii)
the fact that we conduct business in multiple foreign
jurisdictions, exposing us to foreign currency exchange rate
fluctuations, logistical and communications challenges, burdens and
costs of compliance with foreign laws and political and economic
instability in each jurisdiction. More detailed information about
the Company and the risk factors that may affect the realization of
forward looking statements is set forth in the Company’s filings
with the Securities and Exchange Commission (SEC), including the
Company’s Annual Report on Form 10-K and its Quarterly Reports on
Form 10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC’s web site at
http://www.sec.gov. The Company assumes no obligation to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
Investor Contacts:Crescendo
Communicationsnaov@crescendo-ir.com(212) 671-1021
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