NanoVibronix Announces Selection of Leading International Contract Manufacturer to Support Rapid Scale-up, Lower Price Points...
December 11 2018 - 9:01AM
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 appointed Quasar as its contract manufacturer for the
PainShield®, UroShield®, WoundShield® as well as other devices.
Quasar (http://www.quasar-med.com/) is a medical device
manufacturer with over 30 years of experience, serving major brands
worldwide, with complex catheters, disposables, and FDA regulated
assemblies. Quasar delivers a full lifecycle array of engineering
services, including design-to-cost, jigs and tool design, as well
as unique production process-design services that allow for the
highest levels of efficiency and productivity. Quasar is ISO9001
and ISO13485 certified, as well as FDA registered.
Brian Murphy, Chief Executive Officer of NanoVibronix,
commented, "We are delighted to announce the timely selection of
Quasar as we begin our commercial ramp-up. Quasar brings
decades of medical device manufacturing experience in China with
on-site western ownership and management. Their turnkey
solutions include supply chain management, production and quality
engineering, manufacturing, testing and logistics. They have a
demonstrated track record working with leading medical device
companies and the ability to ensure high quality, high volume
production to support our aggressive growth plans. By outsourcing
manufacturing, we expect to generate meaningful cost savings, which
should allow us to lower our selling price, increase production to
meet revenue expectations, open additional markets, and improve
profitability.”
About NanoVibronix
NanoVibronix Inc. (NASDAQ: NAOV) is a medical device company
headquartered in Elmsford, New York 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 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 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 Contact:Crescendo
Communicationsnaov@crescendo-ir.com212-671-1021
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