NanoVibronix UroShield Joins PainShield on Federal Supply Schedule, Expanding Access to VA Market
March 02 2021 - 8:30AM
Business Wire
Veterans Using At-Home Catheters Can Now
Utilize UroShield to Prevent Catheter Associated Urinary Tract
Infections
NanoVibronix, Inc. (NASDAQ: NAOV), a medical device
company that produces the UroShield®, PainShield® and WoundShield®
Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic
Devices, today announced that its UroShield urology therapy device
has been added to the Federal Supply Schedule through a service
disabled veteran organization, thus making it easier for Veterans
being treated by the Veterans Administration to secure and utilize
the UroShield. On September 1, 2019, NanoVibronix's other
proprietary device, the PainShield, was placed on the Federal
Supply schedule insuring veterans access to a non-opioid pain
therapy.
Veterans currently using indwelling Foley catheters are now able
to receive UroShield to prevent Catheter Associated Urinary Tract
Infections. It is estimated that 40 million Americans annually
undergo Urinary Catheterization and Catheter-associated Urinary
Tract Infections (CAUTI) is the leading cause of secondary
hospital-acquired bloodstream infection. Estimates suggest that
more than 500,000 episodes of CAUTI occur annually in the U.S.
alone with more than 8,000 deaths related to the infection.
UroShield is a disposable ultrasound device designed to reduce
biofilm, this is accomplished by generating and propagating low
frequency low intensity ultrasonic energy throughout the catheter.
The Ultrasound interferes with the bacteria’s touch sensors
discouraging bacterial docking on the catheter and leading to
reduction of bacterial colonization and biofilm, thereby reducing
risk of CAUTI. UroShield can be attached to any indwelling urinary
catheter, transforming it into a therapeutic device. The UroShield
can relieve Foley catheter pain, reduce urinary tract infections,
alleviate spasms, and help any inconveniences caused by using any
type of indwelling urinary catheter. As of March 1, 2021, veterans
now have access to the UroShield to not only prevent CAUTIs, but
also has the potential to prevent hospitalizations. Especially
during the COVID-19 pandemic when the healthcare community is
focusing on utilizing hospital beds for COVID patients.
“This is an important milestone for NanoVibronix, further
expanding our addressable market and making it easier for us to
bring innovative solutions to Veterans to prevent unnecessary
hospitalization and the risk of dangerous infections,” stated Brian
Murphy, CEO of NanoVibronix.
About NanoVibronix, Inc.
NanoVibronix, Inc. (NASDAQ: NAOV) is a medical device company
headquartered in Elmsford, New York, with research and development
in Nesher, Israel, focused on developing medical devices utilizing
its patented low intensity surface acoustic wave (SAW) technology.
The proprietary technology allows for the creation of low-frequency
ultrasound waves that can be utilized for a variety of medical
applications, including for disruption of biofilms and bacterial
colonization, as well as for 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®, all of which are portable devices
suitable for administration at home without assistance of medical
professionals. Additional information about NanoVibronix is
available at: www.nanovibronix.com.
Forward-looking Statements
This 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; 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) the geographic, social and
economic impact of COVID-19 on the Company’s ability to conduct its
business and raise capital in the future when needed; (ii) market
acceptance of our existing and new products or lengthy product
delays in key markets; (iii) negative or unreliable clinical trial
results; (iv) inability to secure regulatory approvals for the sale
of our products; (v) intense competition in the medical device
industry from much larger, multinational companies; (vi) product
liability claims; (vii) product malfunctions; (viii) our limited
manufacturing capabilities and reliance on subcontractor
assistance; (ix) insufficient or inadequate reimbursements by
governmental and/or other third party payers for our products; (x)
our ability to successfully obtain and maintain intellectual
property protection covering our products; (xi) legislative or
regulatory reform impacting the healthcare system in the U.S. or in
foreign jurisdictions; (xii) our reliance on single suppliers for
certain product components; (xiii) the need to raise additional
capital to meet our future business requirements and obligations,
given the fact that such capital may not be available, or may be
costly, dilutive or difficult to obtain; (xiv) our conducting
business in foreign jurisdictions exposing us to additional
challenges, such as, e.g., foreign currency exchange rate
fluctuations, logistical and communications challenges, the burden
and cost of compliance with foreign laws, and political and/or
economic instabilities in specific jurisdictions; and (xv) market
and other conditions. 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, except as required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210302005206/en/
Investor Contacts:
NanoVibronix, Inc. bmurphy@nanovibronix.com (630) 338-5022
Or:
Brett Maas, Managing Principal, Hayden IR, LLC
brett@haydenir.com (646) 536-7331
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From Mar 2024 to Apr 2024
NanoVibronix (NASDAQ:NAOV)
Historical Stock Chart
From Apr 2023 to Apr 2024